SBO posts highest 9-month sales and earnings figures in the past ten years
SCHOELLER-BLECKMANN OILFIELD EQUIPMENT Aktiengesell schaft (SBO), which is listed on the ATX leading index of the Vienna Stock Exchange, recorded the best development in a decade in the first nine months of 2022. Bookings arrived at their all-time high of MEUR 431.1. SBO's sales in the first nine months of the year climbed to MEUR 361.3, up 73 % year-on-year. EBIT increased by 350 %, standing at MEUR 72.6, and profit after tax grew six-fold to MEUR 55.3. Net liquidity rose to MEUR 37.8, and gearing improved further to minus 8.5 %.
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HIGHLIGHTS Q1 - Q3 2022
Gerald Grohmann, CEO of SBO:
"High investment requirements in the exploration and production of oil and gas support demand for our products and services, which exceeded our expectations in the first three quarters of 2022.
We are growing in all regions and product areas and see the best development in around a decade. Thus, we are heading for an extremely strong year."
In March 2022, SBO presented its "Strategy 2030" under which the company's core business aims to continue contributing to security of energy supply. At the same time, it provides for building a new segment in the fields of energy transition and green tech industries. Together with external partners, projects were launched to identify new and sustainable techno logies with a defined focus on the market so as to develop a profitable new business segment by acquiring companies. At the same time, ESG criteria are firmly entreched in the Group's strategy. SBO is continuously working on the structural improvement of its internal energy efficiency and reduction of CO2 emissions. The company holds an ISS ESG rating and has for the first time reported comprehensively to the Carbon Disclosure Project (CDP) for the 2021 financial year.
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Business development | HIGHLIGHTS Q1 - Q3 2022
BUSINESS DEVELOPMENT
___
QUARTERLY DEVELOPMENT 1-9/2022
400
80
350
361.3
72.6
300
250
200
222.7
40
44.8
150
100
100.5
50
15.5
0
0
1-3/20221-6/2022 1-9/2022
1-3/2022
1-6/20221-9/2022
SALES IN MEUR
EBIT IN MEUR
SALES AND EARNINGS
Bookings at SBO picked up sharply in the first nine months of 2022, arriving at a record level of MEUR 431.1 (1-9/2021: MEUR 237.1, up by
82 %). Sales soared to MEUR 361.3 (1-9/2021: MEUR 208.3, up by 73 %). The order backlog at the end of September stood at MEUR 189.5 (31 December 2021: MEUR 111.7). Earnings before interest, taxes,
depreciation, and amortization (EBITDA) increased to MEUR 96.8 in 2022, following MEUR 40.1 in the first three quarters of 2021, and the EBITDA margin went up to 26.8 % (1-9/2021: 19.2 %). Profit from operations (EBIT) came to MEUR 72.6, more than quadrupling year-on-year(1-9/2021: MEUR 16.1).
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"Energy security is a global concern and part of our strategy. As policymakers and energy markets failed to take the required decisions in the past, there is a strong need for action resulting in high demand for oil and gas. This means that our growth engine is running at full speed, and business is booming like it has not been for a long time. This is also reflected in our sequential quarterly development, as we have achieved continuous growth
since summer 2020", comments SBO's CEO Gerald Grohmann.
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Business development | HIGHLIGHTS Q1 - Q3 2022
Profit before and after tax developed even better: SBO generated a pre-tax result of MEUR 69.9 (1-9/2021: MEUR 12.7, up by 450 %), whereas profit after tax increased six-fold compared to the previous year to MEUR 55.3 (1-9/2021: MEUR 8.9, up by
523 %). Earnings per share also increased clearly to EUR 3.52 in the first three quarters of 2022 (1-9/2021: EUR 0.57). The strong US dollar compared to the euro had a supportive effect.
IN MEUR
1-9/2022
BOOKINGS
1-9/2021
1-9/2022
SALES
1-9/2021
30.09.2022
ORDER BACKLOG
31.12.2021
1-9/2022
EBIT
1-9/2021
431.1
237.1
361.3
208.3
189.5
111.7
72.6
16.1
0
100
200
300
400
500
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SBO - Schoeller-Bleckmann Oilfield Equipment AG published this content on 12 September 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 September 2023 08:23:08 UTC.
Schoeller-Bleckmann Oilfield Equipment AG is the worldwide leader in designing, manufacturing, and marketing of high-precision components and equipment used for drilling into oil and gas deposits. Net sales break down by family of products and services as follows:
- drilling equipment (50.4%): non-magnetic steel bars and drilling collars, drilling motors, stabilizers, borers, etc. Moreover, the group offers maintenance and repair services;
- high-precision components (49.6%): intended for assembling the antennas, probes, batteries, and generators used to take measurements and perform analyses during drilling operations.
Net sales are distributed geographically as follows: Europe (12.1%), the United States (54.2%), North America (6%), the Middle East (6.6%) and other (21.1%).
SCHOELLER-BLECKMANN OILFIELD EQUIPMENT AG 
