SBM Offshore

SBM Offshore is a holding company. Co. provides floating production solutions to the offshore energy industry, over the full product life-cycle. Co.'s main activities are the design, supply, installation, operation and life extension of floating production, storage and offloading (FPSO) vessels. Other products include semi-submersibles, tension-leg platforms, floating production storage and offloading liquefied natural gas, turret mooring systems, brownfield and offshore (off) loading terminals. As of Dec 31 2015, Co.'s fleet consisted of 10 FPSOs, two floating storage and offloadings, one mobile offshore production unit, one semisubmersible in operation worldwide.
  • TickerSBMO
  • ISINNL0000360618
  • ExchangeEuronext Amsterdam
  • SectorOil Equipment, Services & Distribution
  • CountryNetherlands

Analysts

ING
Research Department

Benelux Morning Notes

AMG: Formally explores a separate listing for AMG Technologies. SBM Offshore: Arrival of Mero-2, a return to Brazil with a F4W. Staffing sector: US May Temp data trend stable; US job report negative. TKH Group: CMD strategy update. Unilever: Gotcha Tatcha

Cedric Duinslaeger ...
  • Guy Sips
  • Jason Kalamboussis
  • Lenny Van Steenhuyse
  • Sandra Cauwenberghs

Morning Note: GLPG NA, MDXH BB, NN NA, OXUR BB, SBMO NA, SMAR BB

Galapagos: Phase II ROCELLA trial enrolment completed MDxHealth: Clinical validation study SelectMDx published NN Group: VIVAT M&A: clean deal - slow burner - consistency Oxurion: Grant for Oncurious, THR-317 phI data presented SBM Offshore: Awarded Mero 2 LOI Smartphoto group: Sector news : Shutterfly bought by Apollo

ING
Research Department

Benelux Morning Notes

Avantium: From Synvina to ARP. BE Semiconductor Industries: Feedback from analyst & investor meeting. Cofinimmo: Sells another Brussels decentralized office building. D'Ieteren: Management favors large investment. German resi: Why this one is different. NN Group: To acquire VIVAT Non-life for €556m SBM Offshore: What about Mero?

SBM OFFSHORE NV sees an upgrade to Slightly Positive due to a better fundamental star rating

The general evaluation of SBM OFFSHORE NV (NL), a company active in the Oil Equipment & Services industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 3 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date June 4, 2019, the closing price was EUR 16.03 and its potential was estimated at EUR 19.80.

ING
Research Department

Benelux Morning Notes

AMG: Formally explores a separate listing for AMG Technologies. SBM Offshore: Arrival of Mero-2, a return to Brazil with a F4W. Staffing sector: US May Temp data trend stable; US job report negative. TKH Group: CMD strategy update. Unilever: Gotcha Tatcha

Cedric Duinslaeger ...
  • Guy Sips
  • Jason Kalamboussis
  • Lenny Van Steenhuyse
  • Sandra Cauwenberghs

Morning Note: GLPG NA, MDXH BB, NN NA, OXUR BB, SBMO NA, SMAR BB

Galapagos: Phase II ROCELLA trial enrolment completed MDxHealth: Clinical validation study SelectMDx published NN Group: VIVAT M&A: clean deal - slow burner - consistency Oxurion: Grant for Oncurious, THR-317 phI data presented SBM Offshore: Awarded Mero 2 LOI Smartphoto group: Sector news : Shutterfly bought by Apollo

ING
Research Department

Benelux Morning Notes

Avantium: From Synvina to ARP. BE Semiconductor Industries: Feedback from analyst & investor meeting. Cofinimmo: Sells another Brussels decentralized office building. D'Ieteren: Management favors large investment. German resi: Why this one is different. NN Group: To acquire VIVAT Non-life for €556m SBM Offshore: What about Mero?

Alexander Makar ...
  • Cedric Duinslaeger
  • Guy Sips
  • Jan Opdecam
  • Wim Hoste

Morning Note: ABI BB, COFB BB, OPTI BB , LEAS BB, MONT BB, RET BB, SBMO NA

AB InBev: Feedback CMD – deep dive in US business Cofinimmo: Acquisition of € 6m in Brussels Leopold quarter Crescent: ‘Ultimate turn around now really under construction’ Leasinvest RE: 1Q19 results Montea: EPS beat and ambitious outlook trigger valuation Retail Estates: Analyst meeting feedback SBM Offshore: € 175m share repurchase program completed

Baptiste Lebacq

SBM Offshore : Trading update confirms the rebound at the turnkey activity

>Sales up 18% thanks to the turnkey activity - This morning, the group released its trading statement for Q1 2019. Directional sales were up 18% over the quarter to $ 456m. The turnkey division posted y-o-y growth of 169% to $ 145m (pre-payment on the turrets for the Johan Castberg project). The lease&operate activity was down 6% to $ 311m due to the reduction in the group’s fleet (FPSO Turritella, FSO Yetagun and FSO N’Kassa II). Net debt at end-Q1 2019 was...

Alain William ...
  • Baptiste Lebacq
  • Christophe Chaput
  • Fehmi Ben Naamane
  • Martial Descoutures
  • Matthias Desmarais
  • Pierre Corby

ODDO BHF Small & MIDCAP MORNING NEWS - 05/16/2019

...

Alain William ...
  • Baptiste Lebacq
  • Christophe Chaput
  • Fehmi Ben Naamane
  • Martial Descoutures
  • Matthias Desmarais
  • Pierre Corby

ODDO BHF Small & MIDCAP MORNING NEWS - 16/05/2019

...

SBM OFFSHORE NV sees an upgrade to Slightly Positive due to a better fundamental star rating

The general evaluation of SBM OFFSHORE NV (NL), a company active in the Oil Equipment & Services industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 3 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date June 4, 2019, the closing price was EUR 16.03 and its potential was estimated at EUR 19.80.

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