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Wanna energize your Portfolio ? SBOE may be your ticket to the party. There aren`t many hanging fruits left. World oil production is forecast to increase sharply. Escalating demand is forecast in India, China, and other Asian countries China and India`s population is 8x U.S. Per capita consumption is 30x greater in U.S. China`s oil demand growth has been 9% per year So we need more production in both oil and gas, and we are going to get it. That bodes extremely well for companies such as Schlumberger, Halliburton or Baker Hughes, the drillers, who have to do this work, and their suppliers. Schoeller-Bleckmann Oilfield Equipment AG (SBOE), Austria, is the only full range supplier focused on next-generation drilling technology and the TOP - supplier of the "big three". Before I buy a stock, I ask how the company`s customers are doing. I won`t go wrong with this simple inquiry. It very quickly cuts to the core of what a company will earn in the future. That`s how I like to view stocks.Right now the solvent customers aren`t in technology. Last year at this time, you had telcos and dot-coms ordering like mad. Now they are vanishing. But consider the state of another industry. We know, that the oil industry is healthy. They are doing well and have a decent amount of money. SBO offers state of the art Directional Drilling Components. As the world depletes oil supplies, customers look to explore outside the proven, mature areas. Directional Drilling Components are the appropriate tool therefore. Revenue will speed up. I think the cash flow and earnings coming out of that company for the next four to six quarters is going to be absolutely outstanding. Most E&P companies reported record or near-record earnings for 2000, and the numbers only get better in 2001. High prices for crude oil and natural gas have production profit margins gushing. Growing margins and high commodity prices have been the impetus for exploration and production companies to increase capital budgets more than 20% in 2001, with many promising rapid production growth. Nearly all segments of the industry appear capacity constrained, if that kind of commodity pricing environment holds, both earnings and cash flows would soar for E&P companies and their suppliers. The increased demand for exploration and production equipment has been so great, that 2001 may be better than many analysts expect. Capacity is already so tight in some portions of the services market that scarcity is becoming an issue. The U.S. rig count has increased 50% in the last year and currently pushing capacity, with nearly 90% of the available rigs in use. That has many E&P companies scrambling for rigs and equipment, regardless of the cost. Price sensitivity isn`t quite as important to the operator as access to the equipment. Producers are more concerned with availability right now that they are with price. It`s an environment SBOE is positioned to take advantage of. Excellent links are company`s homepage: www.sbo.co.at And www.easdaq.be (charts) Ticker : SBOE Reuters-Code SBOE.ED Bloomberg-Code SBOE ES For further information please contact: Schoeller Bleckmann Oilfield Equipment AG Tel 43 2630 315 500 Fax 43 2630 315 101 e-mail CFO Franz Gritsch : gritsch@sbo.co.at Two Broker Research Contacts: Source: RZB Estimates www.rzb.at per share 1. RZB Bank Analyst Klara Szekffy +43/1/71707-1530 wzbszk@rzb.at Sales Manfred Schmirl +43/1/71707-1109 wzbsmf@rzb.at Source: RZB Estimates www.rzb.at per share in EUR 1998 1999 2000e 2001e 2002e Earnings per share 0,58 0,12 0,87 1,08 1,28 P/E 8,8 55,1 11,8 9,5 8,1 Cash Flow 1,43 0,98 1,52 1,66 1,84 P/CF 3,6 6,5 6,8 6,2 5,6 Dividend 0,23 0,10 0,25 0,27 0,30 Pay out Ratio 40 86 29 25 23 Shares outstanding(Mio.) 11,81 13,00 13,00 13,00 13,00 2. Bank Securities Trading Department 1010 Wien, Am Hof 2 Tel: +43/ 71191 - Ext. _______________________________________ Full disclosure: I own shares of Schoeller Bleckmann Target price EUR 20 This material is produced by me. It is intended only for information. The views expressed are opinions only and should not be regarded as a substitute for the exercise of the recipient`s own judgement. The information is based on material which I consider to be reliable, but it is not necessarily accurate nor complete and should not be relied on as such. I accept no liability for any loss arising from the use of this document. |
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| aus der Diskussion: | Schoeller-Bleckmann : Ein Nischenplayer mit gr. Potenzial |
| Autor (Datum des Eintrages): | posting2001 (11.03.01 14:03:02) |
| Beitrag: | 1 von 1 (ID:3076263) |
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