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Schoeller-Bleckmann Oilfield Equipment (SBO) investor relations material
Schoeller-Bleckmann Oilfield Equipment Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Bookings rose 8.5% year-over-year to MEUR 235.3 in H1 2026, with order backlog up 31.7% since year-end, signaling a new upcycle despite the Middle East conflict and volatile oil prices.
Sales declined 19.3% year-over-year to MEUR 204.7, but showed an 8% sequential increase in Q2 2026, ending eight quarters of stagnation, driven by recovery in the Precision Technology division.
Diversification strategy accelerated, with nearly 10% of bookings from new business areas such as geothermal energy, additive manufacturing, and high-performance materials, and significant investments in additive manufacturing capacity in the U.S. and U.K.
The business environment remains volatile due to the Middle East conflict, impacting logistics, sales, and customer programs, but the company is well-positioned for recovery.
Profitability declined year-over-year, with EBITDA margin at 11.8% (down from 17.5%) and profit after tax at MEUR 0.2 (H1 2025: MEUR 18.5).
Financial highlights
Bookings: MEUR 235.3 (+8.5% YoY); Order backlog: MEUR 117.9 (+31.7% since year-end); Sales: MEUR 204.7 (-19.3% YoY); EBITDA: MEUR 24.2 (margin 11.8%); EBIT: MEUR 6.9 (margin 3.4%).
Profit after tax: MEUR 0.2; EPS: EUR 0.01; Operating cash flow: MEUR 11.2; Free cash flow: MEUR -13.3; Net debt: MEUR 100.1.
Equity ratio: 47.5%; Liquid funds: MEUR 254.8; Gearing ratio: 23.4%.
EBITDA margin improved to 12.0% in Q2 2026, with EBITDA up 11.3% quarter-over-quarter.
FX effects contributed to a 14.7% sales decline in H1 2026.
Outlook and guidance
Further recovery is expected in H2 2026, led by Precision Technology, with bookings and backlog supporting higher future sales and upside potential if Middle East tensions ease.
Additive manufacturing is forecast to grow at a CAGR of 26% through 2030, with the company targeting 20% annual growth in its 3D printing business.
Growth opportunities in geothermal energy, CCS, lithium and helium drilling, additive manufacturing, and flow control are being actively pursued.
Structural drivers such as energy security, inventory replenishment, and local resource development are expected to support demand.
Positive bookings momentum continues into Q3 2026.
- Bookings up 18.5% sequentially, but sales and earnings lag amid Middle East disruptions.SBO
Q1 2026 - Solid margins and strategic diversification drive growth amid 2025 market headwinds.SBO
Austrian Select Conference - Sales and profit fell, but diversification and Energy Equipment growth supported strong cash flow.SBO
H2 2025 - Sales and profits fell amid tough oil markets, but margins and strategy execution remained strong.SBO
Q4 2025 TU - Strong OE growth and cash flow offset AMS softness; outlook remains cautious.SBO
Q3 2024 - Sales near record levels, AMS strong, OE weak but set for H2 recovery.SBO
H1 2024 - EBITDA margin rose to 20.4% as Energy Equipment growth offset Precision Technology decline.SBO
Q1 2025 - Strategy targets EUR 900 million sales by 2030, driven by diversification and new markets.SBO
CMD 2025 - 2024 saw resilient sales, strong cash flow, and OE growth offsetting AMS declines.SBO
H2 2024
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