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Schoeller-Bleckmann Oilfield Equipment AG

euro adhoc: Schoeller-Bleckmann Oilfield Equipment AG
Quarterly or Semiannual Financial Statements
Schoeller-Bleckmann Oilfield Equipment AG: Bookings up 36 % in Q1 2005 - profit before tax rises to EUR 4.5 (following 3.1) million Demand for oil co

Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.
19.05.2005
Ternitz, May 20, 2005. For Schoeller-Bleckmann Oilfield Equipment AG
(SBO), listed on the Vienna Stock Exchange, ATX segment, the first
quarter of 2005 started off well. Profit before tax rose from EUR 3.1
million in Q1 of 2004 to EUR 4.5 million, which is an increase of
45%. In the first quarter of 2005 sales rose to EUR 36.2 million,
following EUR 35.3 million in the same period of 2004. Adjusted for
the decline of the dollar, sales worth approx. EUR 37.5 million were
generated in the first quarter.
Bookings received in the first three months of 2005 amounted to EUR
51.6 million, which is 36% above the figure achieved last year (Q1 of
2004: EUR 37.8 mill). The above-average order backlog as of end of
March 2005 was EUR 51.5 mill (Dec. 31, 2004: EUR 38.8 mill).
In order to cover the expected rise in consumption and stimulated by
the current oil price, international oil companies have started to
increasingly invest in exploring new oil reservoirs. "The market for
challenging directional drilling, the business focus of SBO, has also
seen a significant upswing. This is reflected in the highest level of
bookings in four years", says Gerald Grohmann, CEO of
Schoeller-Bleckmann Oilfield Equipment.
New production capacities, such as in Mexico, have started their
activities in due time. Several production steps will now
additionally be outsourced to optimally work off the high level of
bookings.
The issue proceeds of EUR 54 million generated from the successfully
completed capital increase of March 2005 is the basis of a strategic
investment programme worth approx. EUR 100 million, which is
scheduled to be completed by 2007. It contains both internal growth
and acquisitions as well as setting up new sites in oil production
centres such as Siberia. "We are currently reviewing several
promising projects", says Gerald Grohmann.
Demand for oil continues to be high - good prospects for SBO in 2005
The demand for oil and gas continues to be strong. While the growth
forecasts for Europe have been revised slightly downwards, business
development in the US and Asia remains robust and therefore sustains
the continuing high demand for oil. "This growth needs energy, which
makes us feel optimistic about the current business year 2005", says
Gerald Grohmann about the business prospects.
Comparison of key figures in MEUR
~
                   1-3 2005        1-3 2004
Sales                  36.2            35.3
EBIT                    4.9             3.6
EBIT margin (%)        13.6            10.1
Profit before tax       4.5             3.1
Net income              3.2             2.1
EPS*                    0.25            0.16
Headcount**           827             802
~
* based on average shares outstanding
** Reporting date March 31
Schoeller-Bleckmann Oilfield Equipment AG is the global market leader
in high-precision components for the oilfield service industry. The
business focus is on non-magnetic drillstring components for
directional drilling. Worldwide, SBO employs a workforce of 827 (Dec.
31, 2004: 837), currently 214 in the company headquarters at Ternitz,
Lower Austria, and 426 in North America (including Mexico).
end of announcement                    euro adhoc 20.05.2005 07:30:00 

Further inquiry note:

Gerald Grohmann, Chief Executive Officer
Schoeller-Bleckmann Oilfield Equipment AG
A-2630 Ternitz, Hauptstraße 2
Tel: +43 2630/315 ext. 110, fax: ext. 101
E-Mail: sboe@sbo.co.at

Mick Stempel, Hochegger|Financials
Tel :+43 1/504 69 87 ext. 85
E-Mail: m.stempel@hochegger.com

Branche: Oil & Gas - Upstream activities
ISIN: AT0000946652
WKN: 94665
Index: WBI, ATX Prime
Börsen: Wiener Börse AG / official dealing

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