Schoeller-Bleckmann Oilfield Equipment AG: Preliminary result for 2018
- SBO boosted by recovery in North America and international markets
- EBIT almost tripled to MEUR 70, sales up 30 % to MEUR 420
Ternitz/Vienna, 17 January 2019. Schoeller-Bleckmann Oilfield Equipment AG (SBO), listed on the ATX market of the Vienna Stock Exchange, posts a successful 2018 financial year. The company took advantage of the market situation and, alongside the strong activities in North America, benefited from the beginning upturn observed internationally. Demand for SBO's products and services resulted in full order books and a steep increase in sales and earnings.
According to preliminary figures for 2018, bookings received by SBO climbed 40 % to MEUR 480 (2017: MEUR 342.0). Sales rose by 30 % to MEUR 420 (2017: MEUR 324.2). The operating result (EBIT) increased sharply, almost tripling to MEUR 70 (2017: MEUR 25.6). Profit before tax arrived at MEUR 55 (2017: MEUR minus 69.8, including a non-cash-effective expense posting for option commitments in the amount of MEUR 87.6).
"We look back on a sound 2018 financial year. All in all, the unexpectedly sharp drop in the oil price and the slowdown in activities in the fourth quarter had only a relatively minor impact on SBO's performance," says Gerald Grohmann, CEO of SBO. "Looking at the full year, we saw recovery in almost all regions alongside the dynamic North American business. We have prepared the company for this environment at an early stage and could make optimal use of the market opportunities, build up our workforce and make specific investments to grow our company“.
Note: All figures related to 2018 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 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 1,642 worldwide (31 December 2017: 1,432), thereof 369 in Ternitz / Austria and 866 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
back
