Schoeller-Bleckmann Oilfield Equipment (SBO) Austrian Select Conference summary

Company Overview and Market Positioning

• Global leader in high-alloy, non-magnetic steel and high-precision components for energy and industrial sectors.

• Operates over 20 sites worldwide with approximately 1,500 employees.

• Two main divisions: Precision Technology (PT) and Energy Equipment (EE), serving diverse markets including oil, gas, geothermal, and industrial drilling.

• Strong focus on customer-centric innovation and protected by robust intellectual property.

Market Environment and Industry Trends

• 2025 saw significant headwinds: oil oversupply (+2.2 mb/d), low oil prices (Brent and WTI down 18–20%), and evolving tariffs, leading to customer uncertainty and reduced CAPEX by up to 31% among major OFSE clients.

• Wells drilled and completed declined by 4% in 2025, reflecting decreased industry activity.

• 2025 faced oversupply in oil, OPEC production increases, and volatile tariffs, leading to reduced customer CapEx and drilling activity.

• Middle East conflict introduces uncertainty, especially regarding the Strait of Hormuz and energy supply, with limited global supply buffer and elevated price volatility.

Financial Performance and Operational Highlights

• 2025 sales reached €455.3 million, down 18.8% year-over-year, with an EBITDA margin of 15.6% despite industry headwinds.

• Equity ratio at year-end was 47.2%, and earnings per share stood at €1.50; proposed dividend of €0.75 per share.

• Free cash flow was €25.5 million, with CapEx focused on additive manufacturing, site expansions, and distribution centers.

• Headcount in PT reduced by 11% year-on-year, or 15% adjusted for acquisitions.

• Liquid funds at €281.5 million and net debt at €78.1 million by year-end 2025.