Schoeller-Bleckmann swings to half-year loss on write-offs in North America

SBO AG

13/08/2020 14:28

VIENNA, Aug 13 (Reuters) - Austrian oilfield equipment
producer Schoeller-Bleckmann (SBO)  SBOE.VI  swung to a loss in
the first half of 2020, burdened by write-offs on assets in
North America.
    The group posted a loss after tax of 12 million euros ($14
million) after a profit of 17.2 million in the previous year.
Earnings were weighed down by 20 million euros of non-cash
impairment charges on assets of subsidiaries in North America.
    The company, which generates a large chunk of revenue in
North America, saw revenues fall 22% to 185 million euros in the
January-June period.
    The company will publish its half-year report on Aug. 27.

($1 = 0.8447 euros)

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