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The Dutch Shipbuilder SBM Offshore Observed a 16% Increase in Underlying Revenues, Due to Large FPSO Ship Orders in Guyana and Brazil.
The accumulated revenue for the year of US $ 1.7 billion compares with US $ 1.47 billion in the third quarter of 2019. The shipbuilder SBM Offshore stated that the revenue increase in the Lease and Operate segment was the result of the FPSO Liza Destiny joining the fleet at the end of 2019, as well as the acquisition of a minority stake in five Brazilian FPSOs.
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Liza is a vessel for ExxonMobil’s namesake field in the immensely prospective Stabroek block in Guyana. The shipbuilder SBM Offshore is currently developing the FPSOs Liza Unity and Prosperity – also for Exxon in Guyana – and Sepetiba, which is destined for the Santos Basin off the coast of Brazil.
The Liza and Sepetiba Offshore Units Are Expected to Be Completed in 2022 and Prosperity in 2024
Net debt rose to US $ 4 billion, from US $ 3.5 billion at the end of 2019, which SBM Offshore stated is mainly related to project financing for construction, while the company has used its credit lines for growth investments.
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New shoe factory in Ceará is expected to create 400 jobs and strengthen the local economy.
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No one imagined it, but a mixture of sawdust with a mineral that fights fires surprises scientists with a result that changes the course of fire-resistant construction.
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From empty land to a high-end house, wooden construction uses a lightweight system, metal structure for the foundation, ventilated ceramic cladding, and special windows to create an efficient and comfortable living space throughout the year.
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From vacant land to a high-end house, wooden construction uses a lightweight system, a metal structure for support, ventilated ceramic cladding, and special windows to create an efficient and comfortable living space throughout the year.
EBITDA (earnings before taxes, interest, depreciation, and amortization) is around $ 950 million, which the company highlighted despite the challenging market environment.
Shipbuilder SBM Offshore Demonstrates Skills Amid Crisis
CEO Bruno Chabas said: “SBM Offshore is demonstrating the strength of its business model with another strong set of results in the last quarter, despite the dual challenge of the global pandemic and low oil prices. Based on this solid year-to-date performance and the Company’s discipline in managing its cost base, the Company has raised its guidance for the year.
“SBM Offshore’s shipbuilding teams are successfully maintaining our focus on safely delivering projects and operations while virtually working together across multiple time zones with clients, suppliers, and all our other global stakeholders with the aim of minimizing delivery delays and operational disruptions. Deepwater projects in quality basins continue to rank favorably in client portfolios.”
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