EANS-News

Schoeller-Bleckmann Oilfield Equipment AG: Sales and profit rising in the first quarter of 2017

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Quaterly Report

Ternitz - - Continued market recovery in North America; internationally, such revival has
not yet started
- Sales and bookings develop positively within expectations
- The company is well positioned to respond flexibly to the upswing

Ternitz/Vienna, 24 May 2017. The oilfield service industry started into 2017 on
an appreciable recovery of the North American market. Internationally, such
revival has not yet started to take place. According to analysts, this picture
should continue throughout the full year: For 2017, spending for exploration and
production (E&P) is expected to increase by 21 % in North America, but only 2 %
internationally. Thus, the repercussions of the sharpest decline in the industry
in the past 30 years are still being felt.

Market developments in the first quarter of 2017 were also reflected in the
business figures of Schoeller-Bleckmann Oilfield Equipment AG (SBO), which is
listed on the ATX market of the Vienna Stock Exchange and has gained a strong
position in North America. Improved activity levels of oil companies had
positive effects for SBO. Sales generated by SBO in the first quarter of 2017
arrived at MEUR 60.1. Compared to the same quarter of 2016, this represents an
increase of 28.5 % (1-3/2016: MEUR 46.8). Bookings rose by 72.0 %, to MEUR 69.9,
following MEUR 40.6 in the first quarter of 2016. As a result, the book-to-bill-
ratio, which measures the number of orders coming in compared to sales, was
greater than 1 for the second consecutive quarter, indicating positive medium-
term development. The order backlog totalled MEUR 30.5, following MEUR 28.3 as
at 31 March 2016.

"After the fundamental crisis of the past two years our industry is now slowly
turning into the right direction", explains Gerald Grohmann, CEO of SBO. "As we
had expected, the United States are leading this cycle, which is why we have
very consciously, at an early stage, positioned ourselves in the North American
market. This is also reflected in the positive development of our quarterly
figures. Internationally, such rebound is still some way off."

SBO posts business result growth and fundamentally strong balance sheet
structure

In the first quarter of 2017, SBO recorded earnings before interest, taxes,
depreciation, and amortisation (EBITDA) of MEUR 7.2 (1-3/2016: MEUR minus 4.8).