(Reuters) – Dutch provider of floating oil and gas production vessels, SBM Offshore <SBMO.AS> reported on Thursday forecast-beating results, leading it to raise it full-year targets, helped by growth at its turnkey operations.
The firm upgraded its full year outlook and now sees with directional revenue above $2 billion (1.64 billion pounds) and directional earnings before interest, tax, depreciation and amortisation (EBITDA)above $750 million.
The January-June directional EBITDA fell 4% to $399 million from the year ago figure adjusted for one-offs, while revenue increased 19% to $965 million.
The company did not report any adjustments for the first half.
The analysts polled by the company had expected EBITDA to drop to $383 million on revenues of $950 million.
(Reporting by Piotr Lipinski in Gdynia)