EANS-Adhoc: Schoeller-Bleckmann Oilfield Equipment AG / Sound business development throughout first half of the year - Continuing upwards trend for bookings - Very low net debt due to record cashflow

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Financial Figures/Balance Sheet/6-month report
22.08.2013

Ternitz/Vienna, 22 August 2013. Schoeller-Bleckmann Oilfield
Equipment AG (SBO) recorded sound business development in the first
half of 2013. As expected, SBO could not continue on the first half
of 2012, when customers' overordering of high-precision components
had led to historically booming bookings. Following a restrained
start in 2013 the upwards trend in bookings solidified in the second
quarter of the year.

Half-year sales revenues in 2013 stood at MEUR 235.4, down 7.9 % from
the absolute record figure of MEUR 255.7 posted in the first half of
2012. EBITDA totalled MEUR 68.5 (following MEUR 77.5), declining by
11.6 % from the first half of 2012. The half-year EBITDA margin came
to 29.1 % (following 30.3 % in the first half of 2012). Profit before
tax (PBT) of the first half of 2013 were MEUR 40.8, down 24.2 % from
MEUR 53.8 year-on-year. This represented a PBT margin of 17.3 %,
following 21.0 % in 2012. Profit after tax decreased by 24.4 %, from
MEUR 37.2 (HY 2012) to MEUR 28.1 (HY 2013), bringing half-year
earnings per share to EUR 1.74 (following EUR 2.31 in the first half
of 2012).

"Our business has stabilised again. As expected, orders have picked
up again as our customers have been drawing down their inventories
continuously over recent months. In addition, our downhole tools
product group developed very positively in the first half of 2013,
posting increasing sales revenues. Business performance seen at our
Service & Supply Shops was also in line with last year", says Gerald
Grohmann, Chief Executive Officer of Schoeller-Bleckmann Oilfield
Equipment AG, commenting on business development in the first half of
the year.

Bookings in the first half of 2013 amounted to MEUR 201.8, which is
below the historic record figure of the first half of 2012 (MEUR
276.9), but above the second half of 2012. The order backlog at the
end of the first half of the year was MEUR 112.5, with some orders
reaching into 2014.

Net debt at mid-year 2013 fell by 72.7 % compared to the first half
of 2012 (from MEUR 68.1 to MEUR 18.6). One of the reasons was the
very strong cash-flow from operating activities in the first half of
2013 amounting to MEUR 67.6 (following MEUR 37.9 in the first half of
2012). SBO's gearing ratio at mid-2013 came to 5.1 % (following 9.5 %
at year-end 2012) and was kept at a very low level.

Outlook

The growing demand for oil and gas continues to be driven by the
emerging markets. At the moment, supply and demand in the
international oil market appear to remain in balance. Market analysts
expect to see spending for exploration and production increasing by
9.9 % in 2013 compared to 2012.

The above aspects should keep drilling activity at a continuously
strong level and involve further reductions of high-precision
component inventories at SBO's customers. With its current capital
investment programme at the Ternitz site and high degree of
flexibility in production SBO is perfectly prepared for another
upswing when it sets in. The company's very low net debt, high
cash-flow and consistently attractive operating margins constitute a
sound financial basis of further growth.

Comparison of key financial figures

1-6/2013 1-6/2012 Change
Sales in MEUR 235.4 255.7 - 7.9 %
EBITDA in MEUR 68.5 77.5 - 11.6 %
EBITDA margin in % 29.1 30.3 -
Profit before tax (PBT) in MEUR 40.8 53.8 - 24.2 %
PBT margin in % 17.3 21.0 -
Profit after tax in MEUR 28.1 37.2 - 24.4 %
EPS * in EUR 1.74 2.31 - 24.8 %
Headcount ** in numbers 1540 1575 - 2.2 %

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

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 1540 as at 30 June 2013
(31 December 2012: 1591), thereof 439 in Ternitz/Austria and 601 in
North America (including Mexico).

Further inquiry note:
MMag Florian Schütz, Head of Investor Relations
Schoeller-Bleckmann Oilfield Equipment AG
A-2630 Ternitz/Austria, Hauptstrasse 2
Tel.: +43 2630 315-251
Fax: +43 2630 315-501
E-Mail: f.schuetz@sbo.co.at

end of announcement euro adhoc
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issuer: Schoeller-Bleckmann Oilfield Equipment AG
Hauptstrasse 2
A-2630 Ternitz
phone: 02630/315110
FAX: 02630/315101
mail: sboe@sbo.co.at
WWW: http://www.sbo.at
sector: Oil & Gas - Upstream activities
ISIN: AT0000946652
indexes: WBI, ATX Prime, ATX
stockmarkets: official market: Wien
language: English