EANS-Adhoc: Schoeller-Bleckmann Oilfield Equipment AG: Significant profit improvement in 2011 - Dividend proposal EUR 1.20 following EUR 1.00 - Major investment programme adopted for Ternitz site

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08.03.2012

Ternitz/Vienna, 8 March 2012. Schoeller-Bleckmann Oilfield Equipment
AG (SBO), listed on the ATX market of the Vienna Stock Exchange, in
fiscal 2011 seamlessly followed on the sound upwards development of
the preceding financial year. Bookings, consolidated sales, EBITDA
and EBIT not only significantly exceeded last year's levels, but also
the relevant figures in the former record year 2008.

Growing by 28.4 % to MEUR 460.5 (following MEUR 358.6 in 2010)
bookings climbed to a new high in 2011. Consolidated sales generated
in 2011 went to MEUR 408.6, up 32.8 % (MEUR 307.7) from 2010.

Earnings before interest, taxes, depreciation and amortisation
(EBITDA) of MEUR 125.0 were 46.9 % above previous year's MEUR 85.1.
Earnings before interest and taxes (EBIT) arrived at MEUR 90.2,
increasing by 82.7 % from MEUR 49.4 in 2010. The 2011 EBITDA margin
grew from 27.6 % to 30.6 %, the EBIT margin from 16.0 % to 22.1 %.
Annual profit after tax arrived at MEUR 53.4, up 95.5 % from MEUR
27.3 in 2010.

Due to the strong result, the Executive Board will propose to the
forthcoming Annual General Meeting a dividend increase to EUR 1.20
(following EUR 1.00) per share for fiscal 2011. Based on the current
share price, this represents a dividend yield of approximately 1.8 %.

Market development 2011

Given the growing demand for oil and gas, the oilfield service
industry remained largely unaffected by the global economic slowdown
in 2011. Oil demand in the emerging markets more than offset the
declining demand in OECD countries. Additionally, oil companies
ramped up their spending for developing new oil and gas reservoirs in
2011. Also, the global rig count, the parameter of globally active
drilling rigs, grew by 12 % from December 2010 to December 2011.

Business performance 2011

Growing order volumes resulted in constantly increasing capacity
utilisation in the course of the year. Strong bookings were recorded
essentially in all segments of SBO. While the order backlog had been
MEUR 137.1 in mid-2011, it was climbing to MEUR 176.4 (up 34.8 % from
year-end 2010) at the end of the year, reaching far into the first
half of 2012. The rising order volume was accommodated in 2011 by
personnel upsizing, expanding shift operations, and additional
overtime.

In the segment of high-precision components, SBO benefited from its
global market leadership and growth in directional drilling.

As for high-performance drilling motors, SBO's subsidiary BICO
continued to expand market leadership through the new
high-performance drilling motor "Spiro Star Supreme". Moreover, very
strong demand for drilling motors was generally seen in North America
as a result of growing shale drilling activities.

Knust-SBO Far East in Singapore started operations in December 2011
as planned. Like SBO's subsidiary in Vietnam, which went operational
in 2010, the company will cover the growing local demand for SBO
products in the Far East.

Outlook 2012

According to forecasts of OPEC and the International Energy Agency
(IEA), oil demand from the emerging markets will result in further
growth of global oil consumption in 2012.

This is why Schoeller-Bleckmann Oilfield Equipment AG generally
expects to see a positive industry development also in 2012,
following the sound development in 2011.

Due to the low gas price in the United States SBO expects the rig
count to remain at a stable level there, if the decreasing number of
gas wells continues to be offset by growing oil drilling activity.
Internationally, notably the rising numbers of deepwater drilling
projects should have a positive effect on drilling activity, for
instance in the North Sea, Brazil or West Africa.

At the same time, however, SBO is also aware of the cyclical
uncertainties that might have repercussions on the oilfield service
industry above all in the emerging markets, if a sustained economic
slowdown should set in. However, Schoeller-Bleckmann Oilfield
Equipment AG currently does not consider this scenario as the most
likely one to occur. Low OPEC spare capacity and the robust oil
consumption expected for 2012 should have a continued positive effect
on oil drilling activity.

The long-term growth tendency for the oilfield service industry is
beyond any doubt, as was again evidenced by the favourable
development of the industry in 2011. While global demand for energy
is constantly growing, production rates of existing oilfields are
declining. Development of new oil and gas reservoirs requires
increasingly challenging technological efforts. This fact has been,
and will be, the driving force behind the growth of
Schoeller-Bleckmann Oilfield Equipment AG in the years ahead.

New major investment to be implemented at Ternitz site

Due to the positive market prospects SBO's executive board has
decided to implement a new large-scale investment programme for the
Ternitz site. The investment volume of approximately EUR 54 will be
spent on building a new machining centre for non-magnetic oilfield
service drillstring components. The investment is scheduled for
staged implementation over a period of about two years.

"The positive demand and market assessment of our customers prompts
us to take this investment decision. This programme is the
prerequisite of further growing our core business", says Gerald
Grohmann, CEO of SBO. The new production facility will also help to
unbundle the existing plants at the site in Ternitz, which no longer
meet the growing demands in terms of material flow and logistics. The
large-scale project will be financed primarily from the company's
cash-flow.

Key financial figures: 2011 2010 Change in %
Sales MEUR 408.6 307.7 + 32.8
Earnings before interest, taxes,
depreciation and amortisation (EBITDA) MEUR 125.0 85.1 + 46.9
EBITDA margin % 30.6 27.6 -
Earnings before interest and taxes (EBIT) MEUR 90.2 49.4 + 82.7
EBIT margin % 22.1 16.0 -
Profit before tax MEUR 78.2 42.9 + 82.5
Profit after tax MEUR 53.4 27.3 + 95.5
Cash-flow from profit MEUR 91.7 64.9 + 41.3
Earnings per share EUR 3.33 1.71 + 94.4
Dividend per share EUR 1.20* 1.00 + 20.0
Headcount Number 1,459 1,275 + 14.4

* proposed

end of ad-hoc-announcement ==========================================
====================================== 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 of
31 December 2011, SBO has employed a workforce of 1459 worldwide (31
December 2010: 1275), thereof 412 in Ternitz/Austria and 635 in North
America (including Mexico).

SBO financial calendar 2012
25 April 2012 - Annual General Meeting
9 May 2012 - Ex-dividend day, dividend payment date
23 May 2012 - Result Q1 / 2012
22 August 2012 - Result H1 / 2012
21 November 2012 - Result Q3 / 2012

Further inquiry note:
MMag Florian Schütz, Head of Investor Relations
Schoeller-Bleckmann Oilfield Equipment AG
A-2630 Ternitz/Austria, Hauptstrasse 2
Tel.: +43 2630 315-251
Fax: +43 2630 315-501
E-Mail: f.schuetz@sbo.co.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://www.sbo.at
sector: Oil & Gas - Upstream activities
ISIN: AT0000946652
indexes: WBI, ATX Prime, ATX
stockmarkets: official market: Wien
language: English