2.2How Value is Created

By defining value drivers that strengthen its business proposition, SBM Offshore ensures that it offers differentiated products and a service that matches clients’ needs with the assurance of excellent performance throughout the full product life-cycle. Each value driver combined with their synergies maximize the added value for clients, shareholders and other stakeholders.

SBM Offshore has taken the first step towards developing its Integrated Business model in line with IIRC integrated reporting framework (see below). The vision and values that encompass the whole organization are reflected in the model and described in detail in section 1.3.

The four values of the Company reflect its long history of industry leadership: Care, Integrity, Entrepreneurship and Ownership.

The core of the model shows its business activities and outputs that have been described in more detail in section 1.6. The two main activities, construction and lease & operate of a facility are clearly identified.

In this version of the model the input capital is described as a Value driver and the outcome as Added value. The next revision of the model is under development and will incorporate individual capitals and address outcomes in more detail.