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 goes up 53% in the first nine months of 2005 to EUR 16.9 mill - Bookings up 64% from last y

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17.11.2005

Ternitz, November 18, 2005. Schoeller-Bleckmann Oilfield Equipment AG (SBO), listed on the prime market ATX of the Vienna Stock Exchange, posted a 53% increase in profit before tax of EUR 16.9 mill in the first nine months of fiscal 2005 (following EUR 11.1 mill). In the period under review, sales climbed 10% to reach EUR 123.9 mill after EUR 113.0 mill in the same period of 2004. The net income generated in the first nine months of 2005 grew 65% to EUR 12.0 mill, following 7.3 mill year-on-year. Bookings received in the first nine months went up 64% to EUR 200.8 mill. The order backlog as of end of September 2005 increased by 190%, totalling a record EUR 114.2 mill (following EUR 39.3 mill).

The sustained high demand for oil at a price ranging from 56 to 70 US dollars per barrel continues to have a vigorously stimulating effect on the exploration activities of the international oil companies. "Demand for oilfield service equipment, in particular for hi-tech directional drilling, remains undiminished. In the third quarter, Schoeller-Bleckmann received orders already for 2007, which is also the background of the record order backlog", explained Gerald Grohmann, Chief Executive Officer of Schoeller-Bleckmann Oilfield Equipment AG. "This time horizon for orders is rather untypical of our industry and is an indication that our customers also expect a longer-term upward cycle for the oilfield service industry", continued Mr Grohmann. The strong demand was observed in all segments and production sites.

Capex substantially increased

Capital expenditure totalled EUR 13.4 mill (following EUR 7.1 mill in the first nine months of 2004), a clear increase against last year’s volume. It was used to build up the stock of drilling motors and to expand the machinery for manufacturing high-precision components at all sites.

Positive environment expected to continue

The overall market environment is expected to remain positive for the oilfield service industry in the next months. It will be our challenge within the coming months to cover the undiminished strong demand for high-precision components by adjusting our production capacities.

Comparison of key figures, in MEUR

                              1-9/2005          1-9/2004
Sales                         123.9                113.0
EBIT                            17.2                 12.2
EBIT margin (%)          13.9                 10.8
Profit before tax        16.9                 11.1
Net income                  12.0                  7.3
EPS*                              0.80                 0.56
Headcount **              875                  792

* based on average shares outstanding  **Reporting date Sept 30; headcount 1-9/2004 adjusted for the Bafco subsidiary divested in Q1 of 2005

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 875 (Sept 30, 2004: 792; adjusted for the Bafco subsidiary divested in Q1 of 2005), currently 221 at the company headquarters at Ternitz, Lower Austria, and 450 in North America (including Mexico).

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ots Originaltext: Schoeller-Bleckmann Oilfield Equipment AG
Im Internet recherchierbar: http://www.presseportal.de

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: DW 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



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