Schoeller-Bleckmann Oilfield Equipment AG: Annual result 2016
(World News Austria)

Ternitz/Vienna, 17 March 2017.The entire oilfield service industry was confronted with a persistent downturn in 2016. For the first time in three decades, oil companies curtailed their spending for exploration and production (E&P) in two consecutive years by a total of 42 %. Schoeller-Bleckmann Oilfield Equipment AG (SBO), listed on the ATX market of the Vienna Stock Exchange, felt the effects both in terms of sales and profit. Nevertheless, SBO generated a positive operating cashflow and preserved its fundamentally strong balance sheet structure by implementing proactive countermeasures. With the acquisition of Downhole Technology, SBO consistently continued its strategy to expand the...