EANS-News: Schoeller-Bleckmann Oilfield Equipment AG / Half year results 2021: SBO back on growth track

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Mid Year Financial Report

Ternitz - August 19, 2021

* Continuous increase in sales and earnings for the last three quarters
* Operating result strongly improved to MEUR 8.9, EBITDA margin of 19.3 %
considerably above last year's level
* Profit after tax clearly positive again at MEUR 4.2

The first half of 2021 was positive for Schoeller-Bleckmann Oilfield Equipment
Aktiengesellschaft (SBO), which is listed on the ATX leading index of the Vienna
Stock Exchange. As expected, the recovery that had begun in the fourth quarter
of 2020 continued gradually but steadily. The upward movement was evident across
all regional markets and in all key figures. SBO's sales in the first six months
of the year arrived at MEUR 129.5. EBIT was clearly positive at MEUR 8.9, the
EBIT margin improved to 6.9 %, up from the previous year's figure. Profit after
tax stood at MEUR 4.2. Net liquidity came to MEUR 20.1, gearing was minus 6.6 %.
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 says: "The global economy gradually rebounded in the first
half of 2021. As a result, demand for energy increased hand in hand with demand
for our products. While we have not yet reached pre-crisis levels, we are
observing steady growth. We are heading in the right direction, and our
operating result has returned to the profit zone. Our current expectation is
that this positive development will continue at a similar pace in the second
half of the year and gain further momentum in the coming year."

Steady growth, distinct improvement of business results
SBO's bookings in the first six months of 2021 amounted to MEUR 137.2, almost
matching the level of first half 2020, whose first quarter had been still
largely unaffected by the COVID-19 pandemic (1-6/2020: MEUR 144.5). Sales have
gone up constantly since the low point of the crisis in the third quarter of
2020, rising from MEUR 51.9 in Q3 2020 to MEUR 54.7 in Q4 2020 and MEUR 59.3 in
Q1 2021 to finally MEUR 70.2 in Q2 2021. Sales generated in the first half of
2021 totaled MEUR 129.5 (1-6/2020: MEUR 184.5). The order backlog at the end of
June 2021 was MEUR 68.4 (31 December 2020: MEUR 65.2).

Earnings before interest, taxes, depreciation and amortization (EBITDA) for the
first half of 2021 stood at MEUR 25.0 (1-6/2020: MEUR 28.5), while the EBITDA
margin went up to 19.3 % (1-6/2020: 15.4 %). Profit from operations (EBIT)
improved significantly compared to the previous year and arrived at MEUR 8.9 (1-
6/2020: MEUR minus 8.9). Profit before tax climbed to MEUR 6.6 (1-6/2020: MEUR
minus 10.0), while profit after tax improved to MEUR 4.2 (1-6/2020: MEUR minus
12.0). Earnings per share in the first half of 2021 were EUR 0.27 (1-6/2020: EUR
minus 0.76).

"Our expectations of last fall have been confirmed: we have seen an upward trend
since the fourth quarter of 2020 and expect the trend to continue. We have grown
every quarter and delivered a stronger result and higher margins although sales
figure was down on the previous year. This demonstrates the success of our
consistently implemented cost and efficiency programs", comments CEO Gerald
Grohmann on the 2021 half-year results.

SBO's equity increased to MEUR 305.5 in the first half of 2021 (31 December
2020: MEUR 287.0). SBO's equity ratio rose to 38.8 % (31 December 2020: 36.9 %).
Net liquidity went up to MEUR 20.1 (31 December 2020: MEUR 9.5). Gearing further
decreased to minus 6.6 % (31 December 2020: minus 3.3 %). Liquid funds came to
MEUR 307.5 (31 December 2020: MEUR 314.0). Cashflow from operating activities
was MEUR 12.0 in the first half of 2021 (1-6/2020: MEUR 50.6). Capital
expenditure for property, plant and equipment, and intangible assets (CAPEX,
excluding rights of use) amounted to MEUR 9.7 (1-6/2020: MEUR 10.6).

Outlook remains positive, stronger upward movement expected in 2022
The global recovery that has set in in the first half of 2021 appears to be
stable from an economic perspective. The International Monetary Fund (IMF)
expects the global economy to grow by 6.0 % in 2021, following a decline of 3.2
% in 2020.

"We expect the gradual growth of the global economy and the associated demand
for our products to continue throughout the rest of the year," says CEO Gerald
Grohmann and adds: "As announced, 2021 is evolving into a year of transition,
while 2022 should see increasing momentum."

With its high-quality products and technologies, the SBO Group ensures a more
efficient and thus more environmentally friendly supply of energy. While oil and
gas will remain the most important energy sources for a long time to come, the
company is responding to the change in environmental conditions by applying its
sustainable growth strategy. In the process, SBO is driving forward
diversification into new industries and fields of application to broaden its
technology offering to additional industrial sectors. Furthermore, SBO strives
toward structural improvement of its energy efficiency and reduction of its
carbon emissions.

SBO's key performance indicators at a glance

______________________________________________________________________________
|                  |                   |           1-6/2021|           1-6/2020|
|__________________|___________________|___________________|___________________|
|Sales             |               MEUR|              129.5|              184.5|
|__________________|___________________|___________________|___________________|
|Earnings before   |                   |                   |                   |
|interest, taxes,  |                   |                   |                   |
|depreciation and  |               MEUR|               25.0|               28.5|
|amortization      |                   |                   |                   |
|(EBITDA)          |                   |                   |                   |
|__________________|___________________|___________________|___________________|
|EBITDA margin     |                  %|               19.3|               15.4|
|__________________|___________________|___________________|___________________|
|Profit from       |                   |                   |                   |
|operations before |                   |                   |                   |
|impairments and   |               MEUR|                8.9|               12.4|
|restructuring     |                   |                   |                   |
|measures          |                   |                   |                   |
|__________________|___________________|___________________|___________________|
|EBIT margin before|                   |                   |                   |
|impairments and   |                   |                   |                   |
|restructuring     |                  %|                6.9|                6.7|
|measures          |                   |                   |                   |
|__________________|___________________|___________________|___________________|
|Profit / loss from|                   |                   |                   |
|operations after  |                   |                   |                   |
|impairments and   |               MEUR|                8.9|               -8.9|
|restructuring     |                   |                   |                   |
|measures          |                   |                   |                   |
|__________________|___________________|___________________|___________________|
|EBIT margin       |                  %|                6.9|               -4.8|
|__________________|___________________|___________________|___________________|
|Profit / loss     |                   |                   |                   |
|before tax        |               MEUR|                6.6|              -10.0|
|__________________|___________________|___________________|___________________|
|Profit / loss     |                   |                   |                   |
|after tax         |               MEUR|                4.2|              -12.0|
|__________________|___________________|___________________|___________________|
|Earnings per share|                EUR|               0.27|              -0.76|
|__________________|___________________|___________________|___________________|
|Cashflow from     |                   |                   |                   |
|operating         |               MEUR|               12.0|               50.6|
|activities        |                   |                   |                   |
|__________________|___________________|___________________|___________________|
|Liquid funds as at|                   |                   |                   |
|30 June 2021 / 31 |               MEUR|              307.5|              314.0|
|December 2020     |                   |                   |                   |
|__________________|___________________|___________________|___________________|
|Net liquidity as  |                   |                   |                   |
|at 30 June 2021 / |               MEUR|               20.1|                9.5|
|31 December 2020  |                   |                   |                   |
|__________________|___________________|___________________|___________________|
|Headcount as at 30|                   |                   |                   |
|June 2021 / 31    |                   |              1,172|              1,131|
|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 1,100 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.

Further inquiry note:
Andreas Böcskör, Group Communications
Schoeller-Bleckmann Oilfield Equipment AG
Tel: +43 2630 315 DW 252, Fax: DW 101
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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