SBM Offshore Raises 2026 Guidance on Turnkey Growth
SBM Offshore, the Netherlands‑based deepwater infrastructure provider, announced an interim dividend of $100 million following a strong first‑half performance. Directional revenue for the first half reached $4.90 billion, representing a 112% increase over the same period last year, while Directional EBITDA rose to $1.31 billion, a 92% year‑over‑year gain.
The revenue and profit expansion was driven primarily by heightened Turnkey activity. Key transactions included the sale of the FPSO ONE GUYANA, a partial divestment in the FSO Chalchi, and the award of new contracts for FPSOs SEAP I and SEAP II. Lease‑and‑Operate revenue also grew, supported by new units joining the fleet and improved fleet performance, although this was partially offset by asset divestments.
Based on the first‑half results, SBM Offshore raised its full‑year 2026 Directional revenue guidance to approximately $7.6 billion and its Directional EBITDA guidance to around $1.9 billion. The company noted that general and administrative expenses increased during the period due to higher activity levels and investment in digital initiatives.
Management highlighted a strong FPSO market outlook and robust tendering activity as supportive factors for the company’s long‑term growth trajectory.