euro adhoc: Schoeller-Bleckmann Oilfield Equipment AG / Quarterly or Semiannual Financial Statements / Clear sales and profit increase in the first nine months of 2004 - result for full year 2003 already exceeded (E)

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Clear sales and profit increase in the first nine months of 2004 -result for full year 2003 already exceeded

Ternitz, November 30, 2004. Schoeller-Bleckmann Oilfield Equipment AG (SBO), listed on the prime market of the Vienna Stock Exchange, generated group sales of EUR 113.0 mill. in the first nine months of 2004 (following EUR 105.0 mill. last year). The nine-month EBIT was EUR 12.2 mill., 19.2 % above the figures achieved last year of EUR 10.3 mill. The EBIT margin was improved to 10.8 % against 9.8 % in the first nine months of 2003. Profit before tax was EUR 11.1 mill., 15.5 % above last year’s level of EUR 9.6 mill.

"The positive development of the global economy currently supports the expectations of the oil industry for a still growing demand for oil, which, in turn has triggered more investment in oilfield exploration activities", comments SBO’s CEO Gerald Grohmann on the current market environment. Bookings received by SBO in the first nine months of 2004 amounted to EUR 122.3 mill., 34.4 % above the same period of last year (EUR 91 mill.). The order backlog as of September 30, 2004 was EUR 39.3 mill., 31.3 % above last year’s level.

The above-average growth in sales of the third quarter of 2004 by 31.7 % to EUR 41.0 mill. (following EUR 31.1 mill. achieved in last year’s quarter) is the result of the very high level of bookings in the second quarter.

Net profit 2003 already exceeded

"Regarding profitability, we already outperformed the full year 2003 in the first nine months", says Mr Grohmann. This is all the more encouraging as this was achieved despite the 10.3 % fall of the dollar over the same period of 2003. Therefore, the improved result is based both on the higher level of bookings and the extensive structural optimisation measures recently implemented by SBO. Adjusted for the dollar decline, the group sales would have amounted to EUR 122 mill., 16.2 % above last year, the nine-month profit before tax to EUR 14.4 mill., even 50.5 % above last year’s figures.

In the coming months, the positive environment is expected to continue. Therefore, SBO believes that 2004 will end with a considerably improved result over 2003.

Comparison of key figures in MEUR

1-9/2004 1-9/2003 Sales 113.0 105.0 EBIT 12.2 10.3 EBIT margin (%) 10.8 9.8 Profit before tax 11.1 9.6 Consolidated group result 7.3 5.4 EPS* 0.56 0.42 Headcount ** 820 809

* based on average shares outstanding
**Reporting date September 30

Schoeller-Bleckmann Oilfield Equipment AG is the global leader for high-precision components for the oilfield service industry. The business focus is on non-magnetic drillstring components for directional drilling. Worldwide, SBO employs a workforce of 820 (September 30, 2003: 809), currently 207 in the company headquarters at Ternitz, Lower Austria, and 417 in North America. The majority shareholder of the company is Berndorf AG.

Further inquiry note:
Gerald Grohmann, Chief Executive Officer,
Schoeller-Bleckmann Oilfield Equipment AG,
A-2630 Ternitz, Hauptstraße 2,
Tel: +43 2630/315 ext. 110, fax: ext. 101,

Mick Stempel, Hochegger|Financials,
Tel.:+43 1/504 69 87 ext. 85,

end of announcement euro adhoc

emitter: Schoeller-Bleckmann Oilfield Equipment AG
Hauptstrasse 2
A-2630 Ternitz
phone: 02630/315110
FAX: 02630/315101
ISIN: AT0000946652
sector: Oil & Gas - Upstream activities
language: English