22 January 2025
Ternitz/Vienna, 22 January 2025. Schoeller-Bleckmann Oilfield Equipment AG (SBO), listed in the leading ATX index of the Vienna Stock Exchange, today announced its preliminary results for the financial year 2024. Despite a challenging market environment, especially in the US, SBO's sales of MEUR 560 in 2024 were just slightly below the record level of the previous year (2023: MEUR 585.9). The Group's EBITDA amounted to MEUR 100 (2023: MEUR 131.3) and an EBITDA margin of 17.9%. EBIT of MEUR 69 (2023: MEUR 102.3) and an EBIT margin of 12.3% reflect the difficult market environment in the US and cautious investment behavior internationally, as well as one-off expenses in the Oilfield Equipment (OE) division in the first half of the year. Profit before tax amounted to MEUR 62 (2023: MEUR 94.2).
SBO's balance sheet remains very strong. Cash and cash equivalents almost doubled to MEUR 315 in 2024 (2023: MEUR 162.4), and net debt decreased substantially from MEUR 92.3 to MEUR 56.
Klaus Mader, CEO of SBO, says:
In the course of 2024, market activity developed slower than expected, especially in the U.S. We acted quickly and decisively with operational and organizational measures which led to a recovery in our OE division in the second half of the year and a further EBIT improvement in the fourth quarter. Our strong cash generation and the additional funds raised provide us with the necessary firepower for strategic investments.
Note: All figures for 2024 are provisional and rounded. The 2024 results will be presented at the annual results press conference on 20 March 2025.
