EANS-Adhoc: Schoeller-Bleckmann Oilfield Equipment AG / Schoeller-Bleckmann Oilfield Equipment AG publishes half-year results

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6-month report

19.08.2009

Recession leads to steep decline in exploration and production
activities - Cost-cutting programme on track - Long-term growth
perspectives for SBO remain intact

Ternitz, 19 August 2009. Schoeller-Bleckmann Oilfield Equipment AG
(SBO), listed on the ATX market of the Vienna Stock Exchange, could
not escape the highly challenging market environment in the oilfield
service industry. Global recession led to lower demand for oil and
dwindling drilling activities, which made group sales of SBO in the
first half of 2009 fall by 25.8 % to MEUR 137.6 (following MEUR 185.5
year-on-year).

The half-year EBIT went from MEUR 41.9 in the first half of 2008 to
MEUR 20.3 (- 51.6 %). The half-year EBIT margin of approx. 14.7 %
(following 22.6 %) was rather satisfying in view of the overall
environment. Profit before tax arrived at MEUR 17.3 (following MEUR
39.1), declining by 55.7 %. Profit after tax in the first half stood
at MEUR 12.1 (following MEUR 27.5), decreasing by 55.9 % compared
with the same period last year. This brought half-year earnings per
share to EUR 0.76 (following EUR 1.73), down by 55.7 %.

"In response to the changing overall conditions, we implemented a
package of measures focusing on insourcing previously outsourced
manufacturing steps, systematic adjustment of capacities to demand by
reducing the headcount and negotiations with customers to minimize
the repercussions of the market pressure. This group-wide
cost-cutting programme aims at saving at least MEUR 25 annually at
all levels from now on", explains Gerald Grohmann, CEO of
Schoeller-Bleckmann Oilfield Equipment AG.

SBO profited mainly in the first quarter from the high order backlog
from last year, which stood at MEUR 121.4 (following MEUR 214 at the
beginning of 2009) in mid-2009. For reasons of commercial prudence,
all orders were verified and deleted from the backlog if postponed
and/or associated with a risk of being cancelled. As a result,
accumulated bookings in the first half of 2009 went down to
approximately MEUR 37 (following MEUR 175.6 in the first half of 2008
and MEUR 101 in the second quarter of 2008, respectively).

The drilling motor segment developed satisfactorily in the first half
of 2009, mainly because "Spiro Star", a motor for which new
applications were found and market shares were gained, continued its
strong performance. The weak industry cycle in the first half of 2009
made itself felt also in the Service & Supply segment, where orders
were on the decline.

Outlook

SBO does not expect business to pick up yet in the second half of
2009. Owing to the persistently high inventories in the oilfield
service industry, SBO's customers will continue to exercise great
caution in placing orders. If required, SBO will respond to the
unpleasant market development by implementing further capacity
adjustments and cost-cutting measures so as to mitigate negative
repercussions on the earnings situation.

"Long-term growth perspectives for SBO remain intact. With
exploration and production activities currently standing at a much
too low level, the search for new oil sources requiring more and more
complex technologies and production rates of existing oil fields
declining, demand for high-precision components for the oilfield
service industry is bound to pick up," underlines Gerald Grohmann.

The medium and long-term positive outlook for the business of
Schoeller- Bleckmann remains unchanged. SBO's continued high equity
ratio of 53.2 % at mid- 2009, low net debt of currently around MEUR
89.2 as well as sound liquidity and sufficient credit facilities
provide security for the company even beyond the next quarters.

Comparison of key figures in MEUR

| |1-6/2009 |1-6/2008 |Change |
|Sales |137.6 |185.5 |-25.8 % |
|EBIT |20.3 |41.9 |-51.6 % |
|EBIT margin (%) |14.7 |22.6 | |
|Profit before tax |17.3 |39.1 |-55.7 % |
|Profit after tax |12.1 |27.5 |-55.9 % |
|EPS in EUR * |0.76 |1.73 |-55.7 % |
|Headcount ** |1109 |1276 |-13.1% |

* based on average number of shares outstanding
** reporting date June 30.

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 employs a workforce of 1109, thereof 328 in
Ternitz/Austria and 501in 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 385

E-mail: m.stempel@hochegger.com

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