SBM Offshore Shares Hit New Record High Despite Annual Revenue Decline
SBM Offshore reached a new historical high on Thursday, February 26, the day it published its annual results for 2025. The stock of the Dutch ocean infrastructure specialist climbed 2.56% to 32.90 euros, surpassing its previous peak of 32.68 euros reached the day before. The upward trend marks a remarkable journey, with an increase of more than 63% over the year.
SBM Offshore unveiled its annual accounts for the fiscal year 2025 this Thursday, marked by a 17% decline in revenue to $5.1 billion. Despite the downturn in activity, this was offset by a significantly enhanced redistribution policy: the group increased its distributions to $2.57 per share, up 57% from the previous year. This generous shareholder return strategy accompanies the publication of the day, coinciding with the scheduled date on the financial calendar for the announcement of annual revenue. The group's general assembly is scheduled for April 15, 2026, while revenues for the first quarter of 2026 will be published on May 7.
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Technically, SBM Offshore's stock price is now significantly above its 50-day (27.96 euros) and 200-day (24.36 euros) moving averages, confirming the strength of the existing bullish trend. The significant gap from these benchmarks highlights the extent of the recent bullish movement, with the stock gaining 33.42% over the last three months. However, the RSI, an indicator measuring the speed and magnitude of price changes, is currently at 79, above the threshold of 70 generally considered an overbought zone. This high level indicates that the stock has experienced rapid acceleration and may be exposed to short-term profit-taking. The breach of the former resistance at 32.08 euros today, which may now turn into a new technical floor, is a signal to watch in the coming sessions.
We have increased our revenue guidance versus the initial baseline and these results highlight the resilience of our business model.
Risks mentioned
Environnement de marché de plus en plus complexe et volatil mentionné par le CEO
Fin de la fabrication des topsides de FPSO Jaguar réduisant sa contribution au chiffre d'affaires
Attribution finale du contrat Longtail soumise à approbations gouvernementales et décision finale d'investissement du client
Opportunities identified
Attribution des contrats FPSO SEAP I et SEAP II par Petrobras renforçant le backlog
Commande d'une 13e coque Fast4Ward portée par de solides perspectives du marché FPSO
Backlog pro-forma record de 35,6 milliards de dollars offrant une visibilité jusqu'en 2050
Outlook / guidance
Expected revenue: 7 600 millions de dollars
Expected EBITDA: 1 900 millions de dollars
Management commentary: The Company's 2026 Directional revenue guidance is increased to around US$7.6 billion, of which around US$2.4 billion is expected from the Lease and Operate segment and around US$5.2 billion from the Turnkey segment.
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
