Sbm Offshore Nv · EURONEXT:SBMO

Sbm Offshore Nv — Q1 2020 Earnings Presentation

9 slides from Sbm Offshore Nv's earnings presentation, May 14, 2020

  1. Slide 1: First Quarter 2020 Trading Update

    FIRST QUARTER 2020 TRADING UPDATE May 14, 2020 © SBM Offshore 2020. All rights reserved. www.sbmoffshore.com

  2. Slide 2: Disclaimer

    Disclaimer The companies in which SBM Offshore N.V. directly and indirectly owns investments are separate legal entities. In this presentation “SBM Offshore” and “SBM” are sometimes used for convenience where references are made to SBM Offshore N.V. and its subsidiaries in general. These expressions

  3. Slide 3: Sequence of disruptive events

    Sequence of disruptive events Brent price – historic and forecast (US$) Source: Morgan Stanley COVID-19 OPEC / Russia Supply-demand shock February 2020 March 2020 April/May 2020 © SBM Offshore 2020. All rights reserved. www.sbmoffshore.com 3

  4. Slide 4: Global pandemic and market conditions response

    Global pandemic and market conditions response Priority to health, safety and business continuity • COVID-19 response strategy • Protocols to prevent and minimize impact Lease and Operate • Contractual protection for “force majeure” events • Managing yards activity and supply chain capacity Project

  5. Slide 5: Our Strategy guiding us through the crisis

    Our Strategy guiding us through the crisis OPTIMIZE TRANSFORM INNOVATE • Care for our people • Capitalize on Fast4Ward® • Ambition 2030: 25% of revenues from Gas & Renewables by 2030 • Business continuity • Developing eMission ZERO • Cash generation © SBM Offshore 2020. All rights reserved. www.sbmo

  6. Slide 6: First Quarter 2020 Highlights

    First Quarter 2020 Highlights Lease and Operate Revenue Net debt (US$ millions, Directional1) (US$ billions, Directional1) Fleet Uptime 607 99.4% 99.3% 456 200 Turnkey 3.5 3.7 98.3% 145 Turnkey 98.0% 407 L&O 311 L&O 2017 2018 2019 1Q 2020 Q1 2019 Q1 2020 FY 2019 Q1 2020 Project Execution Group Liqui

  7. Slide 7: 2020 Guidance

    2020 Guidance • Directional revenues adjusted from “above” to “around” US$2.3 billion, of which: Lease and Operate around US$1.6 billion Turnkey around US$0.7 billion • Directional EBITDA maintained at around US$900 million COVID-19 could have material impact on Company’s business and results © SBM

  8. Slide 8: Strategic positioning backed by resilient model & experience

    Strategic positioning backed by resilient model & experience Lease and Operate stable free cash flow generator 2045 99% Contractual backlog Historical uptime performance Turnkey premium positioning, cash flow upside Efficient financing model Flexible resourcing and asset light model Company position

  9. Slide 9: © SBM Offshore 2020. All rights reserved. www.sbmoffshore.com

    © SBM Offshore 2020. All rights reserved. www.sbmoffshore.com

SBM Offshore — Q1 2020 Earnings Presentation on 6ix