SBM Offshore Shares Jump 7% in Morning Trading Following EBITDA Forecast Upgrade

Quarterly Business Update and Financial Forecasts

SBM Offshore released its third-quarter 2025 business update this Thursday morning, announcing an increase in its EBITDA forecast for the year 2025, from over $1.6 billion to about $1.65 billion. The group also maintains its annual revenue target above $5 billion. For the first nine months of the year, cumulative directional revenue amounted to $3.571 billion, up 26% compared to the same period in 2024, driven by construction activity. This morning, the company's shares traded at their highest levels in over 17 years, signaling a very favorable reception from investors. The price of 23.94 euros now shows a gain of 38.78% over one year, significantly outperforming the flagship Paris index CAC 40, which has risen 15.02% over the same period. Over a week, the stock has gained 8.42%, while the Paris index has risen 0.87% this Thursday. Trading volumes remain moderate with only 0.2% of the capital traded, reflecting a conviction shared by existing shareholders. Three major FPSO units reached their first oil production this year, bringing the company's fleet to 17 vessels with a total production capacity of 2.7 million barrels of oil per day.

Technical Analysis and Market Behavior

From a technical analysis standpoint, the stock crossed its resistance threshold this morning at 23.58 euros, a potentially bullish signal for investors. The price is moving above its 50-day (21.88 euros) and 200-day (22.23 euros) moving averages, confirming a positive underlying trend. The RSI, at 49, is in neutral territory, indicating that the stock still has room for progression before reaching an overbought zone. The Bollinger Bands, ranging from 21.11 euros (lower boundary) to 23.01 euros (upper boundary), are currently exceeded by the price, reflecting a short-term acceleration in volatility. The MACD index displays a neutral configuration with both the MACD line and the signal line at 0.10, and a histogram at zero. This positioning suggests the absence of a strong directional signal, although the bullish movement of the day could soon generate a positive crossover. The one-month volatility is set at 6.57%, a moderate level for a stock in the oilfield services sector. The beta at -0.03 confirms the stock's low correlation with the market, a characteristic appreciated in times of uncertainty.

Share Buyback Program and Operational Excellence

The 141 million euros share buyback program is approximately 71% complete, with 5 million shares canceled on November 3, 2025. Over the past year, the fleet's availability rate reached 99.4%, a level of operational excellence that supports the visibility of future revenues. The group also continues its investment strategy with two multipurpose Fast4Ward hulls under construction, designed to anticipate new projects in a context of sustained demand for FPSOs. The stock thus displays a positive momentum driven by solid operational fundamentals and a controlled growth strategy in the offshore oil production sector.