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

Alexander Makar ...
  • Cedric Duinslaeger
  • Guy Sips
  • Jan Opdecam
  • Joachim Vansanten

Morning Note: ASC BB, EURN BB, JEN BB, MONT BB, QFG BB, SBMO NA

Ascencio: Flat results though a marked financial improvement Euronav: Conf Call Takeaways Jensen-Group: 1H19 impacted by partial insurance payments Montea: 1H19 EPS beat and increased outlook Quest for Growth: Discount back to reasonable levels SBM Offshore: Conf Call Takeaways

Alain William ...
  • Anis Zgaya
  • Baptiste Lebacq
  • Khaled Ben Amor
  • Nicolas Thorez

ODDO BHF Small & MIDCAP MORNING NEWS - 08/08/2019

...

Alain William ...
  • Anis Zgaya
  • Baptiste Lebacq
  • Khaled Ben Amor
  • Nicolas Thorez

ODDO BHF Small & MIDCAP MORNING NEWS - 08/08/2019

...

ING
Research Department

Benelux Morning Notes

Adecco: 2Q19 results beat +3.9%; revenue trend stable into 3Q as seen at Randstad. Ahold Delhaize: Comforting conference call on FCF guidance, food retail still challenging. bpost: strong 2Q19 beat partly due to cost phasing; Parcels strong, Mail volumes weak. Euronav: Harsh environment but IMO2020 not far away. KBC: Too early to provide guidance for 2020 NII, CET1 ratio 30bp ahead of expectations. SBM Offshore: Results solid, raising guidance

Alan Vandenberghe ...
  • Cedric Duinslaeger
  • Jason Kalamboussis
  • Lenny Van Steenhuyse
  • Ruben Devos
  • Sandra Cauwenberghs
  • Thomas Couvreur

Morning Note; AGS BB, BPOST BB, EURN BB, MITRA BB, PROX BB, SBMO NA, SLIGR NA

Ageas: Asia provides continues support for earnings BinckBank: Saxo Bank completes the acquisition of BinckBank bpost: Mixed Q2 results, mail volume decline “up to 9%” Euronav: Results better than expected in anticipated weak Q2 Mithra: Estelle under IP in JP for dysmenorrhea Proximus: 2Q19 review - Downside risks outweigh the upside SBM Offshore: Results in line, guidance upgraded Sligro: Soft 2Q, capped growth and slower margin recovery

Alexander Makar ...
  • Cedric Duinslaeger
  • Guy Sips
  • Jan Opdecam
  • Joachim Vansanten

Morning Note: ASC BB, EURN BB, JEN BB, MONT BB, QFG BB, SBMO NA

Ascencio: Flat results though a marked financial improvement Euronav: Conf Call Takeaways Jensen-Group: 1H19 impacted by partial insurance payments Montea: 1H19 EPS beat and increased outlook Quest for Growth: Discount back to reasonable levels SBM Offshore: Conf Call Takeaways

ING
Research Department

Benelux Morning Notes

Adecco: 2Q19 results beat +3.9%; revenue trend stable into 3Q as seen at Randstad. Ahold Delhaize: Comforting conference call on FCF guidance, food retail still challenging. bpost: strong 2Q19 beat partly due to cost phasing; Parcels strong, Mail volumes weak. Euronav: Harsh environment but IMO2020 not far away. KBC: Too early to provide guidance for 2020 NII, CET1 ratio 30bp ahead of expectations. SBM Offshore: Results solid, raising guidance

Alan Vandenberghe ...
  • Cedric Duinslaeger
  • Jason Kalamboussis
  • Lenny Van Steenhuyse
  • Ruben Devos
  • Sandra Cauwenberghs
  • Thomas Couvreur

Morning Note; AGS BB, BPOST BB, EURN BB, MITRA BB, PROX BB, SBMO NA, SLIGR NA

Ageas: Asia provides continues support for earnings BinckBank: Saxo Bank completes the acquisition of BinckBank bpost: Mixed Q2 results, mail volume decline “up to 9%” Euronav: Results better than expected in anticipated weak Q2 Mithra: Estelle under IP in JP for dysmenorrhea Proximus: 2Q19 review - Downside risks outweigh the upside SBM Offshore: Results in line, guidance upgraded Sligro: Soft 2Q, capped growth and slower margin recovery

Baptiste Lebacq

SBM Offshore : Ship shape and Bristol fashion

>H1 2019 EBITDA: 4% ahead of forecasts - SBM Offshore has just reported better-than-expected H1 2019 results. Directional revenue came in at $ 968m (+19% y-o-y), 1.8% higher than the consensus (and in line with our estimate of $ 965m). As expected, this pace of growth was driven by the turnkey business ($ 319m, i.e. +107% y-o-y). Adjusted directional EBITDA came to $ 399m (down 4% y-o-y), 4% higher than forecast. Directional net profit totalled $ 61m, down 25% on an ...

Baptiste Lebacq

SBM Offshore : En ordre de marche

>EBITDA S1 2019 : 4 % au-dessus des attentes - SBM Offshore vient de publier ses résultats du S1 2019 qui ressortent au-dessus des attentes. Le CA directionnel est de 968 M$ (+19 % YoY), il est 1.8 % supérieur aux attentes du consensus (et en ligne avec nos anticipations: ODDO BHF 965 M$e). Comme escompté, la branche Turnkey tire cette croissance (319 M$ soit +107 % YoY). L’EBITDA directionnel retraité est de 399 M$ (en repli de 4 % YoY), il ressort 4 % au-dessus des ...

Alain William ...
  • Anis Zgaya
  • Baptiste Lebacq
  • Khaled Ben Amor
  • Nicolas Thorez

ODDO BHF Small & MIDCAP MORNING NEWS - 08/08/2019

...

Alain William ...
  • Anis Zgaya
  • Baptiste Lebacq
  • Khaled Ben Amor
  • Nicolas Thorez

ODDO BHF Small & MIDCAP MORNING NEWS - 08/08/2019

...

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

...

Ahmed Ben Salem ...
  • Baptiste Lebacq
  • Bruno Cavalier
  • Christophe Chaput
  • Emmanuel Matot
  • Jerôme Bodin
  • Laurence Hofmann
  • Martial Descoutures
  • Pierre Corby

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 11/26/2018

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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.

SBM Offshore

SBM Offshore

SBM Offshore

SBM Offshore

MarketLine Department

Royal Boskalis Westminster NV - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Royal Boskalis Westminster NV - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments Marketline's Royal Boskalis Westminster NV Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Royal Boskalis Westminster NV since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdo...

Louis AZAIS

Analyse court terme - SBM OFFSHORE (Ex IHC CALAND) : Le retracement de 50% est atteint, il cause le rebond.

Le précédent creux vient d'être enfoncé, ceci confirme la tendance baissière. Le prochain objectif est à 9,870 €. Le niveau d'invalidation est au-dessus de 14,150 €.Arguments :- Le retracement de 50% est atteint, il cause le rebond.- La moyenne mobile sert de résistance.

Louis AZAIS

Short term view - SBM OFFSHORE (Ex IHC CALAND) : The 50% retracement is causing the bounce.

The previous low has been broken, the bearish trend is confirmed. The next target is at €9.870. The invalidation level is above €14.150.Arguments :- The 50% retracement is causing the bounce.- The moving average is capping prices.

Louis AZAIS

Medium term view - SBM OFFSHORE (Ex IHC CALAND) : The major support has been reached, it causes the bounce.

The trend is still bullish, the invalidation level is below €12.320. The target is at €18.300.Arguments :- The major support has been reached, it causes the bounce.

Louis AZAIS

Analyse moyen terme - SBM OFFSHORE (Ex IHC CALAND) : Le support majeur est atteint, il cause le rebond.

La tendance est toujours haussière, son niveau d'invalidation est sous 12,320 €. L'objectif est à 18,300 €.Arguments :- Le support majeur est atteint, il cause le rebond.

Louis AZAIS

Short term view - SBM OFFSHORE (Ex IHC CALAND) : Support reintegrated

The trend is still neutral but within that interval prices could head towards the bottom of the range.Arguments :- The support has been shortly breached, but it is now reinstated. Prices can bounce.

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