EANS-News: Schoeller-Bleckmann Oilfield Equipment AG: Preliminary result for 2017

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Annual Result/Preliminary result for 2017

Ternitz/Vienna - Schoeller-Bleckmann Oilfield Equipment AG: Preliminary result
for 2017

- Strong growth in North America boosts SBO's sales and bookings
- Operating result returns to clearly positive territory
- Option revaluation in successful Well Completion business in the third quarter
of 2017 weighs on financial result

Ternitz/Vienna, 16 January 2018. The 2017 financial year of Schoeller-Bleckmann
Oilfield Equipment AG (SBO), listed on the ATX market of the Vienna Stock
Exchange, was characterised by the upswing seen in North America. The strategic
expansion of the Well Completion business the year before therefore turned out
to be the perfect choice to make. Against the continued weak market environment
internationally, SBO closed financial year 2017 on a clearly positive operating
result.

Sales went up by 76 %, to MEUR 322 (2016: 183.0). Bookings even doubled to MEUR
340 (2016: MEUR 169.3), up by 101 %. The operating result (EBIT) came to MEUR
25, following a historically negative result of MEUR minus 58.3 in 2016. Profit
before tax stood at MEUR minus 70. As already reported in October, rising profit
expectations for Downhole Technology, a subsidiary acquired in the second
quarter of 2016, required to include a one-off expense posting for the shares of
minority shareholders (option) having an effect on profit, but not on cash, in
the consolidated income statement of SBO in the third quarter of 2017. Excluding
option revaluations, profit before tax was MEUR 17, and the respective result of
the year before MEUR minus 62.3.

"Our expectations that North America would experience noticeable market recovery
were met fully. SBO's sales and operating result have developed nicely. Bookings
even doubled in a year on year comparison. As a result, SBO has achieved the
turnaround operationally and brought the result clearly back into positive
territory", comments Gerald Grohmann, CEO of SBO. "The negative result from the
option revaluation at Downhole Technology is only a short-term drawback, because
- as majority shareholder - we will benefit, at the same time, from the strong
profits generated by our subsidiary." Grohmann concludes:"Due to the positive
operating development of the company and the prevailing market environment we
will propose payment of a dividend of 50 cents per share for the year 2017."

Note: All figures relating to 2017 are preliminary and rounded.

SBO is a leading supplier of tools and equipment for directional drilling and
well completion applications and the global market leader in the manufacture of
high-precision components made of non-magnetic steel. The product offering
ranges from complex customer-specific components for the oilfield service
industry to high-efficiency solutions and products for the oil and gas industry.
As of 31 December 2017, SBO employed a workforce of 1,426 worldwide (31 December
2016: 1,200), thereof 309 in Ternitz / Austria and 757 in North America
(including Mexico).

Further inquiry note:
Andreas Böcskör, Head of Investor Relations
Schoeller-Bleckmann Oilfield Equipment AG
A-2630 Ternitz, Hauptstraße 2
Phone: +43 2630/315 ext 252, fax ext 101
e-mail: a.boecskoer@sbo.co.at

Ildiko Füredi-Kolarik
Metrum Communications GmbH
Phone: +43 1 504 69 87 ext 351
e-mail: i.fueredi@metrum.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
ISIN: AT0000946652
indexes: ATX, WBI
stockmarkets: Wien
language: English

Original-Content von: Schoeller-Bleckmann Oilfield Equipment AG, übermittelt durch news aktuell