2011 Annual Report - SBM Offshore

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1.4.5 Investor Relations The Company maintains active communications with its shareholders on several different occasions, events or meetings in order to keep them informed on the general and specifically financial aspects of the business. The information is provided in written form in the Annual Report, in the minutes of meeting of the AGM, in press releases and in presentations for financial analysts. All of which are distributed electronically on the website, via email and in hardcopy format. The Company also addresses shareholders face-to-face during the AGM, at investor meetings, analyst presentations (which are webcasted), and verbally via conference calls. In November 2011, the Company arranged for 14 sell-side financial analysts to visit ongoing projects in Singapore, along with the Company’s CFO, Mr Mark Miles and the Company’s COO, Mr Bruno Chabas. The Company attended 24 road shows and conferences during 2011. 1.4.6 Stakeholders engagement The Company's primary stakeholder groups are employees, clients and business partners, capital providers, shareholders, suppliers and Non-Governmental Organisations (NGO), local authorities and local host communities. The Company encourages and actively maintains open, respectful engagement with its stakeholders, including employee delegates, NGOs and clients along the year and at annual shareholders meetings. SBM Offshore rebranding: Stakeholders' involvement During 2011, the Company commenced a comprehensive rebranding exercise, which necessitated extensive engagement with key stakeholders groups in order to canvas their views. A number of exploratory interviews were conducted (by a third party and confidentially) with members of the Supervisory Board, members of the Board of Management and other senior leaders in the organisation. Consequently the Company acquired a wealth of information from individuals who have considerable direct experience of SBM Offshore and established relationships with other external stakeholders. A second round of interviews was held with clients and with financial analysts who monitor SBM Offshore. They were asked how they perceived SBM Offshore’s strategy, communication methods, reputation and brand presence. Their answers will contribute directly to the overall rebranding initiative. In addition to face-to-face interviews, an online survey was sent to all Company employees across the world;; producing close to 2,000 individual responses to questions regarding communications, branding, and employee engagement and satisfaction. Encouraged by the response levels to this survey, SBM Offshore intends to carry out regular employee engagement surveys in future. Information provided through both the employee survey and face-to-face interviews is helping the Company build a new brand position along with a corresponding vision and set of values. A series of internal workshops were subsequently conducted to develop and agree a new SBM Offshore brand model and a new visual identity. Both elements were concluded at the end of 2011 and are scheduled for launch in March 2012. This is a customized selection from the SBM Offshore N.V. Annual Report 2011 10
1.4.7 Reporting External sustainability reporting consists in participating with the following intiatives: Dow Jones Sustainability Index In September 2011, SBM Offshore was admitted to the Dow Jones Sustainability Index (DJSI) World, following its successful inclusion in the DJSI Europe in 2010. SBM Offshore has achieved a new step this year, by becoming one of the five components of the DJSI World Oil equipment and services sector. The quality of SBM Offshore’s environmental and social reporting and its capacity to attract and retain talents are especially highlighted by DJSI’s evaluation. Integration in DJSI demonstrates the Company’s commitment to conduct business in a sustainable and responsible manner. Carbon Disclosure Project The Company has participated in the Carbon Disclosure Project (CDP) for the Netherlands since 2009 and continuously improved its score year on year. The Carbon Disclosure Leadership Index assesses the quality and depth of a company’s response to the annual CDP questionnaire for its internal management of data related to GreenHouse Gases (GHG) emissions and its understanding of the business-related issues that climate change presents. Transparantie Benchmark The "Transparantie Benchmark” is an initiative launched in 2004 by the Dutch Ministry of Economic Affairs, to improve transparency of corporate social responsibility reporting by Dutch companies. The Company has been involved since the initiative was launched, as one of The Netherland's largest 500 organisations. In 2011, SBM Offshore achieved a score of 138 out of a possible 200, an improvement of 41% over the previous year. SBM Offshore is currently ranked 56th out of the 500 participating organisations. This is a customized selection from the SBM Offshore N.V. Annual Report 2011 11
Page 2 and 3: Table of contents 1 Overview 1 1.1
Page 4 and 5: esource, through selected R&D, to m
Page 6 and 7: Business Model The Company generate
Page 8 and 9: 1.3 Snapshot 2011 (US$ mln.) 2011 2
Page 10 and 11: 1.4 Stakeholders Information 1.4.1
Page 14 and 15: 1.5 Corporate Strategy 1.5.1 Introd
Page 16 and 17: 1.5.2 Vision, promises and values V
Page 18 and 19: The Company only enters partnership
Page 20 and 21: Supply Chain In line with its Code
Page 22 and 23: 1.6 Corporate Management Systems &
Page 24 and 25: Status updates for the implementati
Page 26 and 27: This is a customized selection from
Page 28 and 29: organisation has been implemented w
Page 30 and 31: 3.1.6 Local Content Brazil In Brazi
Page 32 and 33: New contracts During 2011 the Compa
Page 34 and 35: 3.4 Product and Technology Developm
Page 36 and 37: time, and cost. 3.4.3 Offshore LNG
Page 38 and 39: Appointment of a Managing Director
Page 40 and 41: Loans or guarantees No loans or gua
Page 42 and 43: In case a binding proposal is made,
Page 44 and 45: 3.5.5 Shareholders Share capital At
Page 46 and 47: Dividend The Management Board is au
Page 48 and 49: former notary and presently a lawye
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Page 52 and 53: Onshore Operations In addition to t
Page 54 and 55: voluntary basis in Brazil for Occup
Page 56 and 57: Permit-to-Work (Carros) Safety is a
Page 58 and 59: Although unhappy with the increases
Page 60 and 61: 2012. The primary emissions from th
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3.8 Human Resources 3.8.1 Introduct
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The total headcount is based on all
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This is a customized selection from
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The Employee Share Ownership Plan,
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White Collar Staff Training is base
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3.9 Sustainable Initiatives 3.9.1 C
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3.9.2 Supply Chain in Focus SBM Off
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3.9.3 Local content In a number of
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Equatorial Guinea A very motivated
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the building process, an SBM team a
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This is a customized selection from
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5.1.2 Environmental Reporting Envir
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Total Production of Hydrocarbons Of
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HSS Accident Statistics for Dynamic
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Regional CO2 Emissions Values expre
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Permanent Part Time Employees Headc
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Women Men Equality % of Women in ma
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GRI Index Level C Vision and Strate
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LTIFR = (LTI x 200,000)/ EH Where:
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