2002 Annual Report - SBM Offshore

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2 FPSO Mystras: An artist’s impression of the Okono/Okpoho FPSO to replace the Early Production Unit Jamestown (inserted) end of 2003. The offloading buoy is in the background.
3 Corporate profile 1 Snapshot of 2002 / Overview of 2003 4 Five years key graphics 6 Shareholder information 7 Report of the Board of Management 8 Foreword 8 Outlook 2003 11 Developments 2002 14 Research and Development 22 Business drivers and competitive position 25 Management of risk 26 Health, safety and protection of the environment 29 Human resources 30 Corporate Governance 32 Financial review 34 Operations in Group companies 40 Report of the Supervisory Board 56 Annual Accounts 2002 Consolidated profit and loss account 62 Consolidated balance sheet 63 Consolidated statement of cash flows 64 Accounting principles 65 Notes to the Consolidated profit and loss account 68 Notes to the Consolidated balance sheet 71 Company balance sheet 77 Company profit and loss account 77 Notes to the Company balance sheet 78 Other information Appropriation of profit 81 Auditors’ report 81 Key figures 82 This report is also published in the Dutch language. Only the Dutch language edition of the Annual Accounts will be submitted for approval by the General Meeting of Shareholders. Glossary A technical glossary is again enclosed with this Annual Report, to ensure that key technical terms and products are clearly explained and understood. The latest version is also available on the Company’s website.
Page 1 and 2: A N N U A L R E P O R T 2 0 0 2
Page 3: IHC Caland N.V. IHC Caland designs,
Page 7 and 8: 5 OVERVIEW OF 2003 Financial Once a
Page 9 and 10: Shareholder information Entry into
Page 11 and 12: x continue to grow the Group’s le
Page 13 and 14: OUTLOOK 2003 The year begins with a
Page 15 and 16: Two units which are contractually s
Page 17 and 18: favourable terms and conditions in
Page 19 and 20: Competition In the market of FPSO
Page 21 and 22: DREDGER/SPECIALISED SHIPBUILDING AC
Page 23 and 24: contractors were no longer allowed
Page 25 and 26: Ultra Deepwater Field Layout - A co
Page 27 and 28: BUSINESS DRIVERS AND COMPETITIVE PO
Page 29 and 30: FPSO/FSO operation risk The major c
Page 31 and 32: HEALTH, SAFETY AND PROTECTION OF TH
Page 33 and 34: involvement in the Group. To the ex
Page 35 and 36: NV, Mr. N. Buis, former CEO of Smit
Page 37 and 38: 2500 2000 1500 1000 500 0 6000 5000
Page 39 and 40: The impact on 2002 of the requireme
Page 41 and 42: up from the detail of each project
Page 43 and 44: year’s technological highlights,
Page 45 and 46: SBM PC has achieved an outstanding
Page 47 and 48: IHC GUSTO ENGINEERING BV Management
Page 49 and 50: ATLANTIA OFFSHORE LIMITED Managemen
Page 51 and 52: DREDGER/SPECIALISED SHIPBUILDING AC
Page 53 and 54: x two fully intelligent integrated
Page 55 and 56:
MERWEDE SHIPYARD Management: T. Rie
Page 57 and 58:
NKI GROUP Management: G. Aerts, Man
Page 59 and 60:
A delegation from our Supervisory B
Page 61:
INFORMATION REGARDING SUPERVISORY B
Page 65 and 66:
Consolidated balance sheet in thous
Page 67 and 68:
Accounting principles General Excep
Page 69 and 70:
Provisions Provisions are made for
Page 71 and 72:
The remuneration of the Supervisory
Page 73 and 74:
9. Intangible fixed assets Goodwill
Page 75 and 76:
12. Work in progress less 2002 2001
Page 77 and 78:
The following important financial c
Page 79 and 80:
Company balance sheet in thousands
Page 81 and 82:
In 1991 the Supervisory Board of th
Page 83 and 84:
Other information Appropriation of
Page 85 and 86:
1997 1996 1995 1994 1993 753.7 705.
Page 87:
IHC Caland N.V. Postal address P.O.
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2002 Annual Report - SBM Offshore

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