SBM Offshore - Firmly on track in Q1
Q1 revenues modestly above expectations in both segmentsManagement reiterates FY24 guidance including EBITDA of around USD 1.2bnNo significant changes to our estimates, Buy reiterated with EUR 25 TPSBM 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.
We are an investment house with Belgian roots founded on more than 150 years of trust.
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