Schoeller-Bleckmann Announces Record High Sales in Financial Year 2023

Schoeller-Bleckmann Oilfield Equipment AG (SBO) reported a significant rise in sales and earnings for the financial year 2023. This year marked a record with sales reaching MEUR 585.9, which is an increase of 16.9% from the previous year. The company's earnings before interest and taxes (EBIT) also saw improvement, escalating to MEUR 102.3, with operating cash flow surging by approximately 65% to MEUR 86.5. SBO proposed a dividend of EUR 2.00 per share.

Particularly, the AMS division showcased an exceptional performance with a 32.2% growth, driving the sales upsurge. SBO's strategic acquisition of Praxis Completion Technology in October 2023 bolstered its portfolio in the area of well completion and expanded its market presence, especially in the Middle East. This acquisition not only broadened SBO's product range but also supported its initiatives in Carbon Capture and Storage (CCS) technologies.

Despite the challenges, including negative foreign exchange effects that impacted earnings, SBO managed to maintain a robust order backlog and increase its equity to MEUR 448.0 by year-end 2023. The company's financial health remained strong with a notable equity ratio of 53.6%. Looking forward, SBO remains optimistic about the industry's prospects, attributing confidence to ongoing energy security needs and increased investments in international markets and offshore projects.

SBO's commitment to expanding its footprint in key growth markets like the Middle East and Asia, alongside intensifying efforts in green tech energy sectors like geothermal and CCS, aligns with its strategic goals for the future. CEO Klaus Mader emphasized the company's aim to capitalize on global spending increases in exploration and production, ensuring SBO's sustained leadership and innovative edge in the industry.