(AOF) – The oil services company SLB (formerly Schlumberger) gained 1.76% to $49.42 in New York thanks to excellent annual results for 2023. Over this period, its net profit increased by 22 % to reach $4.20 billion. Adjusted Ebitda increased 25% to $8.11 billion. The group generated sales of $33.14 billion, up 18% compared to 2022. Its revenues were supported by the strength of its activities in the Middle East. They show an increase of 22% to more than 11 billion dollars.
SLB claims to have “achieved its highest-ever revenue in the Middle East, driven by impressive growth in Saudi Arabia, UAE, Egypt and the Eastern Mediterranean GeoUnits.”
Its adjusted earnings per share jumped 37% to $2.98 in 2023. The Houston, Texas-based company generated free cash flow of $4 billion this year.
Following this strong annual performance, SLB’s board of directors approved a 10% increase in the quarterly cash dividend to $0.275 per share. SLB also plans to increase share buybacks in 2024.
In terms of prospects, SLB anticipates another year of strong growth in 2024, driven in particular by international markets and continued growth in its “Production Systems” division.
In addition, its capital investments for the year 2024 are expected to amount to nearly $2.6 billion, the same level as for the year 2023.
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