on Schoeller-Bleckmann Oilfield Equipment AG (isin : AT0000946652)
Schoeller-Bleckmann Reports Stable Growth Amid Market Challenges
Schoeller-Bleckmann Oilfield Equipment AG (SBO) has reported steady results for the first nine months of 2024, highlighting sales of EUR 425.6 million, bolstered by an 8.7% growth in its Oilfield Equipment (OE) division. Despite a challenging market environment marked by lower oil demand and price volatility, SBO's EBIT stood at EUR 51.8 million with an improved free cash flow of EUR 42.5 million.
The company has expanded into growth markets in Latin America and the Middle East, investing in a facility in Saudi Arabia. While the OE division rebounded in Q3, the Advanced Manufacturing & Services (AMS) division faced reduced demand, affecting sales and profit margins. The group's order backlog decreased to EUR 166.0 million by September.
Looking forward, SBO is recalibrating its strategy with a focus on profitable growth, aiming to capitalize on long-term energy sector opportunities despite short-term volatility.
R. H.
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