H1 16 IFRS revenue was $1.1bn (-27% yoy due to Turnkey, -48% yoy to $505m). Directional revenue came in at $0.9bn. IFRS EBIT was $213m (+4% yoy), below consensus (at $287m). Underlying Directional EBIT was $146m (-43% yoy; vs. consensus at $161m). The IFRS underlying net profit was $145m (vs. $106m in H1 15), broadly in line with consensus estimates. The IFRS net debt was $5.2bn (steady from end-2015). Proportional net debt, at $3.1bn, decreased by $68m ytd. The company generated a positive F
10 Aug 2016
Positive FCF from H1 16; €150m share buy-back; further cost-cutting
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Positive FCF from H1 16; €150m share buy-back; further cost-cutting
SBM Offshore NV (SBMO:WBO) | 0 0 0.5% | Mkt Cap: 2,738m
- Published:
10 Aug 2016 -
Author:
Marzio Foa -
Pages:
3
H1 16 IFRS revenue was $1.1bn (-27% yoy due to Turnkey, -48% yoy to $505m). Directional revenue came in at $0.9bn. IFRS EBIT was $213m (+4% yoy), below consensus (at $287m). Underlying Directional EBIT was $146m (-43% yoy; vs. consensus at $161m). The IFRS underlying net profit was $145m (vs. $106m in H1 15), broadly in line with consensus estimates. The IFRS net debt was $5.2bn (steady from end-2015). Proportional net debt, at $3.1bn, decreased by $68m ytd. The company generated a positive F