Tous Actualités
Suivre
Abonner Schoeller-Bleckmann Oilfield Equipment AG

Schoeller-Bleckmann Oilfield Equipment AG

EANS-Adhoc: Schoeller-Bleckmann Oilfield Equipment AG
Schoeller-Bleckmann Oilfield Equipment AG announces Q1 results: Steep increase in bookings - Sales and profit still characterized by low order backlog at year-end 2009

  ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
  distribution. The issuer is solely responsible for the content of this
  announcement.
3-month report
19.05.2010
Ternitz/Vienna, 19 May 2010. Schoeller-Bleckmann Oilfield Equipment 
AG (SBO), listed on the ATX market of the Vienna Stock Exchange, 
posted a steep increase in bookings in the amount of MEUR 83.9 in the
first quarter of 2010. Sales generated in the first quarter of MEUR 
53.6 were still below the year-on-year level of 2009 (MEUR 80.8), 
when high order backlogs from boom year 2008 could be worked off. 
Moreover, the first months of 2010 were characterized by the low 
level of bookings and order backlog in 2009. At MEUR 4.9, earnings 
before profit and tax (EBIT) were slightly above the EBIT of the 
fourth quarter of 2009 (MEUR 4.6), but below the level of the very 
strong quarter of the year before (MEUR 15.6). Profit after tax in 
the first quarter arrived at MEUR 2.5 (following MEUR 9.7 in the 
first quarter of 2009 and MEUR 1.7 in the fourth quarter of 2009).
The current bookings situation marks a steep increase both compared 
to the first quarter of 2009 - when no bookings were posted as orders
were cancelled - and the fourth quarter of 2009 (MEUR 36.6). The 
order backlog at the end of the first quarter stood at MEUR 104.9, 
following MEUR 76 as at 31 December 2009, and includes orders that 
will be delivered throughout full 2010.
"Full-year order scheduling, the slowly setting in economic recovery 
and increase in demand for oil have led to the high level of bookings
in the first quarter. However, the market recovery will be reflected 
in our key figures only with a delay. Customer inventories and 
overcapacities existing in the market are still characteristic of our
business", describes Gerald Grohmann, CEO of Schoeller-Bleckmann 
Oilfield Equipment AG, the situation that does not permit any price 
increases at the moment.
Outlook
If economic recovery is sustained and the oilfield service industry 
continues to slowly move upwards, it is safe to assume that global 
drilling activities will increase further. As a result, demand for 
high-precision components for the oilfield service industry should 
also gain further momentum in the months ahead. In any case, the 
cyclical downturn of the previous year seems to have been overcome.
Year-on-year, aggregate sales and profit will lag behind the level of
2009 for some time, as the first quarter of 2009 was still 
characterized by the record bookings of 2008.
The fundamental prerequisites of a mid to long-term upward cycle 
remain intact. Declining production rates of existing oil fields and 
the increasing complexity in oil and gas exploration and production 
will continue to stimulate demand for high-tech products in the 
oilfield service industry. Due to its high market share in the 
segment, SBO will profit strongly from this development in the coming
years.
Comparison of key figures in MEUR
Q1 2010 Q4 2009 Q1 2009
Sales              53.6    62.9    80.8
EBIT               4.9     4.6     15.6
EBIT margin (%)    9.1     7.4     19.3
Profit before tax  3.7     4.0     13.9
Profit after tax   2.5     1.7     9.7
EPS in EUR *       0.15    0.11    0.61
Headcount **       1098    1056    1224
*  based on average number of shares outstanding ** reporting date Q1
2010: 31 March 2010; Q4 2009: 31 December 2009; Q1 2009: 31 March 
2009
end of ad-hoc-announcement ==========================================
====================================== 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 has employed a workforce of 1098 as at 31 March 2010 
(31 March 2009: 1224), thereof 317 in Ternitz/Austria and 478 in 
North America (including Mexico).
end of announcement                               euro adhoc

Further inquiry note:

Gernot Bauer, Head of Investor Relations
Schoeller-Bleckmann Oilfield Equipment AG
A-2630 Ternitz, Hauptstraße 2
Tel: +43 2630/315 ext 250, fax ext 501
e-mail: g.bauer@sbo.co.at

Mick Stempel
Metrum Communications GmbH
Tel: +43 1 504 69 87 ext 385
e-mail: m.stempel@metrum.at

Branche: Oil & Gas - Upstream activities
ISIN: AT0000946652
WKN: 907391
Index: WBI, ATX Prime, ATX
Börsen: Wien / official market

Plus de actualités: Schoeller-Bleckmann Oilfield Equipment AG
Plus de actualités: Schoeller-Bleckmann Oilfield Equipment AG