Schoeller-Bleckmann Oilfield Equipment (SBO) Q1 2025 earnings summary

Executive summary

• Q1 2025 sales reached MEUR 129.2, down 11.9% year-over-year amid global macroeconomic instability, but profitability and margins remained strong.

• EBITDA was MEUR 26.4 (margin 20.4%), EBIT MEUR 18.3 (margin 14.2%), and profit after tax MEUR 13.0 (EUR 0.83/share).

• Free cash flow improved to MEUR 13.3, net debt reduced to MEUR 47.1, and gearing improved to 9.7%, reflecting a robust financial position.

• Strategic milestones included technology upgrades, commercialization of advanced drilling tools, and a legal name change to SBO AG.

• Facility expansions in Vietnam and the Middle East supported international growth and increased CAPEX.

Financial highlights

• Sales declined to MEUR 129.2 from MEUR 146.7 year-over-year; bookings were MEUR 108.3, and order backlog at quarter-end was MEUR 124.1.

• EBITDA margin improved to 20.4% (Q1 2024: 19.6%), EBIT margin rose to 14.2% (Q1 2024: 14.0%).

• Operating cash flow increased to MEUR 22.7 (Q1 2024: MEUR 9.7); free cash flow rose to MEUR 13.3 (Q1 2024: MEUR 2.5).

• Liquid funds at quarter-end were MEUR 323.0, equity ratio at 49.8%, and gearing improved to 9.7%.

• Dividend of EUR 1.75 per share approved, with MEUR 28 payout in Q2.

Outlook and guidance

• Market remains challenging with low oil prices, trade tensions, and reduced customer spending, especially in Precision Technology.

• Key customers in Precision Technology have revised 2025 capital expenditure downward, particularly in North America.

• SBO continues to focus on innovation, cost management, and international expansion, with long-term confidence in energy demand and sector diversification.