Brief: Schoeller Bleckmann Oilfield Equipment Q1 Profit After Tax at EUR 21.3 Mln

SBO AG

24/05/2023 07:06

May 24 (Reuters) - SCHOELLER BLECKMANN OILFIELD
EQUIPMENT AG  SBOE.VI :
    * FIRST QUARTER 2023: SBO WITH CONTINUED STRONG DEVELOPMENT
    * Q1 PROFIT AFTER TAX 21.3 MILLION EUR
    * Q1 EBITDA 33.4 MILLION EUR
    * Q1 EBIT ROSE 72 PERCENT TO 27.0 MILLION EUR
    * BOOKINGS INCREASED TO MEUR 158, SALES UP BY AROUND 50 % TO
MEUR
147
    * OUTLOOK 2023: NORTH AMERICA IS EXPECTED TO SEE FLAT GROWTH
DUE
TO MODERATE DEVELOPMENT OF GAS PRICE AND ONGOING BUDGET
DISCIPLINE
    * SALES INCREASED SIGNIFICANTLY TO MEUR 147.3 (1-3/2022:
MEUR
100.5, +46.6 %).
    * OUTLOOK 2023: MIDDLE EAST, SOUTH AMERICA AND AFRICA
CONTINUE TO
BE GROWTH DRIVERS IN INDUSTRY
    * ORDER BACKLOG AT END OF MARCH STOOD AT MEUR 269.6 (31
DECEMBER
2022: MEUR 265.0)
    * SAYS POSITIVE OUTLOOK FOR REMAINDER OF YEAR
    * EBITDA MARGIN DECREASED SLIGHTLY TO 22.7 % (1-3/2022: 23.4
%),
CAUSED BY EXCHANGE LOSSES OF MEUR 3.8 (1-3/2022: EXCHANGE GAINS
OF MEUR 1.8)
    * PROFIT FROM OPERATIONS (EBIT) AMOUNTED TO MEUR 26.7, AN
INCREASE
OF 72.2 % YEAR-ON-YEAR (1-3/2022: MEUR 15.5)
    * SBO GENERATED A PROFIT BEFORE TAX OF MEUR 27.0 (1-3/2022:
MEUR
14.3), WITH PROFIT AFTER TAX ALMOST DOUBLING TO MEUR 21.3
(1-3/2022: MEUR 11.4). EARNINGS PER SHARE INCREASED TO EUR 1.35
IN Q1 OF 2023 (1-3/2022: EUR 0.72)
    * CEO - YEAR 2023 HAS STARTED PROMISINGLY FOR US. WE ARE
ENJOYING
CONTINUED STRONG MARKET MOMENTUM AND STRONG CUSTOMER DEMAND.
THIS IS REFLECTED IN OUR FIGURES, BOTH IN SALES GROWTH AND IN
SIGNIFICANT INCREASE IN EBIT AND EBIT MARGIN. THESE RESULTS
UNDERPIN OUR LEADING POSITIONING IN MARKET

Source text for Eikon:  ID:nEQ6yKH88a 
Further company coverage:  SBOE.VI 

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