EANS-Adhoc: Schoeller-Bleckmann Oilfield Equipment AG / Schoeller-Bleckmann Oilfield Equipment AG: Another absolute record business year 2008 - New sites in Vietnam and Brazil - E&P expenditure declin

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11.03.2009

Ternitz/Vienna, 11 March 2009. Schoeller-Bleckmann Oilfield Equipment
AG (SBO), listed on the ATX market of the Vienna Stock Exchange,
confirms at its annual press conference the preliminary figures for
the past record fiscal year 2008, as announced in January. Despite
increasingly difficult overall conditions in 2009, SBO will expand
its global presence by establishing new sites in Vietnam and Brazil.

Group sales in fiscal 2008 climbed to MEUR 388.7, surpassing last
year´s level of MEUR 317.4 by 22 %. Profit before tax rose by 14 %
from MEUR 72.5 (2007) to MEUR 82.5 at the end of fiscal 2008. Profit
after tax arrived at MEUR 58.8, increasing 18 % year-on-year (MEUR
50.0).

The Executive Board will propose to the forthcoming Annual
Shareholders´ Meeting a distribution of EUR 0.75 (following EUR 1.10)
per share, of which EUR 0.50 will go to the base dividend and EUR
0.25 to a bonus payment. Based on the actual share price the dividend
yield is approximately 3.8 %. This will take into account, on the one
hand, the excellent business development in 2008, but, on the other
hand, also keep in mind the considerably less favourable overall
economic conditions for the new business year 2009, in which a
cautious distribution policy appears to be essential.

Market development 2008

The strong demand for energy in the past years which went hand in
hand with a decline of production rates of existing oil fields
triggered - at least through mid-2008 - higher spending for
developing new reservoirs and improving recovery rates of existing
oil reserves. In the second half of 2008, the oil price was
significantly influenced by the repercussions of the global financial
crisis, initiating cut-backs on investment in exploration and
production (E&P) activities.

The total rig count (number of active drilling rigs worldwide), an
indicator of global drilling activities, climbed to an annual average
of 3336 units from 3116 units in 2007, with a decline in activities
starting to show already at the end of the year.

Successful year despite increasingly difficult market environment

Against this market environment, SBO further improved bookings in
fiscal 2008 to MEUR 367 (2007: MEUR 341). Orders were received in all
segments and regions alike. Schoeller-Bleckmann managed to handle the
large number of bookings in 2008 by ensuring efficient utilisation of
production facilities and deployment of human resources. Cash-flow
from profit was substantially improved from MEUR 71.0 in 2007 to MEUR
89.1. Expenditures for property, plant and equipment in 2008 were
MEUR 45.8 (2007: MEUR 66.0).

Outlook for 2009

Declining demand for crude oil and the sharp drop of the oil price
have made the majority of national and international oil companies
reconsider their short-term exploration and production expenditure
despite their excellent earnings situation in 2008. This will have
impacts on the oilfield service industry in 2009 which SBO cannot
disconnect from, either.As for the industry itself, 2009 will see
increasing competition and price pressure as well as decreasing
bookings. As global recession is expected to deepen over the year,
SBO will inevitably be hit by this negative development and the
resulting drop in sales and profit.

SBO responds to the current environment by implementing a
comprehensive package of measures comprising cost savings at all
sites, postponing capital expenditures and insourcing of services.
SBO will make every possible effort to adapt production capacities to
the market situation in 2009.

Long-term market assessments remain intact. Production rates of
existing oil fields are declining by an average of six to eight per
cent every year and, therefore, the gap between oil demand and
available supplies will widen even further. Although this problem
will be temporarily mitigated by the present reduction of demand for
energy, it will not be resolved as such. Cuts on spending for the
development of new oil and gas reservoirs will result in a need for
much higher investment at a later point in time.

In line with its long-term growth strategy, SBO will start to set up
a new manufacturing plant in Vietnam for producing standard LWD/MWD
tools for the Far East market. It is not planned to shift existing
productions to Vietnam. Furthermore, a new Service & Supply Shop will
be set up in Brazil in 2009. Exploration of new offshore oil fields
in Brazil is expected to stimulate demand in the years to come.

SBO has a sound financial structure, with its current equity ratio
standing at 51 % of the balance sheet total and its net debt at MEUR
74.2. Solid liquidity together with secured credit facilities gives
SBO sufficient leeway to proactively use market opportunities also in
economically challenging times.

Key financial figures:

2008 2007
Sales MEUR 388.7 317.4
EBIT MEUR 88.0 76.1
EBIT margin % 22.6 24.0
Profit before tax MEUR 82.5 72.5
Profit after tax MEUR 58.8 50.0
Cash-flow from profit MEUR 89.1 71.0
Capital expenditure MEUR 45.8 66.0
Earnings per share EUR 3.69 3.13
Dividend per share EUR 0.75* 1.10
Headcount Number 1394 1222

* proposed

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. SBO employs a workforce of 1394 worldwide (31
December 2007: 1222), 409 in Ternitz/Austria and in 638 in North
America (including Mexico).

Financial calendar 2009

30 April 2009 Annual Shareholders´ Meeting
14 May 2009 Ex-dividend day, dividend payment date
19 May 2009 Result 1st quarter 2009
19 August 2009 Result half-year 2009
19 November 2009 Result 3rd quarter 2009

end of announcement euro adhoc
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ots Originaltext: Schoeller-Bleckmann Oilfield Equipment AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Gernot Bauer, Head of Investor Relations,

Schoeller-Bleckmann Oilfield Equipment AG, A-2630 Ternitz, Hauptstraße 2,

Tel: +43 2630/315 ext 250, fax: ext 101, E-mail: g.bauer@sbo.co.at

Mick Stempel, Martin Keitel / Hochegger|Financials

Tel: +43 1/504 69 87 0

E-mail: m.stempel@hochegger.com / m.keitel@hochegger.com

Branche: Oil & Gas - Upstream activities
ISIN: AT0000946652
WKN: 907391
Index: WBI, ATX Prime, ATX
Börsen: Wiener Börse AG / official dealing