SBM Offshore : On pole position for large new FPSO awards
Having successfully delivered three large FPSOs to its client Petrobras and ExxonMobil in the first 9 months of 2025, SBM Offshore is now close to significantly increase its order backlog again with large new FPSO awards. Bringing in the awards will enable the company to solidify and lift its net cash outlook for the coming years, its cash return outlook, and in our view should also act as a catalyst for a further re-rating to peer group valuation multiples.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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.