Schoeller Bleckmann scraps dividend after posting full-year loss

SBO AG

17/03/2021 07:53

March 17 (Reuters) - Austrian oilfield equipment producer
Schoeller-Bleckmann (SBO)  SBOE.VI  on Wednesday said it would
not pay a dividend for 2020 after swinging to a full-year loss,
citing the drop in demand for oil and gas caused by the
coronavirus pandemic.
    The company, which generates a large chunk of its revenue in
North America, posted a post-tax loss of 22 million euros ($26
million) after earning a 32 million euro profit in 2019.
    2020 was one of the toughest years in the industry's
history, with an unprecedented drop in oil and gas demand 
during the pandemic.
    Schoeller Bleckmann expects to see a moderate increase in
activities in the first half of the year, which should gain
momentum in the second half of 2021.
    The group said its full-year revenues fell 35% to 291 
million euros, confirming the preliminary figure.  urn:newsml:reuters.com:*:nFWN2JT0VQ

($1 = 0.8406 euros)

 (Reporting by Bartosz Dabrowski in Gdansk, editing by Thomas
Escritt)
 ((bartosz.dabrowski@thomsonreuters.com; +48 587696560;))