SBM Offshore Expects Flat Directional Revenue


AMSTERDAM, Feb 6 (Reuters) – SBM Offshore, the Dutch maritime engineering group, on Thursday forecast flat directional revenue of $3.4 billion for 2014, after posting a net loss due to one-off charges.

SBM Offshore, which booked a charge of $270 million in 2013 to settle a dispute at the Norwegian Yme project, said it does not expect positive free cash flow in 2014 or 2015.

SBM Offshore, whose main area of business is floating, production, storage and offloading platforms, or FPSOs, published full-year results using a different reporting system – known as directional reporting – which it said was intended to give a clearer picture of operating cash flow.

(Reporting by Anthony Deutsch; Editing by Sara Webb)

Copyright 2017 Thomson Reuters. Click for Restrictions.


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Electronics technician
Expertise: Electrical Technician|Field Service Tech|Mechanical Technician
Location: El Reno, OK
International Accountant
Expertise: Accounting
Location: Downers Grove, IL
Senior Operator 1 - Slickline
Expertise: Slickline
Location: Kenai, AK
search for more jobs

Brent Crude Oil : $48.6/BBL 1.12%
Light Crude Oil : $46.34/BBL 1.24%
Natural Gas : $2.9/MMBtu 2.35%
Updated in last 24 hours