euro adhoc: Schoeller-Bleckmann Oilfield Equipment AG / Quarterly or Semiannual Financial Statements / Schoeller-Bleckmann Oilfield Equipment listed exclusively in Vienna as of July 1 (E)

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Schoeller-Bleckmann Oilfield Equipment listed exclusively in Vienna
as of July 1
Satisfying Q1 result

Ternitz - May 27, 2003. Vienna Stock Exchange-listed
Schoeller-Bleckmann Oilfield Equipment AG/Ternitz will delist from
Nasdaq Europe by the end of June 2003. Nasdaq Europe has accepted
SBO’s application to have SBO shares traded only in the prime market
of the Vienna Stock Exchange as of July 1, 2003.

"The final move to Vienna will focus the liquidity of the SBO share
on a single stock market. In addition, our exclusive listing in
Vienna will meet a request by Austrian institutional investors. Under
the new legal provisions for pension fund facilities, they will - as
a focus - have to include purely Austrian shares in their
portfolios", explains CEO Gerald Grohmann.

Despite of a difficult market environment SBO’s performance in Q1
2003 was better than expected only at the beginning of the year. The
result before taxes was EURO 4.6 mill. (following around 6.6 mill. in
Q1 2002 and roughly 5.3 mill. in Q4 2002). With an EBIT of EURO 5.1
mill., the EBIT margin was 12.9 %, thus slightly above the long-term
average of 12.1 %.

Group sales generated in the first quarter were EURO 39.3 mill.,
around 10 % less than what was achieved in Q4 2002. The decline in
sales was due both to the flat business in the industry and the sharp
rise of the Euro. Changed currency parities were set off only in part
by increased sales in Euros.

SBO continued to maintain its market position in the first quarter as
well. Thus, for instance, one of the globally leading oil service
companies awarded a two-year exclusive contract to SBO for supplying
drill string components to be used in Russia. However, overall Q1
bookings worth EURO 35.8 mill. (following 46.5 mill. in Q1 2002)
reflect the current uncertainties and the growth forecasts revised
downward for the major industrial regions.

For the next two quarters, SBO does not expect the market to gain any
substantial momentum. For SBO, business development is additionally
aggravated by the sustained weakness of the US-dollar against the
Euro. SBO will counter these adverse overall conditions with flexible
capacity control and cost-cutting measures. However, expanding and
securing SBO’s leadership in technology will be continued
consistently.

Comparison of key figures, in EURO 1000

Q1 2003 Q1 2002
Sales             39,306   49,673
EBIT              5,057    7,360
EBIT margin (%)   12.9     14.8
Profit before tax 4,614    6,581
Net income        2,514    3,936
Headcount         859      899

Schoeller-Bleckmann Oilfield Equipment AG is the global market leader
for high-precision components for the oilfield service industry. The
business focus is on non-magnetic drill string components for
directional drilling. Worldwide, the company employs a workforce of
859 (end of 2002: 852), currently 222 in the company headquarters at
Ternitz, Lower Austria, and 327 in Houston, Texas. The majority
shareholder of the company is Berndorf AG.

Further inquiry note:
Gerald Grohmann, Chief Executive Officer
Tel: +43 2630/315 DW 110, E-Mail: [email protected]
Mick Stempel, Hochegger|Financials
Tel.:+43 1/504 69 87 DW 85, E-Mail: [email protected]
Tel: 02630/315110
FAX: 02630/315101
Email: [email protected]

end of announcement euro adhoc 28.05.2003
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Emittent: Schoeller-Bleckmann Oilfield Equipment AG
Hauptstrasse 2
AT-2630 Ternitz
Tel: 02630/315110
FAX: 02630/315101
Email: [email protected]
WWW: info.sbo.at
ISIN: AT0000946652
WKN: 94665
Indizes: NECI, Prime.market
Börsen: official dealing Wiener Börse AG, Nasdaq Europe
Branche: Oil & Gas - Upstream activities
Sprache: Englisch

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