Schoeller-Bleckmann Oilfield Equipment AG

EANS-News: Schoeller-Bleckmann Oilfield Equipment AG
Preliminary result for 2016

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annual result/Preliminary result for 2016

Schoeller-Bleckmann Oilfield Equipment AG: Preliminary result for 2016
 
- Persistently challenging market environment weighs on result

- Fundamentally sound balance sheet structure and comprehensive
  countermeasures     
- Largest acquisition in the company's history completed
 

Ternitz/Vienna, 17 January 2017. The extremely challenging market environment
within the oilfield service industry is reflected also in the business results
of Schoeller-Bleckmann Oilfield Equipment AG (SBO), listed on the ATX market of
the Vienna Stock Exchange, for the 2016 financial year. Global spending of oil
companies for exploration and production went down by a total of 42 % for the
second year in a row.
 
Bookings fell by 17.0 %, to an expected MEUR 169 (2015: MEUR 203.6). Sales
contracted by 41.7 %, to MEUR 183 (2015: 313.7). Profit before tax arrived at
MEUR minus 47 (2015: MEUR minus 20.0). Liquid funds as at 31 December 2016 -
following the acquisition of Downhole Technology - came to MEUR 193 (31 December
2015: MEUR 196.3).
 
Note: All figures relating to 2016 are preliminary and rounded.
 
Gerald Grohmann, CEO of SBO: "In the challenging year 2016 we continued to
implement our countermeasures to combat the downturn. Additionally, we pursued
an important strategic positioning by taking over Downhole Technology, the
largest acquisition in our company's history. As before, SBO has a fundamentally
sound balance sheet structure and high liquidity, providing a perfect foundation
for the next upswing."
 
Schoeller-Bleckmann Oilfield Equipment AG is the global market leader in high-
precision components and a leading supplier of oilfield equipment for the
oilfield service industry. The business focus is on non-magnetic drillstring
components and high-tech downhole tools for drilling and completing directional
and horizontal wells. As of 31 December 2016, SBO employed a workforce of 1,200
worldwide (31 December 2015: 1,135), thereof 315 in Ternitz/Austria and 544 in
North America (including Mexico).

Further inquiry note:
Andreas Böcskör, Head of Investor Relations
Schoeller-Bleckmann Oilfield Equipment AG
A-2630 Ternitz, Hauptstraße 2
Tel: +43 2630/315 DW 252, Fax: DW 101
E-Mail: a.boecskoer@sbo.co.at

end of announcement                               euro adhoc 
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company:     Schoeller-Bleckmann Oilfield Equipment AG
             Hauptstrasse 2
             A-2630 Ternitz
phone:       02630/315110
FAX:         02630/315101
mail:     sboe@sbo.co.at
WWW:      http://www.sbo.at
sector:      Oil & Gas - Upstream activities
ISIN:        AT0000946652
indexes:     WBI, ATX Prime, ATX
stockmarkets: official market: Wien 
language:   English
 



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