Euronews is no longer accessible on Internet Explorer. This browser is not updated by Microsoft and does not support the last technical evolutions. We encourage you to use another browser, such as Edge, Safari, Google Chrome or Mozilla Firefox.

SBM Offshore ups 2019 outlook after forecast-beating first half

Euronews logo
Text size Aa Aa

(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)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on for a limited time.