Schoeller-Bleckmann Oilfield Equipment AG: Preliminary result for 2019
- SBO posts solid development against weak market environment in North America
- Sales climb to MEUR 445, operating result (EBIT) arrives at MEUR 60
Ternitz/Vienna, 16 January 2020. Schoeller-Bleckmann Oilfield Equipment AG (SBO), listed on the ATX market of the Vienna Stock Exchange, posts a sound 2019 financial year, proving the company's strategically broad positioning in a very dynamic market environment. Demand for SBO's high-quality products and services ensured correspondingly positive results.
Based on a review finding by the Austrian Enforcement Panel for Financial Reporting in December 2019, SBO is preparing a non-cash, retroactive restatement of the goodwill of a subsidiary in an (expected) amount of MEUR 23.8 as of 31 December 2018. The restatement of the consolidated financial statements 2018 will be published in the Annual Report 2019 on 18 March 2020.[1]
According to the preliminary figures for 2019, SBO's sales increased to MEUR 445 year-on-year (2018: MEUR 420.2). Bookings came to MEUR 467, following MEUR 481.9 in 2018. The operating result (EBIT) amounted to MEUR 60 (2018[2]: MEUR 46.9). Profit before tax was MEUR 47 at year-end (2018[2]: MEUR 32.1).
"Large regional differences created a challenging environment for our industry in 2019," says CEO Gerald Grohmann. “The international market environment developed positively and in line with our expectations. While demand in North America was stable at the beginning of the year, it showed a strong downward trend from the second half of the year due to the high spending discipline of North American oil and gas companies. In addition to this there were exchange losses in the fourth quarter negatively impacting the result. Overall, we look back on a profitable business year 2019.”
Note: All figures related to 2019 are preliminary and rounded.
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 customised components for the oilfield service industry to a selection of high-efficiency solutions and products for the oil and gas industry. As of 31 December 2019, SBO employed a workforce of 1,535 worldwide (31 December 2018: 1,642), thereof 393 in Ternitz / Austria and 788 in North America (including Mexico).
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
E-Mail: a.boecskoer@sbo.co.at
[1]See publication pursuant to Article 17 MAR of 10 December 2019
[2] 2018 figures restated (preliminary)
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