2002 Annual Report - SBM Offshore

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3.50 3.00 2.50 2.00 1.50 1.00 0.50 100 75 50 25 0 0 Five key graphics In € 2.44 Weighted average EPS 2.51 2.68 2.76 1998 1999 2000 2001 2002 In millions of € 66.3 69.5 75.2 Net profit 80.6 1998 1999 2000 2001 2002 2.26 71.5 6 25 20 15 10 5 0 6000 5000 4000 3000 2000 1000 0 2500 2000 1500 1000 500 0 In % 16.9 1998 1999 2000 2001 2002 In millions of € 2534 In millions of € 1453 14.9 2169 831 Return on average capital employed 13.3 New orders 1389 13.4 Order portfolio (per 31 December) 2849 4103 1998 1999 2000 2001 2002 2206 1998 1999 2000 2001 2002 7.5 4855 1924
Shareholder information Entry into AEX index On 4 March 2003, IHC Caland was admitted to the AEX index of the Euronext Amsterdam Stock Exchange. The Company is honoured to join the 24 other major Dutch companies in this prestigious index. The Company’s weighting in the AEX index on entry is 0.67%, compared with its final weighting in the AMX index of 11.6%, so there is still some room to expand! Share price development Over the course of the year, the Company’s share price fell from € 52.50 to € 50.30, a fall of 4.2%. This compares with falls in the AEX and AMX of 36.3% and 34.8% respectively. Based on the year-end closing price, the proposed dividend of € 1.50 gives a yield of 3%. US dollar reporting As already advised, effective 1 January 2003 the Company will report its results only in US dollars. In future therefore, the annual dividend will be calculated in US dollars, but will be payable (at the shareholder’s option) in dollars, or in Euros at the exchange rate on the day of payment. The same exchange rate will apply in the event a shareholder chooses for a dividend payment in shares of IHC Caland. The dividend in respect of 2002 will be payable only in Euros. Number of outstanding ordinary shares The total number of ordinary shares in IHC Caland showed the following movements during the year 2002: Balance 1 January 2002 31,413,852 Stock dividend 265,991 Options exercised 188,475 Balance 31 December 2002 31,868,318 IHC Caland N.V. Relative to AEX Relative to AMX 100 90 80 70 60 50 40 30 20 10 € 0 1998 1999 2000 S h a r e p r i c e 7 Shareholders As required under the Major Holdings in Listed Companies Disclosure Act, no shareholder has disclosed an interest over 5% in the capital of IHC Caland. Employees of the Group own approximately 200,000 shares in IHC Caland through an Employee Share Ownership Plan (ESOP). The Company’s shares are currently almost entirely in the hands of institutional investors, of whom the large majority are Anglo-American. Financial Full information regarding the number of shares in issue and various statistics per share can be found on page 82. Up to date information on the IHC Caland share can be found on the Company’s website at: www.ihccaland.nl 2001 Turnover % Highest Lowest by volume Share Share Share Capital Price € Price € 1998 20,352,966 74.83 57.72 29.95 1999 29,200,395 106.23 49.20 26.40 2000 24,208,898 86.82 61.40 31.00 2001 27,342,047 93.68 65.60 40.60 2002 26,892,853 83.64 64.95 41.32 Average daily liquidity in 2002 amounted to around 105,000 shares. The average closing share price for the year was € 54.25, and the year-end closing price was € 50.30. 2002 2003 IHC Caland
Page 1 and 2: A N N U A L R E P O R T 2 0 0 2
Page 3 and 4: IHC Caland N.V. IHC Caland designs,
Page 5 and 6: 3 Corporate profile 1 Snapshot of 2
Page 7: 5 OVERVIEW OF 2003 Financial Once a
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
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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
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A delegation from our Supervisory B
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INFORMATION REGARDING SUPERVISORY B
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Consolidated balance sheet in thous
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Accounting principles General Excep
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Provisions Provisions are made for
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The remuneration of the Supervisory
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9. Intangible fixed assets Goodwill
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12. Work in progress less 2002 2001
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The following important financial c
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Company balance sheet in thousands
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In 1991 the Supervisory Board of th
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Other information Appropriation of
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1997 1996 1995 1994 1993 753.7 705.
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IHC Caland N.V. Postal address P.O.
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2002 Annual Report - SBM Offshore

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