In February 2006, BOURBON announced the Horizon 2010 plan, a strategy based on a fresh appraisal of the market and the consequent investment in a modern fleet.
In February 2008, BOURBON is announcing its Horizon 2012 strategic plan, which continues and prolongs its outlook.

Horizon 2012 plan : ambitious objectives

The Horizon 2012 plan, which defi nes the Group’s strategy and objectives for the next 5 years, is characterized by ambitious objectives underpinned by very sizeable investment sums:

  • expected average annual growth in revenues of 17% (21% for the Offshore Division and 7% for the Bulk Division);
  • a sharp rise in the number of vessels;
  • an investment volume, over and above the installments paid out in 2007, of 2 billion euros, with 85% to the Offshore Division, and largely fi nanced by operations;
  • EBITDA (gross operating income) target on average capital employed of 18% in 2012.

An enlarged offshore offer to meet market demand

Having established a modern fleet for deepwater offshore, BOURBON is expanding its offer in two directions:

  • innovative and highly productive vessels to replace old and obsolete vessels currently operating on mature continental offshore fi elds. These units are produced in series in competitive shipyards and offer the maneuverability of dynamic positioning as well as the cost control of diesel electric for shallow water offshore. Their capacity to also operate in deepwater make them a perfect tool for improved productivity in oilfield logistics.
  • a Subsea Services Activity that integrates dedicated deepwater IMR vessels (Inspection, Maintenance, Repair), subsea robots and offshore management and engineering.

The common feature of this expansion in BOURBON’s offer is that it primarily addresses production activities, for which the demand can be forecasted and which will be decisive for the clients’ operations.

Bulk market: strong growth

BOURBON has decided to develop its business and invest in new vessels. Under the Horizon 2012 plan, 300 million euros will be invested in the construction of 16 new vessels (4 panamax, 11 supramax and 1 cement carrier).

Key figures

  • + 17% annual average growth in revenues
  • 2 billion euros in investments
  • 440 directly-owned vessels & 21 ROVs