EQS-News: SBO delivers resilient Q1 performance amid global uncertainty

SBO delivers resilient Q1 performance amid global uncertainty

• Sales at solid level of MEUR 129.2 despite macroeconomic instability
• EBITDA of MEUR 26.4, margin improved to 20.4%
• EBIT at MEUR 18.3 with a margin of 14.2%
• Profit after tax amounted to MEUR 13.0 or EUR 0.83 per share
• Free cash flow improved to MEUR 13.3 in the quarter
• Legal name change to “SBO AG” underlining strategic realignment

Ternitz, 22 May 2025. Schoeller-Bleckmann Oilfield Equipment AG (SBO), listed in the leading index ATX of the Vienna Stock Exchange, faced a challenging market environment shaped by declining oil prices, trade tensions, and shifting spending patterns in the industry. SBO's performance was resilient with mixed dynamics across its divisions.

Bookings of MEUR 108.3 remained below the previous year (1-3/2024: MEUR 118.6) and slightly below Q4 2024 (MEUR 110.8). Sales reached MEUR 129.2 (1-3/2024: MEUR 146.7), with a 29.7% sales decline in Precision Technology (PT) being partly offset by a 10.5% growth in Energy Equipment (EE). The Group’s order backlog amounted to MEUR 124.1 at the end of March (31 December 2024: MEUR 141.8).

Earnings before interest, taxes, depreciation and amortization (EBITDA) decreased to MEUR 26.4 (1-3/2024: MEUR 28.8), as lower capacity utilization in the PT division was only partially offset by higher earnings in EE. EBITDA margin increased to 20.4% (1-3/2024: 19.6%) Profit from operations (EBIT) decreased to MEUR 18.3 (1-3/2024: MEUR 20.6), with an increased EBIT margin of 14.2% (1-3/2024: 14.0%).

Profit before tax totaled MEUR 17.4 compared to MEUR 19.2 last year. Profit after tax reached MEUR 13.0 (1-3/2024: MEUR 15.0), resulting in EUR 0.83 earnings per share (1-3/2024: EUR 0.95).

CEO Klaus Mader summarizes the developments in the first quarter: ”2025 is experiencing a challenging business environment. Despite lower customer demand and increased market headwinds, SBO achieved solid results in the first quarter, driven by both divisions. While market uncertainty remains and global trade developments are difficult to predict, we manage the short-term dynamics and execute on our strategic objectives backed by our excellent financial foundation.”

Solid balance sheet, cash flow further improved
Operating cash flow significantly increased to MEUR 22.7 (1-3/2024: MEUR 9.7) and also free cash flow rose substantially to MEUR 13.3 (1-3/2024: MEUR 2.5), mainly due to lower working capital requirements. Capital expenditure for property, plant and equipment and intangible assets (excluding right of use assets) totalled MEUR 10.1, including investments in the facility expansions in the Middle East and Vietnam.

SBO maintained its excellent financial position in the first quarter of 2025. The company’s cash and cash equivalents increased further to MEUR 323.0 as of 31 March 2025 (31 December 2024: MEUR 314.7), almost entirely driven by the free cash flow. Equity stood at MEUR 484.6 as of 31 March 2025 (31 December 2024: MEUR 492.7), slightly impacted by currency translation effects, resulting in an equity ratio of 49.8% (31 December 2024: 50.0%). Net debt was reduced to MEUR 47.1 (31 December 2024: MEUR 56.0), further improving the company’s gearing to 9.7% (31 December 2024: 11.4%).

Outlook
The market environment for SBO remains challenging heading into the second quarter of 2025. Low oil prices, global trade tensions and continued tariff uncertainty lead to reduced spending weighing on demand in several regions. In the Precision Technology division, the market uncertainty prolonged the “wait-and-see” approach of customers resulting in lower bookings. SBO is actively managing this environment by continuing to adjust its production capacity and cost base and by mitigating the risk of tariffs where applicable. The Energy Equipment division sees an increasingly cautious market sentiment in the US, given the low oil prices. SBO stays focused on navigating dynamic demand fluctuations by driving operational efficiency measures while continuing its expansion in international growth markets.

SBO is executing on its strategy. This includes diversification into other industrial sectors, market expansion across high-growth regions, continuous investment in technology leadership and a strong emphasis on operational excellence. The Annual General Meeting held in April approved the change of the company name to “SBO AG,” which is expected to become legally effective upon entry in the commercial register at the end of the second quarter. Together with the new corporate identity, this underlines SBO‘s forward-looking orientation.

Despite short-term uncertainties, SBO remains confident thanks to the positive long-term outlook for the global energy sector. Growing demand, increasing attention to energy security, and ongoing energy transition driven by sustainability requirements continue to create new opportunities. SBO's high cash position and financial stability provide a solid foundation for the execution of its growth strategy.
 

SBO’s key performance indicators at a glance

About SBO

SBO is leading in the manufacture of high-alloy, non-magnetic steels, high-precision components and high-tech equipment for the energy sector and other industrial sectors. The global precision technology group, headquartered in Ternitz, Austria, operates worldwide at more than 20 locations with around 1,600 employees. The group delivers cutting-edge technologies backed by a highly innovative product portfolio and strong intellectual property. In its Precision Technology division, SBO specializes in high-precision metal components, ranging from complex steel parts to additive manufacturing solutions for industries requiring maximum accuracy and performance. In the Energy Equipment division, SBO provides high-tech equipment for directional drilling and well completion including high-precision flow control products. Designed for extreme conditions, these solutions perform in high-temperature and high-pressure environments, serving important industries including oil and gas, energy and other industrial sectors. SBO is listed in the leading index ATX of the Vienna Stock Exchange (ISIN AT0000946652). More information: www.sbo.at

Contact:
Monika Bell, Head of Investor Relations
phone: +43 2630 315-253
email:  investor.relations@sbo.at
            media.relations@sbo.at