Weak demand from the oil industry slows down Schoeller-Bleckmann • news • onvista

Vienna (Reuters) – Oilfield equipment maker Schoeller-Bleckmann (SBO) suffered a decline in profits in the first nine months due to a weak market environment in the United States.

The operating result (EBIT) fell by 36.8 percent to 51.8 million euros, as the Austrian company announced on Thursday. The bottom line is that profits shrank by 38.3 percent to 34.4 million euros. At 425.6 million euros, revenue remained slightly below the previous year’s level of 437.2 million euros.

The group explained that demand from the oil industry had slowed significantly compared to the previous two years. The strongly fluctuating oil price has led to a weakening of investment behavior in the USA and on international markets in recent months. The Ternitz company believes in large oil companies such as Schlumberger or Halliburton, among other things, with drill heads and drill pipes for the search for oil and gas. Order intake fell by 12.7 percent to 372.9 million euros. In the long term, the prospects for the energy sector remain positive.

(Report by Alexandra Schwarz-Goerlich, edited by Myria Mildenberger. If you have any questions, please contact our editorial team at [email protected] (for politics and economics) or [email protected] (for companies and markets) .)