EANS-Adhoc: Schoeller-Bleckmann Oilfield Equipment AG: Solid result despite extremely difficult market environment- Further capacity adjustments planned - Very weak industry cycle expected in 2009

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19.05.2009

Ternitz/Vienna, 19 May 2009. Schoeller-Bleckmann Oilfield Equipment
AG (SBO), listed in the ATX segment of the Vienna Stock Exchange,
generated a solid result despite the extremely difficult market
environment in the first quarter of 2009, although the considerable
downturn of the industry cycle was already reflected in the company´s
key financial figures.

Quarterly sales went down around 9 % from MEUR 88.6 in the first
quarter of 2008 to MEUR 80.8. EBIT arrived at MEUR 15.6, decreasing
by 23 % over the same quarter of last year (31 March 2008: MEUR
20.2). As a result, the EBIT margin dropped to 19.3 % (31 March 2008:
22.7 %). Profit before tax of MEUR 13.9 was down 26 % compared with
the same quarter of last year (MEUR 18.9). In line with this
development, profit after tax also fell from MEUR 13.3 to MEUR 9.7
(down 27 %). Earnings per share dropped 27 % quarter-on-quarter from
EUR 0.83 to EUR 0.61 per share.

This decline was mainly due to the lower operating income, one-off
expenses for required capacity adjustments and the price pressure
resulting from the very weak market environment in the oilfield
service industry.

Cautious review of backlog - basic capacity utilisation secured In
line with the industry cycle, bookings of SBO were extremely low in
the first quarter of 2009. As further economic development remains
highly uncertain, many customers reduced their inventories and
hesitated to place orders. Negotiations on delivery postponements and
cancellation of existing orders were conducted. For reasons of
commercial prudence, the existing order backlog was verified for its
validity with particular caution. Orders currently under negotiation
with customers for postponement or cancellation were deleted from the
backlog for the time being. Due to the above precautions total
numbers of bookings and cancellations were roughly equal in the first
quarter.

The order backlog as at the end of the first quarter of 2009 was
approximately MEUR 146 (following MEUR 212 at the end of the first
quarter of 2008 and MEUR 214 at the end of 2008) and safeguards basic
capacity utilisation for the large part of 2009.

Outlook - continuation of very weak industry cycle expected for 2009
In the next months, no major change in the hesitant order behaviour
of SBO´s customers is expected due to the very weak industry cycle in
the oilfield service industry.

Therefore, further capacity adjustments at all sites cannot be ruled
out, which may result in additional personnel downsizing. Short time
working in Ternitz beginning with July was agreed with the workers
council, subject to the formal approval of the Austrian Social
Partners. In the past, SBO repeatedly demonstrated its ability to
master economically difficult times with utmost flexibility.
Moreover, financing of current business is very well secured.

As long-term prospects for the oilfield service industry and SBO
remain fully intact, SBO adheres to the strategic expansion projects
in Vietnam (MWD/LWD component manufacture) and in Brazil (Service &
Supply).

Comparison of key figures in MEUR

1-3/2009 1-3/2008 Change
Sales 80.8 88.6 - 9 %
EBIT 15.6 20.2 - 23 %
EBIT margin (%) 19.3 22.7
Profit before tax 13.9 18.9 - 26 %
Profit after tax 9.7 13.3 - 27 %
EPS in EUR * 0.61 0.83 - 27 %
Headcount ** 1224 1249 - 2 %

* based on average shares outstanding
** reporting date 31 March.

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. As at the end of March 2009, SBO employed a
workforce of 1224 worldwide after 1394 at the end of 2008, 379 in
Ternitz/Austria and 539 in North America (including Mexico).

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 DW 250, Fax: DW 501

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: Wien / official dealing