euro adhoc: Schoeller-Bleckmann Oilfield Equipment AG / Financial Figures/Balance Sheet / Schoeller-Bleckmann Oilfield Equipment AG: New production plant to be built at Ternitz - absolute record sales

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15.03.2007

Schoeller-Bleckmann Oilfield Equipment AG: New production plant to be
built at Ternitz - absolute record sales and profit results in 2006 -
Positive outlook for 2007

Ternitz/Vienna, 15 March 2007. Schoeller-Bleckmann Oilfield Equipment
AG (SBO), listed on the prime market of the Vienna Stock Exchange,
confirms at its Annual Press Conference the preliminary figures
announced in January for fiscal 2006. Accordingly, group sales
amounted to MEUR 239.5, an increase of 39 % against MEUR 172.7
year-on-year. Profit before tax in 2006 almost doubled to MEUR 46.8
(following MEUR 24.3). Net income rose by 99 %, from MEUR 17.3 in
2005 to MEUR 34.4 in 2006. As a result of this absolute record
result, SBO will suggest to the Annual Meeting to increase the
dividend to 80 eurocents per share for fiscal 2006 (50 eurocents per
share in 2005).

Moreover, Schoeller-Bleckmann announces that a new production plant
will be built at the Ternitz site. SBO was able to conclude
multi-year customer contracts for the plant and, with it, change
customer-supplier relations from the former quarter-to-quarter
ordering system to a long-term, easier-to-plan and secured base,
which is an absolute novelty in the industry.

First-ever long-term supplier contracts for the oilfield service
industry

"The booming demand in the oilfield service market has prompted us to
develop a strategy tailored to the current conditions so as to even
further expand our capacities. At the core of this strategy is the
construction of an additional, completely new production plant at
Ternitz", comments CEO Gerald Grohmann on this most recent strategic
decision.

At the same time, SBO was able to negotiate agreements with key
customers to ensure long-term capacity utilisation for this
greenfield investment. "Such long-term customer contracts are an
absolute novelty in our industry", says Mr. Grohmann. "With this, we
would be perfectly prepared to respond to a potential slowdown, even
though currently no downturn seems to be in the offing."

The construction of the new plant will bring total capex spending in
Ternitz for 2006 and 2007 to around MEUR 60. By the end of 2007 until
early 2008, the headcount at Ternitz will rise to some 380 people,
which is almost double the figure of three years ago. Those figures
reflect the most important milestone in the course of growth SBO has
taken in recent years. This step offers a number of advantages over
acquisitions: SBO can expand capacities at book value. "In view of
the currently high evaluation of the entire oilfield service
industry, this is a tremendous financial benefit", says Mr. Grohmann.
The grass-roots plant will meet latest state-of-the-art requirements.
Moreover, our customers will gain added value from these new
capacities, which is not the case in acquisitions. What’s more,
on-premises synergies in Ternitz can be used optimally without
integration risks. Construction of the plant at Ternitz will create a
large number of new high-qualification jobs. Construction works are
scheduled to commence in 2007 and production should go on-stream in
the spring of 2008.

"Despite of the now initiated large-scale capex spending programme,
SBO, with a net debt of MEUR 15.7 and an equity ratio of 60%, still
may chose to consider acquisitions if favourable opportunities arise
and they fit strategically.

New rotary forging machine at Ternitz on-stream

In an effort to work off the continued high order backlog and secure
its further course of growth, SBO as early as 2005 launched an
extensive, group-wide strategic capex spending programme and pressed
ahead with it in fiscal 2006. Under the programme, expenditures with
an aggregate volume of MEUR 58 were approved in 2006.

At the Ternitz facility, test runs were started on the new rotary
forging machine a few days ago. The new state-of-the-art forge will
not only considerably increase the output of MWD/LWD high-precision
products; also, it will markedly reduce noise emissions at the site.
In addition, some of the machine tools for high-precision components
(MWD/LWD) acquired under the capacity expansion programme were put on
stream in 2006.

Apart from Ternitz, major capex programmes in the amount of around
MEUR 30 were also approved and implemented at the US sites and in
Mexico.

In line with company growth, the total group headcount was
continuously upsized. By the end of 2006, the SBO group employed a
workforce of 1,086 (following 913 as at the end of 2005, up 19 %).

Strong demand for oil used for dynamic growth

In 2006, SBO made full use of the continued strong demand for
hydrocarbons for further company growth. According to preliminary
estimates of IEA (International Energy Agency) the global oil
consumption as at the end of 2006 rose to 84,5 million barrels a day
(following 83.6 million bbl/d the year before). IEA says that, as in
the year before, the most significant rise in demand was observed in
China (up 5.6 %). This development was reflected also in the "rig
count" (number of drilling rigs operating globally), the leading
indicator of global drilling activities. It grew from 2,993 units at
the end of 2005 to 3,125 units at the end of 2006. In the past 15
years, the global rig count rose by around 71 %. Growing depletion
rates and lower discovery rates also had their impact on the higher
rig count.

The fact that drilling activities were stepped up is also mirrored in
the continued high order backlog auf SBO. As at 31 December 2006, the
order backlog reached its all-time high of MEUR 241, increasing 80 %
against MEUR 134 the year before. Bookings went up 30 % from MEUR 269
in 2005 to a new record MEUR 349 in fiscal 2006, with order
visibility reaching well into 2008.

All SBO branches of business benefited from this highly satisfying
demand for high-tech high-precision components. Due to a number of
new and innovative products, the drilling motor business also
developed extremely well.

According to the now final figures, consolidated sales were MEUR
239.5, 39 % up against MEUR 172.7 generated the year before. Profit
before tax in 2006 almost doubled to MEUR 46.8 (following MEUR 24.3).
Net income increased by 99 %, from MEUR 17.3 in 2005 to MEUR 34.4 in
2006.

In light of the above, the Executive Board will propose to the Annual
Meeting to pay a dividend of 50 eurocents plus a bonus of 30
eurocents per share, in total 80 eurocents (following 50 eurocents
for 2005). For the shareholders of SBO, this is a record aggregate
payout of MEUR 12.8 (following MEUR 8 for fiscal 2005).

Excellent performance of the SBO share

As in the years before, the share of Schoeller-Bleckmann Oilfield
Equipment AG (SBO) again demonstrated an excellent performance in the
year 2006. The annual high of the Schoeller-Bleckmann share was
reached in December 2006, standing at EUR 35.2. The intraday all time
high of the share was slightly higher, EUR 35.5. The closing price of
the SBO share for the 2006 trading year was EUR 34.76, bringing the
annual performance to approx. 41 % (closing rate in 2005: EUR 24.7).
As a result, the price increase since SBO’s listing in Vienna (first
listed price on 27 March 2003: EUR 9.08) added up to 283 %.

Outlook into the first quarter and fiscal 2007

If the global economic development remains stable, no end of the
upward cycle in the oilfield service industry appears to be in sight.
Market observers and industry analysts alike forecast sustained
demand for oil and gas on a high level and, consequently, no changes
in the strong industry cycle. This assessment is in accord with the
longer-term perspective of the order placement policy pursued by
SBO’s customers. In any event, the record order backlog of MEUR 241
as at the end of 2006 (following MEUR 134) is the foundation for
sustained positive business development in fiscal 2007.

"The challenges in the months ahead will be both the speedy
implementation of the capacity expansion programme, further upgrading
and optimising production capacities and raw material planning and
procurement, and the commencement of the greenfield investment at
Ternitz", says Gerald Grohmann. In addition, new personnel will be
recruited to work off the high order backlog as planned. The capital
invested in fiscal 2006 will further increase production capacities
in 2007.

Although there is some uncertainty as to how the euro/dollar exchange
rate will develop, SBO is confident that both the excellent track
record of the company and the consistent course of growth will be
continued.

Key financial figures:

2006 2005
Sales 239.5 172.7
EBIT 48.2 25.5
EBIT margin (%) 20.1 14.7
Profit before tax 46.8 24.3
Net income 34.4 17.3
Cash-flow from operating activities 24.8 10.6
Capital expenditure 28.8 22.9
Earnings per share 2.15 1.13
Dividend per share 0.80* 0.50
Headcount 1,086 913

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 1.086 worldwide (31
December 2005: 913), 297 at Ternitz/Austria and 558 in North America
(including Mexico).

Financial calendar 2007

19 April 2007 Annual General Meeting
3 May 2007 Ex-dividend date and dividend payment date
23 May 2007 Result 1st quarter 2007
23 August 2007 Result 2nd quarter 2007
21 November 2007 Result 3rd quarter 2007

end of announcement euro adhoc 15.03.2007 07:50:00
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ots Originaltext: Schoeller-Bleckmann Oilfield Equipment AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:
Gerald Grohmann, Chief Executive Officer,
Schoeller-Bleckmann Oilfield Equipment AG,
A-2630 Ternitz, Hauptstraße 2,
Tel: +43 2630/315 DW 110, fax: ext 101,
E-mail: sboe@sbo.co.at

Mick Stempel, Hochegger|Financials,
Tel: +43 1/504 69 87 ext 85,
E-mail: m.stempel@hochegger.com

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