SBM Offshore lifts 2025 outlook after strong half-year results

Dutch oil and gas services company SBM Offshore raised its full-year core profit and revenue forecasts on Thursday, following a strong financial performance in the first half of 2025.

The company, which provides floating production services to the offshore energy industry, sees directional revenue of more than $5 billion, after saying it would exceed $4.9 billion in February. Analysts on average had projected revenue of $4.96 billion for the year, according to a company-compiled consensus.

Strong execution and the commissioning of two major floating production, storage and offloading vessels (FPSOs) in Brazil contributed to the improved first-half results and the outlook hike, CEO Øivind Tangen said in a press release.

"The deepwater market outlook remains robust, driven by the demand for cost-efficient and low-emission oil production," Tangen said.

SBM Offshore operates in the deepwater segment, where production costs per barrel are typically lower than in other offshore regions. This positioning helps shield the company from oil price volatility, making its business model more resilient amid market fluctuations.

The group's directional revenue rose 26 per cent to $2.31 billion in the six-month period, beating analysts' consensus of $2.29 billion. It was supported by the turnkey segment, which builds and sells FPSOs, where revenues doubled in the first half.

SBM Offshore uses directional reporting, which recognises revenue from payments received during construction phases before lease contracts are activated.

(Reporting by Anna Peverieri in Gdansk, editing by Milla Nissi-Prussak)