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 b

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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
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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

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