EQS-News

Financial year 2023: SBO with all-time high in sales

EQS-News: Schoeller-Bleckmann Oilfield Equipment AG / Key word(s): Annual Results Financial year 2023: SBO with all-time high in sales 20.03.2024 / 08:00 CET/CEST The issuer is solely responsible for the content of this announcement. Financial year 2023: SBO with all-time high in sales

• Sales of MEUR 585.9 at record level (+16.9%)
• EBIT improved to MEUR 102.3, operating cash flow increased by around 65% to MEUR 86.5
• Dividend proposal of EUR 2.00 per share

Ternitz/Vienna, 20 March  2024. Schoeller-Bleckmann Oilfield Equipment AG (SBO), listed on the ATX of the Vienna Stock Exchange, continued its growth in 2023 and recorded excellent sales and earnings development. The SBO Group's sales rose by 16.9% to an all-time high of MEUR 585.9 (2022: MEUR 501.2), driven by the outstanding performance of the AMS division with 32.2% growth. Thanks to continued high demand, particularly in international markets, bookings reached MEUR 543.7, following a record figure in the previous year (2022: MEUR 646.0). The order backlog per year-end remained at a high level at MEUR 225.4 (2022: MEUR 265.0).

Earnings increased compared to the previous year, but were impacted by negative foreign exchange effects in 2023. Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to MEUR 131.3 (2022: MEUR 129.1); adjusted for foreign exchange losses, EBITDA increased by 11.6% to MEUR 138.2 (adjusted EBITDA 2022: MEUR 123.8). Profit from operations (EBIT) rose to MEUR 102.3 (2022: MEUR 96.2), the adjusted EBIT increased by 20.1% to MEUR 109.2 (adjusted EBIT 2022: MEUR 90.9). This led to an improved adjusted EBIT margin of 18.6% (2022: 18.1%). 

Profit before and after tax with solid development: Profit before tax of MEUR 94.2 was slightly higher than the previous year's (2022: MEUR 93.3), and profit after tax amounted to MEUR 71.6 (2022: MEUR 75.2). The higher tax rate in 2023 (24.0%) was primarily due to the valuation of investments in subsidiaries.

"The year 2023 was extraordinarily successful for SBO. We have once again demonstrated our operational strength, achieved record sales, improved our operating result and generated a high operating cash flow. In particular, our AMS division delivered a top performance and contributed to these accomplishments", says Klaus Mader, CEO of SBO. "We also strengthened our core business: With the acquisition of Praxis Completion Technology, we have not only expanded our portfolio in the area of well completion, but also extended our presence in the growing markets in the Middle East and extended our product range for the promising area of Carbon Capture and Storage."