3.5Shareholder Information

Listing

SBM Offshore has been listed on Euronext Amsterdam since 1965. The market capitalization as at year-end 2020 was US$3.6 billion. The majority of the Company’s shareholders are institutional long-term investors.

Financial Disclosures

SBM Offshore publishes audited full-year earnings results and unaudited half-year earnings results, which include financials, within sixty days after the close of the reporting period. For the first and third quarters, SBM Offshore publishes a trading update, which includes important Company news and financial highlights. The Company conducts a conference call and webcast for all earnings releases and a conference call only for all trading updates during which the Management Board presents the results and answers questions. All earnings-related information, including press releases, presentations and conference call details are available on the SBM Offshore website. Please see the Financial Calendar of 2021 at the end of this section for details of the timing of publication of financial disclosures for the remainder of 2021.

In 2018, the Company expanded its ‘Directional’ reporting. In addition to the Directional income statement, reported since 2013, a Directional balance sheet and cash flow statement are also disclosed in section 4.3.2 of the Consolidated Financial Statements. Expanding Directional reporting aims to increase transparency in relation to SBM Offshore’s cash flow generating capacity and to facilitate investor and analyst review and financial modeling. Furthermore, it also reflects how Management monitors and assesses financial performance of the Company. Directional reporting is included in the audited Consolidated Financial Statements in section 4.3.2.

Dividend Policy & Capital allocation

The Company’s policy is to maintain a stable dividend, which grows over time. Determination of the dividend is based on the Company’s assessment of its underlying cash flow position.

Regarding capital allocation, the Company prioritizes payment of the dividend, followed by the financing of growth, with the option thereafter to repurchase shares, depending on residual financial capacity and cash flow outlook.

Shareholder returns1

Share price development

Share price development in 2020 (in EUR)

Year-end price

EUR 15.565

December 31, 2020

Highest closing price

EUR 17.295

February 13, 2020

Lowest closing price

EUR 10.350

April 27, 2020

For 2020 the press releases covering the key news items are listed below:


Date


Subject Press Release

13-02-20

2019 Full-Year Earnings

13-02-20

Announcement Share Repurchase

13-02-20

Nomination Supervisory Board Members

26-02-20

Annual General Meeting of Shareholders Announcement

03-04-20

Completion 2020 Share Repurchase Program

08-04-20

Annual General Meeting of Shareholders: Company Update and 2020 Resolutions

14-05-20

2020 First Quarter Trading Update

01-07-20

Completion US$600 million bridge loan for FPSO Sepetiba

06-08-20

2020 Half-Year Earnings

21-08-20

Preparing for sale DSVCV SBM Installer

15-09-20

Confirming contract negotiation for Petrobras FPSO

01-10-20

Awarded Contracts for ExxonMobil Prosperity (FPSO)

12-11-20

2020 Third Quarter Trading Update

30-11-20

Update on Legacy

21-12-20

Changes in Supervisory Board

23-12-20

Update on Lease and Operate backlog

Major SHAREHOLDERS

As at December 31, 2020, the following investors holding ordinary shares had notified an interest of 3% or more of the Company’s issued share capital to the Autoriteit Financiële Markten (AFM) (only notifications after July 1, 2013 are included):

Date

Investor

% of share capital

10 July 2020

Parvus Asset Management Europe Limited

5.04%

4 May 2020

FIL Limited

5.07%

19 March 2020

Janus Henderson Group plc

4.91%

28 February 2020

HAL Trust

20.35%

9 November 2015

Dimensional Fund

3.18%

Investor Relations

The Company maintains open and active engagement with its shareholders and aims to provide information to the market which is consistent, accurate and timely. Information is provided among other means through press releases, presentations, conference calls, investor conferences, meetings with investors and research analysts and the Company website. The website provides a constantly updated source of information about our core activities and latest developments. Press releases and presentations and information on shareholder communication can be found there under the Investor Relations Center section.

Financial Calendar


Event


Day


Year

Full-Year 2020 Earnings – Press Release

11 February

2021

Annual General Meeting of Shareholders

7 April

2021

Trading Update 1Q 2021 – Press Release

12 May

2021

Half-Year 2021 Earnings – Press Release

5 August

2021

Trading Update 3Q 2021 – Press Release

11 November

2021