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 -

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

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