SBO 4Q 19 - Final results in line with prelim, 2019 DPS reconfirmed
The final financial results did not deviate from the preliminaries, which were published in January. Both segments, AM&S (Advanced Manufacturing&Services) and OFE (Oilfield Equipment) showed lower qoq revenues of 9% and 10%, respectively. SBO stopped publishing the operating margins by segment. Due to lower revenues and price pressure, we would expect weaker operating margins in both segments. Booking and order backlog decreased in 4Q 19 qoq by 30% and 6%, respectively, which hints to a more cautious stance of the market when it comes to spending capex on oil/gas fields development.Schoeller-Bleckmann Oilfield Equipment is engaged as a producer of high precision components and a supplier of oilfield equipment for the oilfield service industry. Co. focuses on non-magnetic drillstring components (non-magnetic drill collars) and downhole tools for drilling and completing directional and horizontal wells. The High Precision Components segment consists of the manufacturing of MWD (Measuring While Drilling) and LWD (Logging While Drilling) precision drillstring components. The Oilfield Equipment segment comprises production and distribution of non-magnetic drill collars, drilling motors and tools for downhole circulation applications, repair and maintenance services.
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