SBM Offshore closes year with record amount of work

Photo: ANP

Maritime service provider SBM Offshore closed last year with a record amount of 29.5 billion dollars (26 billion euros) in work on the shelf. The company, which mainly focuses on the production of floating installations for the production and storage of oil and gas, calls this unique for the sector. According to SBM Offshore, this makes it possible to invest in the future, including in renewable energy sources.

SBM is also increasingly targeting the development of sustainable energy, such as wind energy. The company hopes to capture a share of the growing market for offshore wind farms. SBM is already building in France and projects are also being started up in the United States and the United Kingdom.

Underlying revenue, which is money earned from the company’s primary activities, rose to more than $2.3 billion in 2021. That is 1 percent more than a year earlier. Underlying profit before taxes, among other things, decreased by 1 percent to $931 million. The company has increased its dividend by 13 percent.

The company does not report major disruption as a result of the corona pandemic in the past quarter. For this year, the oil services provider expects a turnover of at least 3.1 billion dollars. SBM is counting on a profit of about 900 million dollars.

SBM Offshore closes year with record amount of work
Source link SBM Offshore closes year with record amount of work

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