EANS-News: Schoeller-Bleckmann Oilfield Equipment AG: Sound growth in the first three quarters of 2021

Corporate news transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is responsible for the content of this announcement.

Quarterly Report

Ternitz – November 25, 2021

* Bookings increased to MEUR 237.1

* Sales of MEUR 208.3, EBIT climbed sharply to MEUR 16.1

Schoeller-Bleckmann Oilfield Equipment Aktiengesellschaft (SBO), which is listed on the ATX leading index of the Vienna Stock Exchange, recorded three positive quarters in 2021.The constant upward trend observed since the beginning of the year continued throughout the third quarter across all regional markets. Stimuli originated particularly from the international market, driven by the strong outlook for 2022. Bookings increased substantially in the first three quarters, arriving at MEUR 237.1. SBO’s sales in the first nine months of the year amounted to MEUR 208.3. EBIT climbed sharply to MEUR 16.1, and the EBIT margin improved to 7.7 %. Profit after tax rose steeply year-on-year to MEUR 8.9. Net liquidity stood at MEUR 8.7, gearing was minus 2.7 %. The book-to-bill ratio, which compares the number of orders received with sales and serves as an indicator of medium-term development, remained consistently above 1.

CEO Gerald Grohmann: „The business environment has improved distinctly in 2021. This went hand in hand with sound operational growth. The global economy continues to rebound, underpinning the current positive momentum in our industry. While we consistently adhere to our growth strategy, we are convinced that we can deploy our technologies profitably in different sectors moving forward.“

Strong operating performance and earnings growth
Bookings received by SBO in the first three quarters of 2021 amounted to MEUR 237.1, significantly above the level seen in the previous year (1-9/2020: MEUR 184.0). Sales increased from quarter to quarter over the year. Following MEUR 59.3 in the first quarter and MEUR 70.2 in the second quarter, the company generated MEUR 78.8 in the third quarter of 2021, bringing sales after nine months to MEUR 208.3, compared to MEUR 236.4 in the same period of 2020, when the first quarter of 2020 was still largely unaffected by the COVID-19 pandemic. The order backlog rose to MEUR 89.7 at the end of September 2021 (31 December 2020: MEUR 65.2).

Earnings before interest, taxes, depreciation, and amortization (EBITDA) arrived at MEUR 40.1 in 2021, following MEUR 27.2 in the first three quarters of 2020. The EBITDA margin went up to 19.2 % (1-9/2020: 11.5 %). Profit from operations (EBIT) improved considerably compared to the previous year and came to MEUR 16.1 (1-9/2020: MEUR minus 19.8). Profit before tax climbed to MEUR 12.7 (1-9/2020:
MEUR minus 21.8). Profit after tax was MEUR 8.9 (1-9/2020: MEUR minus 21.3). Earnings per share in the first three quarters of 2021 stood at EUR 0.57 (1-9/ 2020: EUR minus 1.35).

„After the challenging year 2020, we are experiencing positive momentum in 2021, which is also reflected in our performance from quarter to quarter“, comments CEO Gerald Grohmann on the first nine months of 2021.

In the first three quarters of 2021 SBO’s equity increased to MEUR 320.1 as of 30 September 2021 (31 December 2020: MEUR 287.0). SBO’s equity ratio went up to 40.7 % (31 December 2020: 36.9 %). Net liquidity decreased slightly to MEUR 8.7 (31 December 2020: MEUR 9.5). Similarly, gearing was reduced marginally to minus 2.7 % (31 December 2020: minus 3.3 %). Liquid funds stood at MEUR 296.1 (31 December 2020: MEUR 314.0). Cashflow from operating activities arrived at MEUR 20.8 in the first three quarters of 2021 (1-9/2020: MEUR 81.3). Capital expenditure in property, plant and equipment and intangible assets (CAPEX, excluding rights of use) amounted to MEUR 13.8 (1-9/2020: MEUR 13.9).

SBO is starting the year 2022 on positive prospects
Overall global economic growth of 4.9 % is projected for 2022. The positive projections take into account rising vaccination rates and assume that the associated ongoing immunization should contain the COVID-19 pandemic, although temporary regional restrictions cannot be ruled out. SBO is starting the year 2022 on positive prospects. Rising demand for energy combined with underspending in exploration and production in recent years should have a beneficial effect on SBO’s business. Uncertainties caused by current developments on the energy and raw materials markets and the associated increase in freight, material and energy prices might have an impact on growth expectations. Overall, growth, however, should be distinct for 2022, according to economic forecasts.

„Although global economic growth is affected by the consequences of the COVID-19 pandemic and delays in supply chains, we believe that sound economic growth lies ahead of us and therefore demand for oil and gas should rise. This view is also supported by our customers‘ assessments“, says SBO CEO Gerald Grohmann and adds:
„Secure energy supply is becoming even more crucial, especially in times of current shortages. Natural gas is increasingly recognized as a key bridge fuel for energy transition. With our products, we make a contribution to efficient energy production and we use the time to drive our diversification strategy forward.“

SBO’s key performance indicators at a glance

______________________________________________________________________________
| | | 1-9/2021| 1-9/2020|
|__________________|___________________|___________________|___________________|
|Sales | MEUR| 208.3| 236.4|
|__________________|___________________|___________________|___________________|
|Earnings before | | | |
|interest, taxes, | | | |
|depreciation and | MEUR| 40.1| 27.2|
|amortization | | | |
|(EBITDA) | | | |
|__________________|___________________|___________________|___________________|
|EBITDA margin | %| 19.2| 11.5|
|__________________|___________________|___________________|___________________|
|Profit from | | | |
|operations (EBIT) | | | |
|before | | | |
|impairments and | MEUR| 16.1| 1.1|
|restructuring | | | |
|measures | | | |
|__________________|___________________|___________________|___________________|
|EBIT margin before| | | |
|impairments and | | | |
|restructuring | %| 7.7| 0.5|
|measures | | | |
|__________________|___________________|___________________|___________________|
|Profit / loss from| | | |
|operations (EBIT) | MEUR| 16.1| -19.8|
|__________________|___________________|___________________|___________________|
|EBIT margin | %| 7.7| -8.4|
|__________________|___________________|___________________|___________________|
|Profit / loss | | | |
|before tax | MEUR| 12.7| -21.8|
|__________________|___________________|___________________|___________________|
|Profit / loss | | | |
|after tax | MEUR| 8.9| -21.3|
|__________________|___________________|___________________|___________________|
|Earnings per share| EUR| 0.57| -1.35|
|__________________|___________________|___________________|___________________|
|Cashflow from | | | |
|operating | MEUR| 20.8| 81.3|
|activities | | | |
|__________________|___________________|___________________|___________________|
|Liquid funds as of| | | |
|30 September 2021 | MEUR| 296.1| 314.0|
|/ 31 December 2020| | | |
|__________________|___________________|___________________|___________________|
|Net liquidity as | | | |
|of 30 September | | | |
|2021 / 31 December| MEUR| 8.7| 9.5|
|2020 | | | |
|__________________|___________________|___________________|___________________|
|Headcount as of 30| | | |
|September 2021 / | | 1,215| 1,131|
|31 December 2020 | | | |
|__________________|___________________|___________________|___________________|

SCHOELLER-BLECKMANN OILFIELD EQUIPMENT Aktiengesellschaft (SBO) is the global market leader in the production of high-precision components made of non-magnetic, high-alloy
stainless steels. The Group is equally recognized worldwide for its high-efficiency drilling tools and equipment for the oil and gas industry. The Group employs a workforce of more than 1,200 worldwide and is successfully positioned in technologically demanding, profitable niches. Information on the „Quality First“-based growth strategy and sustainable management (ESG) is available in the annual report at https://www.sbo.at/publikationen [https://www.sbo.at/ publikationen].

end of announcement euro adhoc

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

Digital press kit: http://www.ots.at/pressemappe/2917/aom

Andreas Böcskör, Group Communications
Schoeller-Bleckmann Oilfield Equipment AG
Tel: +43 2630 315 DW 252, Fax: DW 101
E-Mail: a.boecskoer@sbo.co.at

Ildiko Füredi-Kolarik
Metrum Communications GmbH
Tel: +43 1 504 69 87 DW 351
E-Mail: i.fueredi@metrum.at

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