EANS-News: Schoeller-Bleckmann Oilfield Equipment AG / Sound development during the first nine months of 2014 - stable results with high profitability - growing bookings - increased earnings per share

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9-month report

Ternitz/Vienna, 19 November 2014. The business of Schoeller-Bleckmann
Oilfield Equipment AG (SBO) showed a sound development for the third
quarter of 2014, continuing the positive trend of the first two
quarters. Increasing bookings has led to results for the first nine
months of 2014 exceeding last year's figures.

SBO's revenues during the first nine months rose by 2.3%, to MEUR
356.6 (1-9/2013: MEUR 348.5). EBITDA (earnings before interest,
taxes, depreciation and amortization) increased by 2.1% to MEUR 102.9
(1-9/2013: MEUR 100.8), EBIT (earnings before interest and taxes) in
2014 was MEUR 72.0, or 9.5% up from the previous year (1-9/2013: MEUR
65.8 after non-recurring items). Profit before tax were at MEUR 64.5
(1-9/2013: MEUR 60.8), a 6.1% plus in a year-on-year comparison,
while profit after tax rose by 11.4% to MEUR 46.8 (1-9/2013: MEUR
42.0). Earnings per share were EUR 2.93 (1-9/2013: EUR 2.60) after
the first nine months.

Margins also had a positive development in the year-on-year
comparison: While the EBITDA margin remained at last year's level of
28.9%, the EBIT margin improved slightly to 20.2% (1-9/2013: 18.9%
after non-recurring items), and the pre-tax margin also showed a
moderate plus at 18.1% (1-9/2013: 17.5%). In the first nine months of
2014, SBO managed to increase its bookings by 11.7% to MEUR 369.4
(1-9/2013: MEUR 330.8). Total order backlog as of 30 September 2014
was MEUR 123.6 (30 Sept. 2013: MEUR 127.8), with a significant
portion thereof reaching into the year 2015.

SBO Chairman of the Board, Gerald Grohmann, points out: "As already
expected at the beginning of the year, our development in the first
nine months of 2014 has been absolutely sound with increased bookings
and high profitability. However, the environment of the oilfield
service industry has become more volatile in the last few months. So
far, declining oil prices have no impact on drilling activities. Yet,
the market lacks confidence with a future development difficult to
foresee, a fact which has our full attention."

SBO's investments in plant, property and equipment amounted to MEUR
31.3 (1-9/2013: MEUR 46.4) during the first nine months of 2014, with
a focus on the further expansion of our drilling motor fleet in the
U.S. and Canada, and the DSI circulation tools fleet.

SBO plans to raise profitability in England by exploiting potential
cost synergies between its two subsidiaries "Techman Engineering
Ltd." and the close-by "Darron Tool & Engineering Ltd." Furthermore,
fixed costs can be cut by optimizing processes and eliminating
duplication of work. An improved cost structure should allow for an
expansion of business in the future. SBO expects relevant costs for
the required measures in the amount of up to MEUR 5.0, which will be
reflected in the 2014 annual income.

Outlook

The global market is currently well supplied with oil. The weakened
macro-economic development and slackening demand have prompted the
International Energy Agency (IEA) to slightly revise down its oil
consumption forecast for 2014, from 92.6 mb/d to 92.4 mb/d.

The environment of the oilfield service industry has become
significantly more volatile during the past few months. The political
instability in Ukraine and the Middle East, weakening global economic
growth paired with significantly lower oil prices due to slackening
demand on the one hand, as well as sufficient supplies on the other,
might affect the business environment of the oilfield service
industry. Regardless of any short-term market developments, SBO is in
the position to quickly adjust to any change due to its high degree
of flexibility.

Also in the fourth quarter of 2014, the Oilfield Equipment segment
should develop in line with global drilling activities which are on a
stable level in all world regions. Due to the ongoing expansion of
the drilling motor fleet and the high market acceptance for DSI
circulation tools, SBO is in an excellent position to benefit from
this trend. The further business development in the High-Precision
Components segment will primarily reflect future CAPEX outlays of
global players in the oilfield services sector.

The long-term trend for more technology required to cope with growing
oil and gas consumption benefits SBO und remains unchanged despite
current market volatility.

Comparison of Key Performance Indicators

1-9/2014 1-9/2013 Change
Revenue in MEUR 356.6 348.5 +2.3%
EBITDA in MEUR 102.9 100.8 +2.1%
EBITDA margin in% 28.9 28.9 -
EBIT in MEUR 72.0 65.8 *) +9.5%
EBIT margin in% 20.2 18.9 *) -
Profit before tax in MEUR 64.5 60.8 +6.1%
Profit after tax in MEUR 46.8 42.0 +11.4%
EPS**) in EUR 2.93 2.60 +12.8%
Number of employees***) 1,663 1,565 +6.3%

*) after non-recurring items
**) based on the average number of shares in the market
***) as of September 30.

Schoeller-Bleckmann Oilfield Equipment AG is the global market leader
in high-precision components and a leading provider of oilfield
equipment for the oilfield service industry. The business focus is on
non-magnetic drill string components, high-performance drilling
motors and circulation tools for directional and horizontal drilling.
As of 30 Sept. 2014, SBO employed a staff of 1,663 (31 Dec. 2013:
1,574), 449 thereof in Ternitz / Austria and 658 in northern America
and 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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company: 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