[ad_1]
© Reuters / Christian Hartmann© Reuters / Christian Hartmann
Ternitz / Vienna. (kle) SBO, the equipment supplier for oil fields in Lower Austria, purrs. During the first three quarters, the Ternitz-based company, which provides among other things to the oil industry extremely efficient drilling tools, amounted to 310.8 million euros, a 36% increase over the same period of the previous year. Operating income, earnings before interest and taxes (EBIT), SBO could even fivefold: to 54.3 million euros. On the balance sheet – net -, the subcontractor gained 33.0 million euros, the previous year, a loss of 86.2 million euros after the first nine months.
"We have three strong quarterbacks and we have a good result," said Gerald Grohmann, CEO. Gradually this year, employees were recruited and expanded capabilities. SBO – the acronym for Schoeller-Bleckmann Oilfield Equipment – has recently benefited most from the fact that oil companies have significantly increased their investments in oil exploration and production due to rising oil prices and of a good economy.
Share with sharp price increase
The third quarter sales figure released on Wednesday boosted the SBO stock price. At the top, the title, which had been under pressure for weeks, had gained 14.5% to 74.80 euros.
The price of oil has fallen about 30% since the beginning of the fourth quarter (because there is currently an oversupply of oil), does not consider Mr. Grohmann a threat to his company. Activities in the United States are still strong and other international activities have also attracted. The uncertainty in the market will probably only exist "in the short term," said Grohmann about a December meeting in Vienna of the Organization of Petroleum Exporting Countries (OPEC) , during which will be discussed the continuation of the policy of aid. "If Opep's production is reduced as advertised, it should stabilize oil prices again," said the boss of SBO.
According to him, 2019 should also be a good year, because the order books are well filled. This year (up to the end of September), order intake increased by 52% to reach 368.1 million euros.
Source link
