EANS-Adhoc: Schoeller-Bleckmann Oilfield Equipment AG / Schoeller-Bleckmann Oilfield Equipment AG publishes Q3 results

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19.11.2009

Unchanged market environment - Bookings situation starting to stabilize - Order
backlog of MEUR 103.3 as basis for next months

Ternitz, 19 November 2009. Business development of Schoeller-Bleckmann Oilfield
Equipment AG (SBO), listed on the ATX market of the Vienna Stock Exchange, was
characterized in the first nine months of 2009 by declining demand for oil as a
consequence of global recession. For this reason, exploration and production
activities of oil companies continued to be low, resulting in sustained weak
demand for equipment for the oilfield service industry.

Consequently, group sales of SBO in the first nine months amounted to MEUR 188.7
(following MEUR 281.3 in the first nine months of last year), declining by
approximately 33 %. EBIT of MEUR 23.6 in the first nine months was clearly
positive, but was considerably below the record year figure of MEUR 64.2
achieved last year. The EBIT margin of the first nine months arrived at 12.5 %
(following 22.8 % year-on-year). Profit before tax fell by 67.8 % to MEUR 19.4
(following MEUR 60.3). Profit after tax in the first three quarters stood at
MEUR 13.6 (following MEUR 42.4), down 68.0 % over the same period of last year.
This brought earnings per share in the first nine months to EUR 0.85 (following
EUR 2.66), decreasing by 67.9 %.

The weak market development kept bookings at a relatively modest level also in
the third quarter of 2009. Accumulated bookings of the first nine months of 2009
arrived at MEUR 74.5. However, following the strong decline in orders in the
first half of the year, the situation started to stabilize in the third quarter
of 2009. In contrast to early this year, customers no longer cancelled orders.
In the past weeks, SBO received an increasing number of delivery inquiries and
requests for quotations, which, however, have not turned into bookings yet. The
order backlog as at 30 September 2009 was MEUR 103.3 (following MEUR 224.7
year-on-year) and is the backbone of sufficient basic capacity utilisation of
SBO´s manufacturing plants in the months ahead.

"First signs of economic recovery, notably in the emerging markets, have not yet
changed the weak market development in the oilfield service industry. This will
come about only when the demand for oil rises considerably", comments Gerald
Grohmann, CEO of Schoeller-Bleckmann Oilfield Equipment AG, on the current
market situation. However, customers now are spending more money on developing
prototypes. Due to its strong technological expertise, SBO was assigned by one
of the leading oilfield service companies to manufacture prototypes of a new,
highly complex directional drilling tool.

Outlook

In the short run, no change of the current overall conditions can be expected
for the international oilfield service industry, even though first signs of
drilling activities stabilizing at a low level have been noticed.

In the next months, SBO will respond to the unfavourable market environment by
constantly implementing cost-cutting measures and, if required, further capacity
adjustments. Business and energy consumption forecasts recently revised upwards
and oil prices of around USD 70 a barrel indicate intensifying exploration and
production activities over the current level. The fundamental prerequisites for
the business of SBO to pick up again remain intact: The currently insufficient
number of exploration wells, declining production rates of existing oil fields
and development of new deposits requiring more and more complex technologies
will trigger increased demand for high-precision components for the oilfield
service industry, as soon as customers´ inventories have been used up. With
SBO´s low net debt and presently high equity ratio of 52 %, excellent liquidity
and uncontested market position, the company is well equipped to meet all
scenarios.

Comparison of key figures in MEUR

1-9/2009         1-9/2008        Change 
Sales                             188.7             281.3         -32.9 %
EBIT                               23.6              64.2         -63.3 %
EBIT margin (%)                    12.5              22.8           -
Profit before tax                  19.4              60.3         -67.8 %
Profit after tax                   13.6              42.4         -68.0 %
EPS in EUR *                       0.85              2.66         -67.9 %
Headcount**                       1,063             1,323         -19.7 %

* based on average number of shares outstanding
** reporting date September 30

end of ad-hoc-announcement
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Schoeller-Bleckmann Oilfield Equipment AG is the global market leader in
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 1,063, thereof 319 in Ternitz/Austria and 454 in
North America (including Mexico).

Further inquiry note:
Gernot Bauer, Head of Investor Relations
Schoeller-Bleckmann Oilfield Equipment AG
A-2630 Ternitz, Hauptstraße 2
Tel: +43 2630/315 DW 250, Fax: DW 501
E-Mail: g.bauer@sbo.co.at

Mick Stempel, Q-COM Financials
Tel: +43 1/504 69 87 DW 385
E-Mail: m.stempel@qcom.at
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: sboe@sbo.co.at
WWW: http://info.sbo.at
sector: Oil & Gas - Upstream activities
ISIN: AT0000946652
indexes: WBI, ATX Prime, ATX
stockmarkets: official dealing: Wien
language: English

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