EANS-News: Schoeller-Bleckmann Oilfield Equipment AG / Preliminary result for 2015

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annual result/preliminary result 2015

Schoeller-Bleckmann Oilfield Equipment AG: Preliminary result for
2015

- Massive slump of global drilling activity impacted results
- Positive EBIT before one-off effects
- Profoundly robust balance-sheet structure: Liquid funds grown
to nearly MEUR 200

Ternitz/Vienna, 19 January 2016. Schoeller-Bleckmann Oilfield
Equipment AG (SBO), listed on the ATX market of the Vienna Stock
Exchange, was confronted with the consequences of the profound
downturn in the oilfield service industry in the 2015 financial year.
On the back of the oil price slump the number of global drilling
operations fell by 44.9 % until the end of the year.

Despite numerous efforts to combat the decline, this downturn was
reflected in the operating result of SBO. Following record booking
figures in 2014, bookings contracted by 59.4 % and are expected to
stand at MEUR 202 (2014: MEUR 497.9), sales went down by 36.1 % to
MEUR 312 (2014: MEUR 488.6). In this extremely difficult environment
SBO generated a positive EBIT (earnings before interest and tax)
before one-off effects of an estimated MEUR 2. On the one hand the
one-off effects comprise impairments of goodwill and of fixed assets
as well as restructuring expenses totalling MEUR minus 26, leading to
an EBIT after impairments and restructuring charges of MEUR minus 24.
On the other hand financial income of MEUR 3 (pre-dominantly from a
release of option commitments) was generated. As a result, profit
before tax arrived at MEUR minus 21 (2014: MEUR: 80.0).

Gerald Grohmann, CEO of SBO: "We brace for another difficult business
year in 2016, but with our profoundly robust balance-sheet structure
the company is very well prepared to meet those challenges. We will
continue our active cost management in the company. At the same time,
we will systematically continue the search for attractive acquisition
targets which fit in well with our strategy and align SBO to ensure
we can make full use of the next upswing."

SBO significantly increased liquid funds by 31 December 2015 to close
to MEUR 200 (31 December 2014: MEUR 130.2).

Note: All figures are preliminary and rounded.

Schoeller-Bleckmann Oilfield Equipment AG is the global market leader
in high-precision components and a leading supplier of oilfield
equipment for the oilfield service industry. The business focus is on
non-magnetic drillstring components and high-tech downhole tools for
drilling and completing directional and horizontal wells. As of 31
December 2015, SBO employed a workforce of 1.135 worldwide (31
December 2014: 1.720), thereof 376 in Ternitz/Austria and 399 in
North America (including Mexico).

Further inquiry note:
MMag Florian Schütz, MBA
Head of Investor Relations SBO
Tel.: +43 2630 315-251
f.schuetz@sbo.co.at

end of announcement euro adhoc
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company: 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