EQS-News: Schoeller-Bleckmann Oilfield Equipment AG: SBO posts highest 9-month sales and earnings figures in the past ten years

EQS-News: Schoeller-Bleckmann Oilfield Equipment AG / Key word(s): Quarter
Schoeller-Bleckmann Oilfield Equipment AG: SBO posts highest 9-month sales
and earnings figures in the past ten years

24.11.2022 / 08:00 CET/CEST
The issuer is solely responsible for the content of this announcement.


SBO posts highest 9-month sales and earnings figures in the past ten years

• Bookings at an all-time high of MEUR 431.1, sales increase to MEUR
• EBIT more than quadrupled to MEUR 72.6, profit after tax increased
six-fold to MEUR 55.3

Aktiengesellschaft (SBO), which is listed on the ATX leading index of the
Vienna Stock Exchange, recorded the best development in a decade in the
first nine months of 2022. Bookings arrived at their all-time high of
MEUR 431.1. SBO’s sales in the first nine months of the year climbed to
MEUR 361.3, up 73 % year-on-year. EBIT increased by 350 %, standing at
MEUR 72.6, and profit after tax grew six-fold to MEUR 55.3. Net liquidity
rose to MEUR 37.8 and gearing improved further to minus 8.5 %.

Gerald Grohmann, CEO of SBO: „High investment requirements in the
exploration and production of oil and gas support demand for our products
and services, which exceeded our expectations in the first three quarters
of 2022. We are growing in all regions and product areas and see the best
development in around a decade. Thus, we are heading for an extremely
strong year.“

Sales and earnings development at a 10-year high

Bookings at SBO picked up sharply in the first nine months of 2022,
arriving at a record level of MEUR 431.1 (1-9/2021: MEUR 237.1, up by 82
%). Sales soared to MEUR 361.3 (1-9/2021: MEUR 208.3, up by 73 %). The
order backlog at the end of September stood at MEUR 189.5 (31 December
2021: MEUR 111.7).

Earnings before interest, taxes, depreciation, and amortization (EBITDA)
increased to MEUR 96.8 in 2022, following MEUR 40.1 in the first three
quarters of 2021, and the EBITDA margin went up to 26.8 % (1-9/2021:
19.2 %). Profit from operations (EBIT) came to MEUR 72.6, more than
quadrupling year-on-year (1-9/2021: MEUR 16.1)

Profit before and after tax developed even better: SBO generated a pre-tax
result of MEUR 69.9 (1- 9/2021: MEUR 12.7, up by 450 %), whereas profit
after tax increased six-fold compared to the previous year to MEUR 55.3
(1-9/2021: MEUR 8.9, up by 523 %). Earnings per share also increased
clearly to EUR 3.52 in the first three quarters of 2022 (1-9/2021:
EUR 0.57). The strong US dollar compared to the euro had a supportive

„Energy security is a global concern and part of our strategy. As
policymakers and energy markets failed to take the required decisions in
the past, there is a strong need for action resulting in high demand for
oil and gas. This means that our growth engine is running at full speed,
and business is booming like it has not been for a long time. This is also
reflected in our sequential quarterly development, as we have achieved
continuous growth since summer 2020″, comments SBO’s CEO Gerald Grohmann

Both segments record strong growth

SBO’s business is divided into two segments, Advanced Manufacturing &
Services (AMS) and Oilfield Equipment (OE). While sales generated by the
AMS segment increased to MEUR 181.9 in the first nine months (1-9/2021:
MEUR 102.8), profit from operations (EBIT) quadrupled to MEUR 34.2
(1-9/2021: MEUR 8.5). Sales in the OE segment rose to MEUR 179.4
(1-9/2021: MEUR 105.5), and EBIT more than quintupled to MEUR 32.9
(1-9/2021: MEUR 6.3).

Balance sheet further improved

In the first three quarters of 2022, SBO’s equity increased significantly
to MEUR 446.5 (31 December 2021: MEUR 340.9). SBO’s equity ratio went up
to 47.4 % (31 December 2021: 42.3 %). Net liquidity was at high MEUR 37.8
(31 December 2021: MEUR 9.9). Gearing further improved to minus 8.5 % (31
December 2021: minus 2.9 %). Liquid funds also increased to MEUR 295.7 (31
December 2021: MEUR 291.8). Cashflow from operating activities arrived at
MEUR 24.1 in the first three quarters (1-9/2021: MEUR 20.8). Capital
expenditure in property, plant and equipment and intangible assets (CAPEX)
came to MEUR 21.4 (1-9/2020: MEUR 13.8)

Positive Outlook for 2023

Despite slowing global economic growth and fears of recession, energy
fundamentals remain strong. The growing need for energy security should
lead to a much-needed increase in spending. As a result, the industry is
looking to another year of growth in 2023. Increased investment in the
exploration and production of new oil and gas fields in regions outside
Russia, international efforts to ensure energy independence from Russia,
low OPEC reserve capacity, low oil inventories, rising demand and SBO’s
high order backlog, which currently stands at MEUR 189.5, confirm a
positive outlook for the year 2023.

„Despite concerns about the development of the global economy, the energy
markets are indicating a multi-year upswing. In the current year, we
managed to grow dynamically with the market and expect to see a
continuation in 2023. Our order books are full, and in some areas orders
extend into the third quarter of 2023. We expect spending in exploration
and production to increase further, giving us tailwind into the next
year“, says SBO’s CEO Gerald Grohmann.

SBO’s Key Performance Indicators at a glance

    1-9/2022 1-9/2021
Sales MEUR 361.3 208.3
Earnings before interest, taxes, depreciation and MEUR 96.8 40.1
amortization (EBITDA)
EBITDA margin % 26.8 19.2
Earnings before interest and taxes (EBIT) MEUR 72.6 16.1
EBIT margin % 20.1 7.7
Profit before tax MEUR 69.9 12.7
Profit after tax MEUR 55.3 8.9
Earnings per share EUR 3.52 0.57
Cashflow from operating activities MEUR 24.1 20.8
Liquid funds as of 30 September 2022 / MEUR 295.7 291.8
31 December 2021
Net liquidity as of 30 September 2022 / MEUR 37.8 9.9
31 December 2021
Headcount as of 30 September 2022 /   1,490 1,267
31 December 2021

global market leader in the manufacture of high-alloy, non-magnetic
stainless steels and high-precision manufacture of stainless steels into
special components for the oil, gas and other industries by applying
innovative traditional and additive technologies such as Direct Metal
Laser Sintering (DMLS), a 3D metal printing technology. The SBO Group is
equally recognized worldwide for its high-efficiency drilling tools and
equipment for the oil and gas industry. Strong intellectual property
protection offers significant competitive advantages. Product and process
innovations, including the Direct Metal Laser Sintering (DMLS) 3D printing
technology, support the leading position of SBO in the oil and gas
industry and other sectors. The Group employs a workforce of about 1,500
worldwide and is successfully positioned in technologically demanding,
profitable niches. Making an active contribution to energy transition is a
key element of the Group’s Strategy 2030. With its high-quality products
and technologies, the SBO Group already today provides for an increasingly
efficient and environmentally friendly supply of energy. While oil and gas
remain the most important energy sources, the company’s new strategy is a
response to changing environmental and climate targets. More detailed
information on the Strategy 2030 and sustainable management (ESG) is
available in the Annual Report 2021 at [1] https://www.sbo.at/publikationen


Andreas Böcskör, Group Communications

Schoeller-Bleckmann Oilfield Equipment AG

Tel: +43 2630 315 DW 252

E-Mail: [2]a.boecskoer@sbo.co.at


Ildiko Füredi-Kolarik

Metrum Communications GmbH

Tel: +43 1 504 69 87 DW 351

E-Mail: [3]i.fueredi@metrum.at


24.11.2022 CET/CEST This Corporate News was distributed by EQS Group AG.


Language: English
Company: Schoeller-Bleckmann Oilfield Equipment AG
Hauptstrasse 2
2630 Ternitz
Phone: +43 (0)2630/315110
Fax: +43 (0)2630/315101
E-mail: sboe@sbo.co.at
Internet: http://www.sbo.at
ISIN: AT0000946652
Indices: ATX
Listed: Vienna Stock Exchange (Official Market)
EQS News ID: 1494943

End of News EQS News Service

1494943  24.11.2022 CET/CEST


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2. a.boecskoer@sbo.co.at
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