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Schoeller-Bleckmann Oilfield Equipment AG / Very challenging marketenvironment reflected in operating result - Nonetheless, record free cash-flowand liquid funds increased - highly robust balance sheet structure with equityratio of 59%
Press Wire ♦
Published: November 26, 2015; 08:00 ♦ (Vindobona)
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The entire oilfield service industry was hit by the expected massive slump of drilling activity in the first nine months of 2015. Schoeller-Bleckmann Oilfield Equipment AG (SBO) responded at an early stage - already in Q3 2014 - by taking a set of countermeasures to guide the company safely through the downturn. Naturally, the market collapse was reflected in the earnings figures of SBO. Nevertheless, SBO was able, in the first nine months, to generate positive operating income (EBIT) before impairments, record free cash-flow and to increase liquid funds in this extremely difficult environment, which worsened even further throughout the third quarter.
Schoeller-Bleckmann Oilfield Equipment AG / Very challenging marketenvironment reflected in operating result - Nonetheless, record free cash-flowand liquid funds increased - highly robust balance sheet structure with equityratio of 59% / Picture: © Vindobona.org
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9-month report
Ternitz/Vienna, 26 November 2015. The entire oilfield…
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