EANS-News: Schoeller-Bleckmann Oilfield Equipment AG: Positive results in the first quarter of 2021 confirm recovery

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Quarterly Report

Ternitz - 19 May 2021

* Improvement of all relevant KPIs in Q1 2021 in comparison to the preceding
quarter
* EBIT clearly positive at MEUR 3.6, profit after tax at MEUR 1.0
* High liquidity increased further to MEUR 326.1

Schoeller-Bleckmann Oilfield Equipment Aktiengesellschaft (SBO), listed on the
ATX leading index of the Vienna Stock Exchange, recorded a positive first
quarter of 2021. The upward trend compared to the previous quarter was evident
across all regional markets and in all key figures. As a result, the gradual
recovery of the global economy is also reflected in the company's key
performance indicators. SBO's sales for the first three months of the year were
MEUR 59.3, EBIT was clearly positive at MEUR 3.6, and profit after tax arrived
at MEUR 1.0. Net liquidity increased to MEUR 21.8, and gearing improved further
to minus 7.1 %. The book-to-bill ratio, which is a ratio of bookings to sales
and an indicator of medium-term development, was now slightly above 1 again for
the first time.

"We started 2021 on a positive momentum, as we achieved an increase in bookings
both in the North American markets and internationally. Provided there is no new
unexpected slump of the global economy, the current slight growth should even
accelerate in the second half of the year", says Gerald Grohmann, CEO of SBO.

Solid result after pandemic-year

As the impact of the COVID-19 pandemic started to play out only at the end of
the first quarter of 2020, any year-on-year comparison is of limited
significance. The crisis bottomed out in the third quarter of 2020, since then a
moderate recovery has set in, which has led to a positive result in the first
quarter of 2021.

In the first three months of 2021, bookings at SBO were MEUR 60.0 (1-3/2020:
MEUR 101.2). Sales arrived at MEUR 59.3 (1-3/2020: MEUR 108.9). The order
backlog stood at MEUR 63.8 at the end of March (31 December 2020: MEUR 65.2).
Earnings before interest, taxes, depreciation, and amortization (EBITDA) went
from MEUR 23.4 in the first quarter of 2020 to MEUR 11.6 in 2021, while the
EBITDA margin came to 19.5 % (1-3/2020: 21.5 %). Profit from operations (EBIT)
arrived at MEUR 3.6 (1-3/2020: MEUR 12.1).

SBO's profit before tax was MEUR 2.4 (1-3/2020: MEUR 11.6), profit after tax
stood at MEUR 1.0 (1-3/2020: MEUR 8.6). Earnings per share in the first quarter
of 2021 amounted to EUR 0.06 (1-3/2020: EUR 0.54). "Every crisis has its own
characteristics and is subject to a variety of influences. In 2020, the industry
experienced the deepest downturn since World War II. It is one of our strengths
to react very promptly to different circumstances, and we are already pro-
actively taking measures to meet the forthcoming upswing", comments CEO Gerald
Grohmann.

High liquidity increases further

SBO's equity was rising to MEUR 306.9 during the first quarter of 2021 (31
December 2020: MEUR 287.0), while the company's equity ratio increased to 38.1 %
(31 December 2020: 36.9 %). Net liquidity again improved from year-end 2020 to
MEUR 21.8 (31 December 2020: MEUR 9.5). Gearing went down further to minus 7.1 %
(31 December 2020: minus 3.3 %). Liquid funds stood at MEUR 326.1 (31 December
2020: MEUR 314.0). Cashflow from operating activities in the first quarter of
2021 arrived at MEUR 5.2 (1-3/2020: MEUR 14.3). Capital expenditure for
property, plant and equipment (CAPEX) stood at MEUR 4.3 (1-3/2020: MEUR 6.3).

Economic upswing with an impact on the oil and gas market

The International Monetary Fund (IMF) expects the global economy to grow by 6.0
% in 2021, following a decline of 3.3 % in 2020. The positive prognosis rests
primarily on the continuation of the COVID-19 vaccination programs. The expected
economic recovery is also reflected in global energy demand. Significant catch-
up demand should set in on the oil and gas markets, which should begin in the
second half of the year 2021 at the latest.

"The rise in oil prices is setting the direction for our industry. Although
climate policy goals have great importance, the supply of the world's population
with the fossil fuels oil and gas must be secured. We are aware of this
responsibility and are actively meeting these challenges," says CEO Gerald
Grohmann and adds: "Taking advantage of opportunities in a dynamic environment
is our strength. This is our daily practice and what we are comfortable with."

The restrictive capital spending measures observed before and during the COVID-
19 pandemic could even produce a significant catch-up effect, which should once
again accelerate demand for SBO products. With its high-quality products and
their constant development, the SBO Group ensures that the supply of energy is
more efficient and thus more environmentally friendly. Furthermore, as part of
its sustainable growth strategy, SBO aim at increasingly offer its technologies
to various industrial sectors.

SBO's key performance indicators at a glance

______________________________________________________________________________
|                  |                   |           1-3/2021|           1-3/2020|
|__________________|___________________|___________________|___________________|
|Sales             |               MEUR|               59.3|              108.9|
|__________________|___________________|___________________|___________________|
|Earnings before   |                   |                   |                   |
|interest, taxes,  |                   |                   |                   |
|depreciation and  |               MEUR|               11.6|               23.4|
|amortization      |                   |                   |                   |
|(EBITDA)          |                   |                   |                   |
|__________________|___________________|___________________|___________________|
|EBITDA margin     |                  %|               19.5|               21.5|
|__________________|___________________|___________________|___________________|
|Profit from       |                   |                   |                   |
|operations (EBIT) |               MEUR|                3.6|               12.1|
|__________________|___________________|___________________|___________________|
|EBIT margin       |                  %|                6.0|               11.1|
|__________________|___________________|___________________|___________________|
|Profit before tax |               MEUR|                2.4|               11.6|
|__________________|___________________|___________________|___________________|
|Profit after tax  |               MEUR|                1.0|                8.6|
|__________________|___________________|___________________|___________________|
|Earnings per share|                EUR|               0.06|               0.54|
|__________________|___________________|___________________|___________________|
|Cashflow from     |                   |                   |                   |
|operating         |               MEUR|                5.2|               14.3|
|activities        |                   |                   |                   |
|__________________|___________________|___________________|___________________|
|Liquid funds as of|                   |                   |                   |
|31 March 2021 /   |               MEUR|              326.1|              314.0|
|31 December 2020  |                   |                   |                   |
|__________________|___________________|___________________|___________________|
|Headcount as of 31|                   |                   |                   |
|March 2021 /      |                   |              1,155|              1,131|
|31 December 2020  |                   |                   |                   |
|__________________|___________________|___________________|___________________|

Schoeller-Bleckmann Oilfield Equipment AG (SBO) is the global market leader in
the production of high-precision components made of non-magnetic, high-alloy
stainless steels manufactured to customer specifications. The Group is equally
recognized worldwide for its high-efficiency drilling tools and equipment for
the oil and gas industry. With its patented materials and processes, including
the innovative Direct Metal Laser Sintering (DMLS) 3D printing technology, SBO
is expanding its leading position in the oil and gas industry alongside other
sectors.

SBO is listed on the Vienna Stock Exchange and included in the leading ATX
index. The Group employs a workforce of more than 1,100 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].

Further inquiry note:
Andreas Böcskör, Corporate Communications
Schoeller-Bleckmann Oilfield Equipment AG
Tel: +43 2630 315 DW 252
E-Mail: [email protected]

Ildiko Füredi-Kolarik
Metrum Communications GmbH
Tel: +43 1 504 69 87 DW 351
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: WBI, ATX
stockmarkets: Wien
language: English

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

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