In H2 15, IFRS revenue was $1.2bn, below consensus estimates (at $1.7bn), and -54% yoy, mainly due to Turnkey. However, Directional revenue came in at $1.0bn, in line with consensus expectations and guidance. New orders were $87m (vs. $2.1bn in H2 14). The Directional backlog stood at $18.9bn (vs. $21.8bn in 2014), o/w 97% in Lease and Operate. IFRS EBIT was $35m (vs. $526m in H2 14), missing consensus (at $292m). Directional EBIT posted a $64m loss ($242m in H2 14), also below consensus (at
11 Feb 2016
Recovery unlikely before 2018; H2 15 order intake almost nil
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Recovery unlikely before 2018; H2 15 order intake almost nil
SBM Offshore NV (SBMO:WBO) | 0 0 0.5% | Mkt Cap: 2,738m
- Published:
11 Feb 2016 -
Author:
Marzio Foa -
Pages:
2
In H2 15, IFRS revenue was $1.2bn, below consensus estimates (at $1.7bn), and -54% yoy, mainly due to Turnkey. However, Directional revenue came in at $1.0bn, in line with consensus expectations and guidance. New orders were $87m (vs. $2.1bn in H2 14). The Directional backlog stood at $18.9bn (vs. $21.8bn in 2014), o/w 97% in Lease and Operate. IFRS EBIT was $35m (vs. $526m in H2 14), missing consensus (at $292m). Directional EBIT posted a $64m loss ($242m in H2 14), also below consensus (at