Schoeller Bleckmann Oilfield Equipment AG
VSE:SBO
Schoeller Bleckmann Oilfield Equipment AG
Schoeller-Bleckmann Oilfield Equipment AG manufactures and designs drilling equipment for the oil and gas service industry. The company is headquartered in Ternitz, Niederoesterreich and currently employs 1,131 full-time employees. The company went IPO on 2003-03-27. The Company’s activities are structured into two divisions: the High-precision components division, which covers applications in the Measurement While Drilling/Logging While Drilling (MWD/LWD) technology sector, collars and internals made of alloyed steel and other non-magnetic metals are required, and the Oilfield supplies and services division, which comprises a range of products, including Non-Magnetic Drill Collars (NMDC), steel bars, which are used to prevent magnetic interference during MWD Operations; Drilling motors, which drive the bit for directional drilling operations; Circulation tools steer the flow direction of drilling muds in the drill string, and various other tools for the oilfield. The firm's manufacturing facilities are located in the United States, Austria and the United Kingdom, among others.
Schoeller-Bleckmann Oilfield Equipment AG manufactures and designs drilling equipment for the oil and gas service industry. The company is headquartered in Ternitz, Niederoesterreich and currently employs 1,131 full-time employees. The company went IPO on 2003-03-27. The Company’s activities are structured into two divisions: the High-precision components division, which covers applications in the Measurement While Drilling/Logging While Drilling (MWD/LWD) technology sector, collars and internals made of alloyed steel and other non-magnetic metals are required, and the Oilfield supplies and services division, which comprises a range of products, including Non-Magnetic Drill Collars (NMDC), steel bars, which are used to prevent magnetic interference during MWD Operations; Drilling motors, which drive the bit for directional drilling operations; Circulation tools steer the flow direction of drilling muds in the drill string, and various other tools for the oilfield. The firm's manufacturing facilities are located in the United States, Austria and the United Kingdom, among others.
Sales: Group sales reached EUR 425.6 million, down 3% year-on-year, mainly due to weakness in the U.S. market but supported by strong international growth.
Profitability: EBIT was EUR 51.8 million and EBITDA EUR 75.8 million, both below last year due to a weak first half for Oilfield Equipment and a soft Q3 for AMS, partly from FX losses.
Cash Flow: Free cash flow improved significantly to over EUR 42 million, driven by lower working capital and better cash generation.
Regional Expansion: Double-digit sales growth achieved in the Middle East and Latin America, helping offset U.S. market softness.
Market Outlook: Long-term fundamentals for oilfield services remain strong, but near-term demand is moderate and customers are cautious, especially in AMS.
Guidance: Management targets double-digit EBIT margins for Oilfield Equipment in 2025 and sees continued focus on diversification and operational efficiency.
FX Impact: Significant FX losses impacted AMS in Q3, though the effect on sales was not material.
