EANS-News
Schoeller-Bleckmann Oilfield Equipment AG /Sales and earnings continue path of growth in the first three quarters of 2018
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Corporate news transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is responsible for the content of this announcement.
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Corporate news transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is responsible for the content of this announcement.
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- Sales increase by more than a third to MEUR 311, operating result (EBIT)
by a factor of five to MEUR 54
- Current uncertainties in the markets create volatile environment
Quarterly Report
Ternitz/Vienna - 28 November 2018. Schoeller-Bleckmann Oilfield Equipment AG
(SBO) delivered a strong performance in the first three quarters of 2018 and
further increased its earnings. The company, which is listed on the ATX market
of the Vienna Stock Exchange, took advantage of the positive oil price
environment and the growing willingness of customers to invest in order to drive
up sales of its highly efficient drilling tools and products. SBO responded
early to the upswing, which is reflected in the company's business success:
sales and earnings rose significantly in the first three quarters of 2018.
SBO's sales amounted to MEUR 310.8, up more than one third compared to the
reference period of last year (1-9/2017: MEUR 227.6). Bookings climbed by 52.4 %
to MEUR 368.1, from MEUR 241.5 in the same period of last year. The order
backlog went up to MEUR 93.2 by the end of September 2018 (31 December 2017:
MEUR 37.6).
Earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose to
MEUR 89.8 (1-9/2017: MEUR 48.5), an increase of 85.4 %. The EBITDA margin during
the reporting period was 28.9 % (1-9/2017: 21.3 %), well above the long-term
average of 24.1 %. The operating result (EBIT) increased almost fivefold to MEUR
54.3 (1-9/2017: MEUR 11.0), including a one-off income of MEUR 1.9 from a land
sale in 2018. The EBIT margin was 17.5 % (1-9/2017: 4.8 %). The financial result
amounted to MEUR minus 12.7 (1-9/2017: MEUR minus 95.5, including an expense
from the revaluation of option commitments amounting to MEUR minus 89.5). Profit
before tax climbed to MEUR 41.6, compared to MEUR minus 84.5 in the same period
last year. Profit after tax was MEUR 33.0 (1-9/2017: MEUR minus 86.2). Earnings
per share amounted to EUR 2.07 (1-9/2017: EUR minus 5.41).
"We look back on three strong quarters of excellent development and,
consequently, have generated a sound business result," says SBO's CEO Gerald
Grohmann. "This year we have gradually hired new employees and expanded
capacities. Our investments have been targeted on growth of our company."
Sound balance sheet
The balance sheet structure of SBO remains sound: shareholders' equity increased
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