SBO rises after dividend beat, 'encouraging' outlook

SBO AG

16/03/2023 10:21

** Shares in Schoeller-Bleckmann Oilfield Equipment AG (SBO)
 SBOE.VI  rise 2.1% after it gave upbeat comments about 2023 and
proposed dividend above expectations
    ** The Austrian oil and gas equipment maker had an order
backlog of 265 million euros ($281 million) at the end of last
year, after it achieved all-time high bookings in 2022
    ** "With our order books well filled, we are convinced that
we will make an important contribution also in 2023," its CEO
says, as the group anticipates rising demand for oil and gas
    ** It proposes a dividend of 2 euros/share for 2022 vs 0.75
euros/share a year earlier
    ** "2022 results broadly in line with expectations, 2023
outlook encouraging," Erste Group analysts say, adding the order
book is "promising" and the proposed dividend above expectations
    ** The SBO shares top the Austrian traded index  .ATX 

($1 = 0.9430 euros)

 (Reporting by Tristan Chabba)
 ((Tristan.chabba@thomsonreuters.com))