SBM Offshore posted FY22 results in line with guidance in a challenging year. On the back of a strong backlog and revenue visibility, the regular dividend was lifted by 10% to $1.1/sh, a yield of 7% – a rarity in the EU OFS sector. FY22 saw diversification attempts for financing coming to fruition, supporting the company’s target of increasing cash flow from equity financing. A buyback program however was not forthcoming with the focus on the growing investment requirements.
