EANS-Adhoc: Schoeller-Bleckmann Oilfield Equipment AG / -Higher growth expectations for US-subsidiary Downhole lead to increased liability for option commitment -Sustained strong operating result again in Q3

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17.10.2017

Ternitz - Ternitz/Vienna, 17 October 2017. Downhole Technology, the latest
addition to the Well Completion business of Schoeller-Bleckmann Oilfield
Equipment AG (SBO) is exceeding the group's high expectations in terms of sales
and profit due to strong demand and a sound market environment.

This positive development which is also reflected in the business result of SBO
has an effect on the valuation of the put/call option for minority shareholders,
agreed upon in course of the acquisition of Downhole Technology. On 1 April
2016, SBO had acquired 68 % of the shares in Downhole Technology. In the wake of
the acquisition an option was concluded for the remaining 32 % of the shares in
the company with the minority shareholders. This option can be exercised not
earlier than 1 April 2019. Owing to the strong growth of Downhole Technology,
the price for acquiring the remaining shares at the earliest possible date for
exercising the option is now projected to be considerably higher. SBO's
accounting principles require in the third quarter of 2017 a non-cash-effective
expense posting of MEUR 90 in the financial result of the income statement of
SBO.

This will have no effect on the strong operating result of SBO: In the third
quarter of 2017 sales are expected to come to MEUR 92, more than doubling the
figure reported in the same period of last year (Q3/2016: MEUR 45.1), while
earnings before interest, taxes, depreciation, and amortisation (EBITDA) should
come to MEUR 26. The operating result (EBIT) of MEUR 13 will be in positive
territory for the second consecutive quarter. For the first time since the
crisis started the EBITDA margin will settle at 28 %, above its long-term
average (2001-2016: 24.1 %). Profit before tax will arrive at MEUR minus 78 in
the third quarter, considering the expense posting from the option. This
positive operating result will be the decisive factor for the dividend proposal
for the 2017 financial year. All amounts mentioned are preliminary figures. The
final results for the first three quarters of 2017 will be published on 23
November 2017 as planned.

Key performance indicators at a glance

_________________________________________________
|                 |    |Q1-Q3 / 2017 |Q1-Q3 / 2016|
|_________________|____|(preliminary)|____________|
|Sales____________|MEUR|228__________|133.1_______|
|Bookings_________|MEUR|241__________|116.5_______|
|EBITDA___________|MEUR|48___________|-7.2________|
|EBITDA_margin____|%___|21___________|-5.4________|
|EBIT_____________|MEUR|10___________|-50.9_______|
|EBIT_margin______|%___|4____________|-38.2_______|
|Profit_before_tax|MEUR|-86__________|-36.2_______|

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: [email protected]

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: [email protected]
WWW: http://www.sbo.at
ISIN: AT0000946652
indexes: ATX, WBI
stockmarkets: Wien
language: English

ORIGINAL APA-OTS TEXT - THE INFORMATION CONTAINED IN THIS PRESS RELEASE IS SUBJECT TO THE EXCLUSIVE RESPONSIBILITY OF THE ISSUER | EAE

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