EQS-News: SBO with record sales and excellent preliminary results for 2023

EQS-News: Schoeller-Bleckmann Oilfield Equipment AG / Key word(s):
   Preliminary Results
   SBO with record sales and excellent preliminary results for 2023

   17.01.2024 / 08:00 CET/CEST
   The issuer is solely responsible for the content of this announcement.

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   SBO with record sales and excellent preliminary results for 2023

   Ternitz/Vienna, 17 January 2024. Schoeller-Bleckmann Oilfield Equipment AG
   (SBO), listed in the ATX leading index of the Vienna Stock Exchange,
   announces its preliminary results for the fiscal year 2023, demonstrating
   excellent financial performance both top and bottom line.

   SBO achieved an all-time high in sales totaling MEUR 585 for the year, an
   impressive 17% growth on top of already high sales in 2022 (MEUR
   501.2). Profit from operations  (EBIT) also outperformed last year’s
   results, increasing from MEUR 96.2 to MEUR 104 in 2023. Adjusted for
   foreign exchange gains and losses, EBIT grew by 22 % to MEUR 111 (adj.
   EBIT 2022: MEUR 90.9), leading to a remarkable adjusted EBIT margin of 19
   % for the full year (adj. EBIT margin 2022: 18.1 %). Profit before tax of
   MEUR 95 was also above last year (2022: MEUR 93.3) whereby the higher EBIT
   in 2023 was largely offset by one-off expenses in the financial result. 

   The improved operating results compared to 2022 were driven by an
   outstanding year of the Advanced Manufacturing & Service (AMS) division,
   thanks to thriving international markets and excellent operational
   execution. The Oilfield Equipment (OE) division recorded robust results
   despite a reduction of drilling and completion activities in the US market
   in 2023. The division showed a strong finish of the year with significant
   quarter-over-quarter growth and improved profitability in the fourth
   quarter.

   SBO finished the year with a strong balance sheet, complemented by a
   healthy cash balance of MEUR 162 (2022: MEUR 287.8). With these results,
   the Executive Board will propose a dividend payment of EUR 2.00 per share.

   CEO Klaus Mader, in reflecting on the year's success, concludes, "In 2023,
   once again, we demonstrated our operational strength. We achieved record
   sales, supported by the excellent performance of our AMS division
   resulting in high profitability. A high order backlog, the rebounding of
   the OE division in the fourth quarter and solid market fundamentals make
   us confident going into 2024. Thanks to our healthy balance sheet and
   our continuous cash flow generation we are well positioned to invest in
   future growth."

   Note: All figures relating to 2023 are preliminary and rounded. The
   results 2023 will be presented at a press conference on 20 March 2024. 

    
   About SBO

   SCHOELLER-BLECKMANN OILFIELD EQUIPMENT Aktiengesellschaft (SBO) is a
   globally operating group of companies and world market leader in the
   manufacture of high-alloy, non-magnetic steels. The SBO Group is engaged
   in high-precision production of special components for the oil, gas and
   other industries by applying innovative and additive manufacturing
   technologies. The SBO Group is equally recognized worldwide for its
   directional drilling tools and equipment for well completion in the oil,
   gas, and geothermal industry. With its subsidiaries and about 1,600
   employees worldwide, the Group is successfully positioned in
   technologically demanding, profitable niches. The Group is headquartered
   in Ternitz, Austria. Making an active contribution to energy transition is
   a key element of the Group's Strategy 2030. More detailed information on
   the Strategy 2030 and sustainable management (ESG) is available in the
   Annual Report 2022 at https://www.sbo.at/publikationen.  

   Contact:

   Monika Bell
   Head of Investor Relations
   Schoeller-Bleckmann Oilfield Equipment AG
   Tel: +43 2630 315-253
   E-Mail: [1][email protected]  

    

   Ildiko Füredi-Kolarik, Senior Advisor
   Tel: +43 1 504 69 87 DW 351
   E-Mail: [2][email protected] 

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   17.01.2024 CET/CEST This Corporate News was distributed by EQS Group AG.
   www.eqs.com

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   Language:    English
   Company:     Schoeller-Bleckmann Oilfield Equipment AG
                Hauptstrasse 2
                2630 Ternitz
                Austria
   Phone:       +43 (0)2630/315110
   Fax:         +43 (0)2630/315101
   E-mail:      [email protected]
   Internet:    http://www.sbo.at
   ISIN:        AT0000946652
   Indices:     ATX
   Listed:      Vienna Stock Exchange (Official Market)
   EQS News ID: 1816239


    
   End of News EQS News Service


   1816239  17.01.2024 CET/CEST

References

   Visible links
   1. mailto:[email protected]
   2. mailto:[email protected]

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