Schoeller Bleckmann Oilfield Equipment : Quarterly Highlights Q1 2023

Q1 2023

Highlights

BOOKINGS_ ________________________________ MEUR 157.6

1-3/2022	MEUR 129.1
SALES_ ____________________________________ MEUR 147.3
1-3/2022	MEUR 100.5
EBIT_______________________________________ MEUR	26.7
1-3/2022	MEUR	15.5
PROFIT AFTER TAX_ ________________________ MEUR	21.3
1-3/2022	MEUR	11.4

ENERGY.

SECURITY.

HIGHLIGHTS Q1 2023

HIGHLIGHTS

Q1 2023

SBO continuing strong in the first quarter of 2023

SCHOELLER-BLECKMANN OILFIELD EQUIPMENT Aktiengesell­ schaft (SBO), listed on the ATX leading index of the Vienna Stock

­Exchange, started­ 2023 with tailwinds, which was reflected in the high demand for SBO's products­ and services. The first quarter of 2023 saw a rise in ­bookings of around 22 % to MEUR 157.6, thus exceeding sales again, which grew by 47 % to MEUR 147.3. EBIT increased to MEUR 26.7, up by 72 %. The EBIT margin also showed a clear improvement, reaching 18.1 %. Profit after tax almost doubled to MEUR 21.3. Net liquidity increased to MEUR 41.7 and gearing improved to minus 9.5 %. The book- to-bill ratio, an indicator of medium-term development, remained above 1.

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HIGHLIGHTS Q1 2023

Gerald Grohmann, CEO of SBO:

"After a record year in 2022, we continue to report a pleasing business development for the first quarter of the current year. The persistently high level of bookings shows that demand for our services remains unbroken. But of course, we are not resting on our laurels. With our high-tech products for the energy sector, we significantly contribute to enhancing energy security. At the same time, we are preparing for the future and aim to become a strong player in the renewable energies sector as we are in our core business."

SBO is proactively pursuing its Strategy 2030, which includes the development of a new segment in the area of "New Energy". At the same time, the existing core business remains to contribute to a secure energy supply. This way, the Group aims to use its expertise to drive forward the energy solutions of tomorrow and generate around 50 % of its sales mainly in sustainable energy technologies in the long term. ESG is firmly anchored in the Group's strategy.

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"The year 2023 has started promisingly for us. We are enjoying continued strong market momentum and strong customer demand. This is reflected in our figures, both in sales growth and in the significant increase in EBIT and EBIT margin. These results underpin our leading positioning in the

market ", comments SBO's CEO Grohmann.

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Business development  |   HIGHLIGHTS Q1 2023

BUSINESS DEVELOPMENT

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SALES AND EARNINGS

SBO's booking rose to MEUR 157.6 in the first three months of 2023 (1-3/2022: MEUR 129.1, +22.1 %). Sales increased significantly to MEUR 147.3 (1-3/2022: MEUR 100.5, +46.6 %). The order backlog at the end of March stood at MEUR 269.6 (31 December 2022: MEUR 265.0).

Earnings before interest, taxes, depreciation and amorti­zation­ (EBITDA) came in at MEUR 33.4 in the first quarter­ of 2023, compared to MEUR 23.5 in the first quarter of 2022, and the EBITDA margin decreased slightly to 22.7 % (1-3/2022: 23.4 %), caused by exchange losses of MEUR 3.8 (1-3/2022: exchange gains of MEUR 1.8). Profit from opera­­

IN MEUR

BOOKINGS	1-3/2023
	1-3/2022
SALES	1-3/2023
	1-3/2022
ORDER BACKLOG	31.03.2023
	31.12.2022

157.6

129.1

147.3

100.5

269.6

265.0

tions (EBIT) amounted to MEUR 26.7, an in­crease of 72.2 % year-on-year(1-3/2022: MEUR 15.5). SBO gene­rated­ a profit before­ tax of MEUR 27.0 (1-3/2022: MEUR 14.3), with profit after tax almost doubling to MEUR 21.3 (1-3/2022: MEUR 11.4). Earnings per share increased to EUR 1.35 in the first quarter of 2023 (1-3/2022: EUR 0.72).

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Business development  |   HIGHLIGHTS Q1 2023

SEGMENTS

SBO's business consists of the two segments "Advanced Manufacturing & Services" (AMS) and "Oilfield Equipment" (OE). Sales of the AMS segment rose to MEUR 81.9 in the first three months (1-3/2022: MEUR 49.1), profit from operations (EBIT) more than

doubled to MEUR 17.5 (1-3/2022: MEUR 8.0). Sales of the OE segment grew to MEUR 65.4 (1-3/2022: MEUR 51.4), EBIT increased by about half to MEUR 11.7 (1-3/2022: MEUR 7.6).

KEY BALANCE SHEET FIGURES

As at 31 March 2023, SBO's equity amounted to MEUR 438.4 (31 December 2022: MEUR 425.0). The equity ratio remained unchanged at 47.1 % (31 December­ 2022: 47.1 %). Net liquidity increased to MEUR 41.7 (31 December 2022: MEUR 34.5). Gearing improved to minus 9.5 % (31 December 2022: minus 8.1 %). Liquid funds grew to MEUR 302.5 (31 December 2022: MEUR 287.8). Cashflow from

operating activities multiplied to MEUR 19.6 in the first quarter of 2023 (1-3/2022: MEUR 3.8), and free cashflow was clearly positive at MEUR 12.8, after a negative free cashflow of MEUR minus 1.3 in the first quarter of 2022. Capital expenditure in property, plant and equipment and intangible assets (excluding right of use assets) amounted to MEUR 7.3 (1-3/2022: MEUR 5.0).

SBO'S KEY PERFORMANCE INDICATORS AT A GLANCE

	UNIT	1-3/2023	1-3/2022
Sales	MEUR	147.3	100.5
Earnings before interest, taxes, depreciation and amortization
(EBITDA)	MEUR	33.4	23.5
EBITDA margin	%	22.7	23.4
Profit from operations (EBIT)	MEUR	26.7	15.5
EBIT margin	%	18.1	15.4
Profit before tax	MEUR	27.0	14.3
Profit after tax	MEUR	21.3	11.4
Earnings per share	EUR	1.35	0.72
Cashflow from operating activities	MEUR	19.6	3.8
Liquid funds as of 31 March 2023 / 31 December 2022	MEUR	302.5	287.8
Net liquidity as of 31 March 2023 / 31 December 2022	MEUR	41.7	34.5
Headcount as of 31 March 2023 / 31 December 2022		1,521	1,484

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