EQS-News: SBO AG / Key word(s): Half Year Results
SBO maintains double-digit EBIT margin in a challenging market
21.08.2025 / 07:00 CET/CEST
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SBO maintains double-digit EBIT margin in a challenging market
• Sales declined due to market conditions, but remained solid at MEUR
253.6
• EBITDA at MEUR 44.5 (margin of 17.5%); EBIT of MEUR 28.6 (margin of
11.3%)
• Precision Technology (PT) continues to be impacted by low demand
• Energy Equipment (EE) with significantly improved performance
• Acquisition of 3T Additive Manufacturing Ltd. in August to further
strengthen SBO’s position in 3D metal printing
• Renaming to SBO AG successfully completed
The first half of 2025 for SBO AG, listed in the leading index ATX of the
Vienna Stock Exchange, was marked by significant market uncertainty and
subdued investment activity. SBO addressed the market challenges
proactively with targeted measures such as optimizing supply chains and
adjusting capacities. The company strengthened its market position by
expanding strategic locations in Saudi Arabia and Vietnam and made
progress in new business areas such as geothermal energy and carbon
capture & storage. In the area of additive manufacturing for high-end
industries, SBO entered into an agreement to acquire 3T Additive
Manufacturing Ltd. on 19 August 2025. On 1 July 2025, the legal name
change from SCHOELLER-BLECKMANN OILFIELD EQUIPMENT Aktiengesellschaft to
SBO AG was completed. Despite the challenging environment, which was
visible in the financial performance, SBO continued to achieve
double-digit operating margins.
Bookings of MEUR 216.9 1 (1–6/2024: MEUR 248.7) and the Group’s order
backlog, which stood at MEUR 103.3 at the end of June (31 December 2024:
MEUR 141.8), reflect the sustained decline in customer spending. SBO’s
sales reached a solid MEUR 253.6 in the first half of the year (1–6/2024:
MEUR 288.1), with the drop in sales in the Precision Technology (PT)
division (-31.2%) partially offset by the positive development in the
Energy Equipment (EE) division (+11.0%).
Earnings before interest, taxes, depreciation and amortization (EBITDA)
amounted to MEUR 44.5 and, despite the decline in sales, remained largely
stable at a margin of 17.5% (1–6/2024: MEUR 53.1, 18.4%), as the lower
capacity utilization in the PT division was mostly offset by a significant
improvement in earnings in the EE division. Profit from operations (EBIT)
amounted to MEUR 28.6 with a margin of 11.3% (1–6/2024: MEUR 36.6, 12.7%).
Profit before tax totaled MEUR 26.0 compared to MEUR 33.8 last year.
Profit after tax reached MEUR 18.5 (1-6/2024: MEUR 25.0), resulting in EUR
1.18 earnings per share (1-6/2024: EUR 1.58).
CEO Klaus Mader on the developments of the year so far: “Despite a
significantly slower market, we kept SBO firmly on track in the first half
of 2025. We are managing this situation with cost discipline and remain
focused on our strategic initiatives.”
Segments
The SBO Group’s business is divided into two segments: Precision
Technology (PT) and Energy Equipment (EE). The Precision Technology
division continued to be affected by an uncertain market environment and
declining customer demand in the first half of 2025. Sales declined by
31.2% to MEUR 107.6 (1–6/2024: MEUR 156.5), which affected operating
results notably: EBITDA decreased to MEUR 22.4 (1–6/2024: MEUR 40.6),
albeit at a high EBITDA margin of 20.8% (1–6/2024: 26.0%). EBIT halved
year-on-year in absolute terms to MEUR 16.4 (1–6/2024: MEUR 35.6) but
remained at a solid margin of 15.3% (1-6/2024: 22.8%). SBO responded to
the decline in demand with a decisive adjustment of capacities and cost
structures, while securing core competencies and pursuing strategic
initiatives.
The Energy Equipment division significantly improved its performance in
the first half of 2025, despite the continuing downward trend in drilling
and completion activities in the US. Supported by positive demand for
SBO’s technological innovations especially in the well completions area
and the international market expansion measures taken, the business
generated 11.0% growth with sales increasing to MEUR 146.0 (1–6/2024: MEUR
131.6). Operating results also improved significantly compared to the same
period last year, which was affected by some non-recurring items. EBITDA
almost doubled to MEUR 25.6 (1–6/2024: MEUR 13.5), and the EBITDA margin
improved to 17.6% (1–6/2024: 10.2%). EBIT rose to MEUR 16.0 (1–6/2024:
MEUR 2.2) with an EBIT margin of 10.9% (1–6/2024: 1.7%).
Cash flow and balance sheet remain solid
SBO generated an operating cash flow of MEUR 37.1 (1-6/2024: MEUR42.2) and
free cash flow of MEUR 18.4 (1-6/2024: MEUR 27.7), both impacted by lower
earnings. Capital expenditure for property, plant and equipment and
intangible assets (excluding right of use assets) totaled MEUR 19.7
(1-6/2024: MEUR 16.7), including investments in the facility expansions in
the Middle East and Vietnam.
The company’s cash and cash equivalents amounted to MEUR 278.9 as of 30
June 2025 (31 December 2024: MEUR 314.7). In addition to the dividend
payment of MEUR 27.6 the decline in cash balance was driven by unfavorable
effects of exchange rate changes (MEUR 13.9) mainly due to the weakening
of the US dollar. Equity stood at MEUR 418.6 as of 30 June 2025 (31
December 2024: MEUR 492.7), impacted by MEUR 65.1 unfavorable currency
translation effects. This resulted in an equity ratio of 47.0% (31
December 2024: 50.0%).
Net debt increased to MEUR 82.3 (31 December 2024: MEUR 56.0), also
impacted by the weak US dollar. As a result, the gearing ratio stood at
19.7% (31 December 2024: 11.4%). SBO’s high cash position and financial
stability provide a solid foundation for the execution of its growth
strategy.
Outlook
The latest US trade agreements have brought some clarity, but uncertainty
in global trade policies continues to weigh on demand. Persistently low
commodity prices and the concern of a potential oversupply in the oil
market lead to continued investment restraint. The resulting slowdown in
the industry is now clearly evident.
Against this backdrop, SBO expects demand in the Precision Technology (PT)
division to remain subdued in the second half of the year. SBO will
therefore continue to focus on strict cost discipline and capacity
adjustments in this division in order to actively navigate the current
developments. At the same time, SBO will drive the expansion of
forward-looking business areas such as additive manufacturing, which will
gain in importance in SBO’s mid- to long-term business development.
In the Energy Equipment (EE) division, SBO expects to perform better than
the overall market. Although the decline in drilling and completion
activities in the US is weighing on the business, SBO expects to benefit
from the successful market introduction of technological innovations. By
advancing technological leadership and optimizing operational efficiency,
SBO is actively pursuing market share growth. In international markets,
positive momentum continues due to market expansion measures taken.
Despite the current market headwinds, SBO is well positioned for the long
term to take advantage of future market opportunities. The rising global
energy demand and the implementation of SBO’s strategy – from market
expansion and technology leadership to diversification into new business
areas – create attractive growth opportunities. At the same time, SBO is
further optimizing its operational setup to enhance customer proximity,
accelerate time-to-market, and fully leverage the strengths of our global
footprint.
Strategic acquisition to further strengthen SBO’s position in 3D metal
printing
As part of its strategic diversification, SBO took another important step
in August 2025: with the agreement to acquire 3T Additive Manufacturing
Ltd., a leading UK provider of industrial 3D metal printing solutions, SBO
is driving the expansion of its position in this attractive niche market.
3T Additive Manufacturing Ltd. operates a fully integrated production
facility, serves an international customer base across various high-tech
industries, and in 2024 generated sales of around MGBP 5. Through the
acquisition, SBO gains access to established customer relationships,
modern production infrastructure, and a highly qualified team, enabling it
to further accelerate its growth strategy in the field of additive
manufacturing. This acquisition underscores SBO’s clear commitment to
investing in forward-looking markets and demonstrates its ability to
successfully execute its long-term strategic initiatives. Completion of
the transaction remains subject to regulatory approvals.
CEO Klaus Mader concludes: “We are successfully driving forward
technological innovations, diversifying our business, and capitalizing on
market opportunities – even in a demanding environment. Thanks to our
strong financial position and our global locations we are well positioned,
and we execute on our strategy, as also demonstrated by our acquisition of
3T Additive Manufacturing Ltd.”
More information in SBO’s half-year report: (1)Half-year reports
SBO’s key performance indicators at a glance
UNIT 1 – 6/2025 1 – 6/2024
Sales MEUR 253.6 288.1
EBITDA (Earnings before interest, taxes, MEUR 44.5 53.1
depreciation, and amortization)
EBITDA margin % 17.5 18.4
EBIT (Earnings before interest and taxes) MEUR 28.6 36.6
EBIT margin % 11.3 12.7
Profit before tax MEUR 26.0 33.8
Profit after tax MEUR 18.5 25.0
Cash flow from operating activities MEUR 37.1 42.2
Free cash flow MEUR 18.4 27.7
Liquid funds as of 30/06/2025 / 31/12/2024 MEUR 278.9 314.7
Net debt as of 30/06/2025 / 31/12/2024 MEUR 82.3 56.0
Equity ratio as of 30/06/2025 / 31/12/2024 % 47.0 50.0
Headcount as of 30/06/2025 / 31/12/2024 1,526 1,596
About SBO
SBO AG is leading in the manufacture of high-alloy, non-magnetic steels,
high-precision components and high-tech equipment for the energy sector
and other industrial sectors. The global precision technology group,
headquartered in Ternitz, Austria, operates worldwide at more than 20
locations with around 1,500 employees. The group delivers cutting-edge
technologies backed by a highly innovative product portfolio and strong
intellectual property. In its Precision Technology division, SBO
specializes in high-precision metal components, ranging from complex steel
parts to additive manufacturing solutions for industries requiring maximum
accuracy and performance. In the Energy Equipment division, SBO provides
high-tech equipment for directional drilling and well completion including
high-precision flow control products. Designed for extreme conditions,
these solutions perform in high-temperature and high-pressure
environments, serving important industries including oil and gas, energy
and other industrial sectors. SBO is listed in the leading index ATX of
the Vienna Stock Exchange (ISIN AT0000946652). More information:
(2)www.sbo.at
Contact:
Monika Bell, Head of Investor Relations
phone: +43 2630 315-253
email: (3)investor.relations@sbo.at
(4)media.relations@sbo.at
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21.08.2025 CET/CEST This Corporate News was distributed by EQS Group.
www.eqs.com
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Language: English
Company: SBO AG
Hauptstrasse 2
2630 Ternitz
Austria
Phone: +43 (0)2630/315110
E-mail: info@sbo.at
Internet: http://www.sbo.at
ISIN: AT0000946652
Indices: ATX
Listed: Vienna Stock Exchange (Official Market)
EQS News ID: 2185804
End of News EQS News Service
2185804 21.08.2025 CET/CEST
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