EANS-News: Schoeller-Bleckmann Oilfield Equipment AG / Preliminary result for 2016

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annual result/Preliminary result for 2016

Schoeller-Bleckmann Oilfield Equipment AG: Preliminary result for
2016

- Persistently challenging market environment weighs on result

- Fundamentally sound balance sheet structure and comprehensive
countermeasures
- Largest acquisition in the company's history completed

Ternitz/Vienna, 17 January 2017. The extremely challenging market
environment within the oilfield service industry is reflected also in
the business results of Schoeller-Bleckmann Oilfield Equipment AG
(SBO), listed on the ATX market of the Vienna Stock Exchange, for the
2016 financial year. Global spending of oil companies for exploration
and production went down by a total of 42 % for the second year in a
row.

Bookings fell by 17.0 %, to an expected MEUR 169 (2015: MEUR 203.6).
Sales contracted by 41.7 %, to MEUR 183 (2015: 313.7). Profit before
tax arrived at MEUR minus 47 (2015: MEUR minus 20.0). Liquid funds as
at 31 December 2016 - following the acquisition of Downhole
Technology - came to MEUR 193 (31 December 2015: MEUR 196.3).

Note: All figures relating to 2016 are preliminary and rounded.

Gerald Grohmann, CEO of SBO: "In the challenging year 2016 we
continued to implement our countermeasures to combat the downturn.
Additionally, we pursued an important strategic positioning by taking
over Downhole Technology, the largest acquisition in our company's
history. As before, SBO has a fundamentally sound balance sheet
structure and high liquidity, providing a perfect foundation for the
next upswing."

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 2016, SBO employed a workforce of 1,200 worldwide (31
December 2015: 1,135), thereof 315 in Ternitz/Austria and 544 in
North America (including Mexico).

Further inquiry note:
Andreas Böcskör, Head of Investor Relations
Schoeller-Bleckmann Oilfield Equipment AG
A-2630 Ternitz, Hauptstraße 2
Tel: +43 2630/315 DW 252, Fax: DW 101
E-Mail: a.boecskoer@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

Original-Content von: Schoeller-Bleckmann Oilfield Equipment AG, übermittelt durch news aktuell