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Schoeller-Bleckmann Oilfield Equipment AG

euro adhoc: Schoeller-Bleckmann Oilfield Equipment AG
quarterly or semiannual financial statement
Schoeller-Bleckmann Oilfield Equipment AG: Profit before tax doubled in the first nine months of 2006 - sales up 43 %, positive market environment remai

  Disclosure announcement transmitted by euro adhoc. The issuer is responsible
  for the content of this announcement.
23.11.2006
Schoeller-Bleckmann Oilfield Equipment AG: Profit before tax doubled
in the first nine months of 2006 - sales up 43 %, positive market
environment remains
Ternitz, 23 November 2006. Schoeller-Bleckmann Oilfield Equipment AG
(SBO), listed on the ATX prime market of the Vienna Stock Exchange,
could continue its course of growth throughout the third quarter of
2006. Compared with the previous year, sales revenues in the first
nine months of 2006 rose by 43 % to MEUR 176.6 (following MEUR
123.9). Profit before tax doubled by 101 % to a total of MEUR 33.9
following MEUR 16.9 year-on-year. Net income was improved by 105 %
from MEUR 12.0 in the first nine quarters of 2005 to MEUR 24.5 in the
same period of 2006. The EBIT margin arrived at a record level of
19.9 % (following 14.5 % year-on-year) in the first three quarters of
2006.
The booming development in the oilfield service industry continued
undiminished also over the third quarter of 2006. The sustained high
demand for oil and the ambitious exploration programmes of
international oil companies are supporting the current upswing in the
industry.  Schoeller-Bleckmann has made full use of the strong market
environment by implementing its capacity expansion programme launched
in 2005 on which SBO has spent MEUR 58 by now. In the process, at the
Ternitz site the first machine tools for high-precisions components
(MWD/LWD) acquired under the capacity expansion programme were
already commissioned, and the construction works required for the
next expansions stages were advanced speedily. Moreover, despite of
the tense labour market situation concerning skilled workers in the
oilfield service industry, the group’s headcount was massively
increased by around 20 %, in particular in production.
The strong demand was mirrored in a new record level of bookings
worth MEUR 102.1 received in the third quarter of 2006. For the first
time ever, the MEUR 100 threshold for quarterly bookings was
exceeded. The demand was observed in all segments and regions alike.
Part of the most recent orders have already been scheduled for fiscal
2008. The order backlog at the end of the third quarter amounted to
MEUR 218.3, up 91 % against the comparative figures of the previous
year.
Sustained positive development expected for the 2006 business year
SBO expects the strong market environment in the oilfield service
industry to sustain throughout the next quarters. The challenges to
be met in the months ahead will be the further expansion and
optimisation of production capacities, planning and procurement of
required raw materials and the speedy implementation of the capacity
expansion and investment programme. As for fiscal 2006,
Schoeller-Bleckmann expects to see another absolute record year.
However, effects such as the euro-dollar exchange rate at the end of
the year will have to be considered.
Comparison of key figures in MEUR
1-9/2006      1-9/2005
Sales revenues         176.6         123.9
EBIT                    35.1          17.9
EBIT margin (%)         19.9          14.5
Profit before tax       33.9          16.9
Net income              24.5          12.0
EPS*                     1.53          0.80
Headcount**          1,051           875
*       based on average shares outstanding
**      Reporting date September 30
Schoeller-Bleckmann Oilfield Equipment AG is the global market leader
in high-precision components for the oilfield service industry. The
business focus is on non-magnetic drillstring components for
directional drilling. Worldwide, SBO employs a workforce of 1,051
(December 31, 2005: 913), 275 at Ternitz/Austria and 550 in North
America (including Mexico).
end of announcement                               euro adhoc 23.11.2006 08:30:00

Further inquiry note:

Gerald Grohmann, Chief Executive Officer,
Schoeller-Bleckmann Oilfield Equipment AG,
A-2630 Ternitz, Hauptstraße 2,
Tel: +43 2630/315 ext 110, fax: ext 101,
E-Mail: sboe@sbo.co.at,

Mick Stempel, Hochegger|Financials,
Tel: +43 1/504 69 87 ext 85,
E-Mail: m.stempel@hochegger.com,

Branche: Oil & Gas - Upstream activities
ISIN: AT0000946652
WKN: 907391
Index: WBI, ATX Prime
Börsen: Wiener Börse AG / official dealing

Original-Content von: Schoeller-Bleckmann Oilfield Equipment AG, übermittelt durch news aktuell

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