Highlights
- net profit of US$ 266.8 million, a 23.3% increase in comparison with 2006 (US$ 216.3 million);
- net profit excluding non-recurring items increases by 28%;
- earnings per share of US$ 1.85, (US$ 1.55 in 2006) and proposed dividend per share is US$ 0.93 versus US$ 0.77 in 2006;
- turnover of US$ 2,871 million, a 44% increase in comparison with US$ 1,990 million in 2006, mainly from expanded turnkey sales and services activities;
- total order portfolio at year-end US$ 7,955 million (US$ 6,992 at the end of 2006);
- operating profit (EBIT) of US$ 302.0 million compared with US$ 254.3 million in 2006;
- EBIT margin 10.5% compared to 12.8% in 2006;
- EBITDA amounted to US$ 548.3 million, compared to US$ 477.5 million in 2006;
- two orders for jack-up production facilities on lease;
- sale of 20% in the FPSO Capixaba to STAR, an affiliate of Brazilian strategic partner Queiroz Galvao (QGP);
- delivery of two major lease projects, the FPSO Kikeh for Murphy Oil in Malaysia and the FPSO Mondo for ExxonMobil in Angola;
- capital expenditure of US$ 551 million (US$ 309 million in 2006);
- sale of airport infrastructure activities (NKI).

1. Dividend
The dividend proposal is based on 50% of the total profit for the year, resulting in a dividend of US$ 0.93 per share.
The dividend may be fully paid in either cash or shares (stock dividend) at the shareholder's option. As the Company's shares are quoted in Euros, the cash payment will be made in Euros. Conversion from US Dollars into Euros will be against the currency exchange rate on May 15, 2008, the day of the
Annual General Meeting of Shareholders.

3. Expectations for 2008
The projected 2008 net profit is US$ 280 million.
EBIT contributions from turnkey supply and services, and lease and operate activities are expected to be more balanced than in 2007.
Capital expenditure is expected to accelerate to around US$ 1.2 billion, depending on accounting treatment for recently awarded and prospective lease contracts.
Net gearing will increase back to a level well above 100%.

more info on Website: www.sbmoffshore.com