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Lower Austria's Schoeller-Bleckmann Oilfield Equipment AG Records Significant Drop in Profits
Schoeller-Bleckmann Oilfield Equipment AG (SBO), a leading global supplier of specialized equipment for the oil and gas industry, recorded a significant decline in net profit in the first three quarters of 2024. With a slump of 38 percent, profit fell to 34.4 million euros, highlighting the challenges of a volatile market and geopolitical uncertainties.
Klaus Mader (r.), CEO, and Campbell MacPherson (l.), COO of Schoeller-Bleckmann Oilfield Equipment AG are facing the challenge of a difficult year ahead. / Picture: © Schoeller-Bleckmann Oilfield Equipment AG
In 2023, SBO recorded record sales of EUR 585 million, which corresponds to an increase of 17% compared to the previous year. The operating result (EBIT) rose to 104 million euros. This positive development was driven in particular by the strong performance of the Advanced Manufacturing & Services division, which benefited from growth in international markets.
However, SBO…
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