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Schoeller-Bleckmann Oilfield Equipment AG

euro adhoc: Schoeller-Bleckmann Oilfield Equipment AG
Financial Figures/Balance Sheet
Schoeller-Bleckmann Oilfield Equipment AG expects to post record business year 2008: At the moment no slowdown of business cycle - But effects of financial ...

  Disclosure announcement transmitted by euro adhoc. The issuer is responsible
  for the content of this announcement.
quaterly report
20.11.2008
Ternitz, 20 November 2008. Schoeller-Bleckmann Oilfield Equipment AG 
(SBO), listed on the ATX market of the Vienna Stock Exchange, 
continued the positive business development of the first half-year 
throughout the third quarter of 2008. Group sales generated in the 
first nine months of 2008 went from MEUR 233.6 to MEUR 281.3, up 20.4
% over the same period of 2007. The sales increase was due in 
particular to the expansion of production capacities at the Ternitz 
site and the continuous growth at SBO locations in America.
The nine-month EBIT rose by 16.8 % to MEUR 64.2 (last year: MEUR 
55.0). The EBIT margin again climbed to an excellent value of 22.8 % 
(first nine months of 2007: 23.5 %). Profit before tax stood at MEUR 
60.3, increasing by 14.4 % year-on-year (first nine months of 2007: 
MEUR 52.7). Compared with the same period of last year, profit after 
tax was improved by 12.6 % to MEUR 42.4. Earnings per share rose to 
EUR 2.66, up 12.9 % year-on-year.
Bookings also developed favourably in the third quarter of 2008, 
standing at MEUR 109.8 against MEUR 103.9 in the previous year. The 
aggregate volume of bookings in the past three quarters amounted to 
MEUR 285.4, up 7.2 % over last year´s MEUR 266.3.
The positive order situation concerned mainly the business segments 
of high-precision components and drilling motors.
The dynamic investment programme was continued throughout the third 
quarter with capital expenditures in Ternitz, America and for the 
drilling motor fleet.
Outlook The economic slowdown that emerged already in mid-2008 was 
considerably accelerated by the international financial crisis 
setting in from the third quarter onwards. Its effects on the real 
economy, both in terms of intensity and duration of the crisis, 
cannot be assessed properly at the moment. This is why no 
substantiated forecast can presently be made on the development of 
the market and demand situation.
"From today´s perspective, repercussions of the crisis on the 
oilfield service industry should arise only in North America and some
overseas exploration areas. In any event, Schoeller-Bleckmann 
Oilfield Equipment AG is perfectly prepared to meet all scenarios. We
are in a position to respond to changes in our environment with 
utmost flexibility and, if necessary, adjust production capacities at
once", says CEO Grohmann.
Schoeller-Bleckmann Oilfield Equipment AG at any rate expects to post
a record business year 2008 because of the positive order situation. 
The mid- and long-term prospects for the oilfield service industry 
stay attractive under all scenarios, except for a global recession, 
as oil and gas will remain the major sources of energy in the long 
run. Even temporary cuts on drilling activities would bring about an 
even stronger catch-up effect. Uncertainties continue to arise from 
the USD/EUR currency exchange rate and short-term planning of 
customers at the turn of the year and the general economic slowdown.
Comparison of key figures in MEUR
1-9/2008           1-9/2007     Change
Sales                     281.3              233.6       20.4 %
EBIT                       64.2               55.0       16.8 %
EBIT margin (%)            22.8               23.5
Profit before tax          60.3               52.7       14.4 %
Profit after tax           42.4               37.7       12.6 %
EPS in EUR *                2.66               2.35      12.9 %
Headcount **            1.323              1.215          9   %
*       based on average number of shares outstanding
**      Reporting date 30 September
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 1.323 (30
June 2008: 1.276), thereof 405 in Ternitz/Austria and 650 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

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