Schoeller-Bleckmann's Q1 operating profit down 40%

SBO AG

20/05/2020 07:11

VIENNA, May 20 (Reuters) - Austrian oilfield equipment
producer Schoeller-Bleckmann (SBO)  SBOE.VI  said on Wednesday
its operating profit fell 40% in the first quarter as the
coronavirus sent shockwaves through the energy sector and slowed
global production significantly.
    Earnings before interest and tax (EBIT) fell to 12.1 million
euros ($13.25 million) on sales of 108.9 million euros, the
group said.  
    SBO, which builds highly specialised oilfield exploration
equipment for energy companies, said it had halved its net debt
compared to end-2019 to 9.1 million euros.
    
($1 = 0.9135 euros)

 (Reporting by Kirsti Knolle
Editing by Michelle Martin)
 ((kirsti.knolle@thomsonreuters.com; +43 1 2530 1650 13;))