Tous Actualités
Suivre
Abonner Schoeller-Bleckmann Oilfield Equipment AG

Schoeller-Bleckmann Oilfield Equipment AG

euro adhoc: Schoeller-Bleckmann Oilfield Equipment AG
quarterly or semiannual financial statement
Schoeller-Bleckmann Oilfield Equipment AG: Further improvement of company financials in Q1/2008 - Successful commissioning of new production ...

  Disclosure announcement transmitted by euro adhoc. The issuer is responsible
  for the content of this announcement.
3-month report
20.05.2008
ADHOC REPORT
Schoeller-Bleckmann Oilfield Equipment AG: Further improvement of 
company financials in Q1/2008 - Successful commissioning of new 
production facility at Ternitz site - Long-term demand for high-tech 
drilling technology sustained - Favourable business development 
expected for 2008
Ternitz, 20 May 2008. Schoeller-Bleckmann Oilfield Equipment AG 
(SBO), listed on the ATX segment of the Vienna Stock Exchange, 
continued its positive business development throughout the first 
quarter of 2008. Group sales grew by 25 % from MEUR 70.8 in the first
quarter of 2007 to MEUR 88.6 in the first quarter of 2008, EBIT rose 
from MEUR 15.9 to MEUR 20.2 (up 27 %). Accordingly, the EBIT margin 
was improved to 22.7% over the same quarter of last year (Q1/ 2007: 
22.5 %). Profit before tax at the end of the first quarter of 2008 
climbed to MEUR 18.9, following MEUR 15.8 (up 20 %) in the first 
quarter of 2007. Due to this excellent company development, profit 
after tax also went up to MEUR 13.3, following MEUR 11.5 in the 
previous year, increasing by 16 %. Consequently, earnings per share 
of EUR 0.83 also were up 16 % against last year´s EUR 0.72. The above
sales and net income figures were achieved despite of the decline in 
the USD/EUR exchange rate by around 14 % over the first quarter of 
2007.
Capacity expansions to reduce order backlog Bookings slightly slowed 
down towards the end of the first quarter, but despite of the weaker 
USD/EUR currency exchange rate went up as much as 11 % to MEUR 74.6 
against MEUR 67.4 in the first quarter of 2007. Due to the current 
capacity expansions at all sites, delivery times were cut and the 
order backlog could be reduced for the first time in many quarters. 
At the end of the first quarter of 2008 bookings stood at MEUR 212 
after MEUR 249 at the end of 2007 and MEUR 230 at the end of the 
first quarter of 2007. Despite of the continued tense situation in 
the skilled labour market, Schoeller-Bleckmann could hire additional 
employees, increasing the headcount to 1,249 as at 31 March 2008, 
following 1,222 at the end of 2007.
The strategic investment programme was strictly continued over the 
first quarter of 2008, as the new production facility in 
Ternitz/Austria was completed and commissioned as planned. In 
Houston/USA, development of land acquired last year was started.
Outlook - favourable business development 2008 Long-term demand for 
high-tech components for the oilfield service industry has remained 
unchanged, even if order intake at SBO has recently slowed down 
somewhat compared with the preceding quarters. Due to the production 
capacity expansion of Schoeller-Bleckmann and long-term delivery 
contracts for the new plant in Ternitz, long-ranging order 
dispositions of customers are not required any more to the extent 
seen in previous years. Business development may also be influenced 
by the USD/EUR exchange rate and global economic development. On the 
whole, however, business in 2008 is expected to develop favourably.
Comparison of key figures in MEUR
1-3/2008   1-3/2007    Change
Sales                88.6       70.8      25 %
EBIT                 20.2       15.9      27 %
EBIT margin(%)       22.7       22.5
Profit before tax    18.9       15.8      20 %
Profit after tax     13.3       11.5      16 %
EPS in EUR *         0.83       0.72      16 %
Headcount **        1,249      1,119      12 %
* based on average shares outstanding
** reporting date 31 March.
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. SBO employs
a workforce of 1,249 worldwide (31 December 2007: 1,222), 383 in Ternitz/Austria
and 614 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, 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, ATX
Börsen: Wiener Börse AG / official dealing

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