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19.03.2019 – 08:00

Schoeller-Bleckmann Oilfield Equipment AG

EANS-News: Schoeller-Bleckmann Oilfield Equipment AG posts significant increase in earnings in 2018 - ATTACHMENT

  Corporate news transmitted by euro adhoc with the aim of a Europe-wide
  distribution. The issuer is responsible for the content of this announcement.

Annual Report

Ternitz/Vienna - 19 March 2019.

* Sound environment in North America and revival of international markets spur
* Sales rise by approximately 30 % to MEUR 420, EBIT almost tripled to
  approximately MEUR 71
* Proposed dividend of EUR 1.00 per share

Ternitz/Vienna, 19 March 2019. Schoeller-Bleckmann Oilfield Equipment AG (SBO),
listed on the ATX market of the Vienna Stock Exchange, looks back on a
successful 2018 business year. As SBO had sized up capacities early, the company
benefited from its strong position in North America and the recovery of the
international markets so as to serve increased demand. This led to a marked
increase in earnings and a significant improvement of the company's key
performance indicators.

Bookings received by SBO in 2018 climbed by 40.9 % to MEUR 481.9 (2017: MEUR
342.0). Sales rose by 29.6 % and arrived at MEUR 420.2, following MEUR 324.2 in
2017. Order backlog at the end of 2018 was MEUR 97.7 (31. December 2017: MEUR

Earnings before interest, taxes, depreciation, and amortization (EBITDA) went up
from MEUR 74.7 in 2017 to MEUR 120.0 in 2018. EBITDA margin stood at 28.6 %,
above the long-term average of 24.3 %. Profit from operations (EBIT) before non-
recurring items tripled from MEUR 23.6 in 2017 to MEUR 74.6, and the EBIT after
non-recurring items totalled MEUR 70.7 (2017: MEUR 25.6). This figure includes
expenses resulting from a restructuring program under which SBO is closing two
sites in Mexico and England. Production capacities will be relocated to other
sites to retain them to a large extent. These measures are additional steps for
efficiency and productivity enhancements within the Group.

SBO improved profit before tax substantially to MEUR 55.9, compared to MEUR
minus 69.8 in 2017. Profit after tax was MEUR 41.4 (2017: MEUR minus 54.4). The
financial result arrived at MEUR minus 14.8 (2017: MEUR minus 95.4). The results
of the previous year had included non-cash expenses related to the shares of
minority shareholders (option) of a company acquired in 2016. Earnings per share
amounted to EUR 2.59 in 2018 (2017: EUR minus 3.41).

"A sound year lies behind us. We promptly responded to the improved market
situation and adjusted the headcount to the increase in demand. With that, we
could make perfect use of the momentum of the upswing, as can be seen from our
results", says Gerald Grohmann, CEO of SBO. "In addition to the growth in North
America, recovery in the international markets has finally set in. This was an
important development after three years of crisis in the market and provided a
good starting point for 2019."

Sound balance sheet
The balance sheet structure of SBO remains sound. Shareholders' equity increased
to MEUR 368.2 (2017: MEUR 322.0). The equity ratio of SBO at the end of 2018 was
40.9 % (2017: 42.9 %), the net debt was MEUR 62.5 (2017: MEUR 50.7). Liquid
funds totalled MEUR 241.5 (2017: MEUR 166.0). Cashflow from operating activities
came to MEUR 33.4 (2017: MEUR 44.6), and the gearing ratio arrived at 17.0 %
(2017: 15.7 %). Capital expenditure for property, plant, and equipment and
intangible assets (CAPEX), including expenditures for extending production
capacities, rose to MEUR 35.9 (2017: MEUR 32.1). Purchase commitments for
property, plant, and equipment amounted to MEUR 2.1 (2017: MEUR 1.2).

The Executive Board will propose to the Annual General Meeting a dividend of EUR
1.00 per share for business year 2018 (compared to EUR 0.50 in the previous

Sustainable growth strategy
SBO is consistently pursuing its sustainable growth strategy through focused
capacity expansion and deployment, ongoing research and development activities
and continuous efficiency improvements. Innovations such as "all composite frac
plugs" in the Well Completion application area and the "Direct Metal Laser
Sintering" (DMLS) centers in Austria and the United States, where customized,
highly complex metal parts are produced in 3D printing, are driving forward
SBO's role as frontrunner. "Our spending focus is on securing our growth so we
can keep offering our customers highly efficient products of superior quality",
concludes Grohmann and adds: "Despite the uncertainties on the capital markets,
the outlook for the year 2019 remains positive."

Comparison of SBO's key performance indicators
|                  |                   |               2018|               2017|
|Earnings before   |                   |                   |                   |
|interest, taxes,  |                   |                   |                   |
|depreciation and  |               MEUR|              120.0|               74.7|
|amortization      |                   |                   |                   |
|Profit from       |                   |                   |                   |
|operations (EBIT) |               MEUR|               74.6|               23.6|
|before non-       |                   |                   |                   |
|Profit from       |               MEUR|               70.7|               25.6|
|Cashflow from     |                   |                   |                   |
|operating         |               MEUR|               33.4|               44.6|

SBO is a leading supplier of tools and equipment for directional drilling and
well completion applications and the global market leader in the manufacture of
high-precision components made of non-magnetic steel. The product offering
ranges from complex customized components for the oilfield service-industry to
high-efficiency solutions and products for the oil and gas industry. As of 31
December 2018, SBO employed a workforce of 1,646 worldwide (31 December 2017:
1,432), thereof 369 in Ternitz / Austria and 861 in North America (including

Further inquiry note:
Andreas Böcskör, Head of Investor Relations
Schoeller-Bleckmann Oilfield Equipment AG
A-2630 Ternitz, Hauptstraße 2
Phone: +43 2630 315 ext 252, fax ext 101

Ildiko Füredi-Kolarik
Phone: +43 1 504 69 87 ext 351
Metrum Communications GmbH 

end of announcement                         euro adhoc

Attachments with Announcement:

issuer:       Schoeller-Bleckmann Oilfield Equipment AG
              Hauptstrasse 2
              A-2630 Ternitz
phone:        02630/315110
FAX:          02630/315101
ISIN:         AT0000946652
indexes:      ATX, WBI
stockmarkets: Wien
language:     English

Original content of: Schoeller-Bleckmann Oilfield Equipment AG, transmitted by news aktuell