Sbm Offshore Nv Ord (SBFFF) Q2 2021 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, ladies and gentlemen. Thank you for holding, and welcome to the SBM Offshore Half Year 2020 One Results Call. At this moment, all participants are in listen-only mode. After the presentation, there will be an opportunity to ask questions. I would now like to hand over the conference to Mr. Bruno Chabas. Please go ahead, sir. Thank you, Professor, and welcome to the 2021 Earnings Update Call. My name is Bruno Chabas, CEO of SBM Offshore, and I'm joined today by the Management Board with Philippe Barry, COO, Eric Lachandike, CGCO, and Douglas Wood, CFO. I will present the general update of the company, after which Douglas will talk through the financial. We will welcome any questions at the end of the prepared section of this call. So, as always, You can go through the disclaimer at your leisure. And then we're going to go to the first highlight, to the highlight of the first half of the 2021. So starting with this, SVM Offshore is going through a major growth phase with the announcement of two FPSO awards over the last six months. We now have five years of production. All the five FPSO are building on our fast-forward technology. It shows that the concept is realizing its potential to be a game-changer of our FPSO industry. This growth is shown in our financials with a record backlog of almost $30 billion today. We forecast a net cash generation for lease and operate activity of almost $9 billion today. Our contractual backlog now covers a 30-year period up to 2050. We announced today the launch of a €150 million share-buy-buy program, converting our solid performance for our clients into value to our shareholders. Finally, we are scaling up our portfolio. Key milestones achieved on offshore wind business. I need to emphasize here that our outstanding pe...