SBO: Increase in Profits by 79%

Published: January 18, 2011; 00:24 · (Vindobona)

The Austrian Oilfield equipment manufacturer Schoeller-Bleckmann (SBO) announces increasing sales as well as profits.

SBO: Increase in Profits by 79% / Picture: © Schoeller-Bleckmann Oilfield Equipment

Schoeller-Bleckmann Oilfield Equipment AG (SBO), listed on the ATX market of the Vienna Stock Exchange, generated in 2010 a remarkable increase in sales and profit due to a positive market environment.

Based on preliminary figures, group sales went up by 22% from 251.6m in the year before to € 306.0. Earnings before taxes (EBT) rose considerably by 79% from € 23.5m in 2009 to € 42.0m in 2010.

The final figures for the full 2010 fiscal year (1 January - 31 December 2010) will be published by SBO on 10 March 2011.

Schoeller-Bleckmann Oilfield Equipment AG is the global market leader in high-precision components for the oilfield service industry. The business focus is on non-magnetic drillstring components for directional drilling. Additionally, the group manufactures drilling motors and drilling tools and offers to its customers full-scale repair and maintenance services. As of 31 December 2010, SBO has employed a global workforce of 1,275.