SBM Offshore (SBFFY.PK) said its first quarter turnover was $763 million, up 12% from the prior year's $683 million.
Cumulative order intake for the first three months amounted to $564 million. Order portfolio at 31 March 2012 totalled $16.7 billion of which approximately $3.2 billion is expected be recognised as turnover in 2012.
Bruno Chabas, CEO of SBM Offshore, commented,
"SBM Offshore's first quarter performance maintained the trend of consistent year-on-year growth. Strong momentum in the oil & gas upstream market continues to drive demand for FPSOs and related products..."
The company reiterated its 2012 outlook and expects turnover in the region of $4 billion. Underlying Lease and Operate EBIT margin is still expected to be in-line with 2011 level.
The company also confirmed the nomination of Peter van Rossum as Chief Financial Officer. His appointment to the Management Board is subject to approval by shareholders on June 27.
Peter brings with him a wealth of financial and oil industry expertise and will be a valuable asset for SBM Offshore and the company looks forward to him joining the team on July 2.
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