EANS-News
Schoeller-Bleckmann Oilfield Equipment AG posts significant increase in earnings in 2018 - ATTACHMENT
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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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Annual Report
Ternitz/Vienna - 19 March 2019.
* Sound environment in North America and revival of international markets spur
SBO
* Sales rise by approximately 30 % to MEUR 420, EBIT almost tripled to
approximately MEUR 71
* Proposed dividend of EUR 1.00 per share
Ternitz/Vienna, 19 March 2019. Schoeller-Bleckmann Oilfield Equipment AG (SBO),
listed on the ATX market of the Vienna Stock Exchange, looks back on a
successful 2018 business year. As SBO had sized up capacities early, the company
benefited from its strong position in North America and the recovery of the
international markets so as to serve increased demand. This led to a marked
increase in earnings and a significant improvement of the company's key
performance indicators.
Bookings received by SBO in 2018 climbed by 40.9 % to MEUR 481.9 (2017: MEUR
342.0). Sales rose by 29.6 % and arrived at MEUR 420.2, following MEUR 324.2 in
2017. Order backlog at the end of 2018 was MEUR 97.7 (31. December 2017: MEUR
37.6).
Earnings before interest, taxes, depreciation, and amortization (EBITDA) went up
from MEUR 74.7 in 2017 to MEUR 120.0 in 2018. EBITDA margin stood at 28.6 %,
above the long-term average of 24.3 %. Profit from operations (EBIT) before non-
recurring items tripled from MEUR 23.6 in 2017 to MEUR 74.6, and the EBIT after
non-recurring items totalled MEUR 70.7 (2017: MEUR 25.6). This figure includes
expenses resulting from a restructuring program under which SBO is closing two
sites in Mexico and England. Production capacities will be relocated to other
sites to retain them to a large extent. These measures are additional steps for
efficiency and productivity enhancements within the Group.
SBO improved profit before tax substantially to MEUR 55.9, compared to MEUR
minus 69.8 in 2017. Profit after tax was MEUR 41.4 (2017: MEUR minus 54.4). The
financial result arrived at MEUR minus 14.8 (2017: MEUR minus 95.4). The results
of the previous year had included non-cash expenses related to the shares of
minority shareholders (option) of a company acquired in 2016. Earnings per share
amounted to EUR 2.59 in 2018 (2017: EUR minus 3.41).
"A sound year lies behind us. We promptly responded to the improved market
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