SBM Offshore N.V.
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Publicatie datum
04 feb 2015 - 18:19
Statutaire naam
SBM Offshore N.V.
Titel
SBM OFFSHORE FULL-YEAR RESULTS 2014
Bericht
Resilience in a difficult macro environment
February 4, 2015
SBM Offshore ended 2014 with a good underlying financial performance, ahead of expectations for the second straight year. The Company reached an important milestone in announcing an out-of-court settlement agreement with the Dutch Public Prosecutor's Office (Openbaar Ministerie) over the inquiry into alleged improper payments, whilst the US Department of Justice declined to prosecute and has closed its inquiry into the matter. This marks a big step forward in putting the Company's legacy issues to rest. Furthermore the year was marked by continued project execution with the delivery of two FPSOs, securing financing for a number of projects and continued strengthening of the balance sheet. Directional1 revenue increased 5% to US$3,545 million, while Directional1 backlog remains near record highs at US$21.8 billion. This was reinforced by strong operational performance with consistently high uptime across the fleet of over 99%.
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