Dutch-based SBM Offshore (SBFFY.PK), a provider of services to the offshore oil and gas industry, reported that its first-quarter directional revenue was US$871 million, a 17% increase compared with US$742 million for the same period in 2023. The 17% increase was mainly attributable to the Lease and Operate segment.
Directional Turnkey revenue for the first quarter increased by 9% to US$316 million compared with the same period in 2023.
The Company's 2024 Directional revenue guidance is maintained at around US$3.5 billion of which around US$2.2 billion is expected from the Lease and Operate segment and around US$1.3 billion from the Turnkey segment.
2024 Directional EBITDA guidance is maintained around US$1.2 billion for the company.
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