23.02.2004 – 08:54

Schoeller-Bleckmann Oilfield Equipment AG

euro adhoc: Schoeller-Bleckmann Oilfield Equipment AG / Schoeller-Bleckmann Oilfield Equipment AG: Preliminary result 2003, proposed dividend distribution 30 cents/share in spite of difficult environment (E)

  Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.

Ternitz, February 23, 2004. Schoeller-Bleckmann Oilfield Equipment AG
(SBO), listed on the prime market of the Vienna Stock Exchange,
generated group sales worth EUR 134.2 mill. based on the preliminary
figures for 2003 (following EUR 178.6 mill. in 2002). The EBIT was
EUR 13.1 mill. (following EUR 26.1 mill. the year before). This
corresponds to an EBIT margin of 9.8 %.

Global political uncertainties, a weak economy and the resulting
curbed investment in oil production combined with high inventories of
equipment for the oilfield service industry dominated the market
environment for SBO in 2003. The approximately 20 % fall of the
US-dollar against the Euro was an additional major strain on sales
and results. Adjusted for currency fluctuations, SBO would have
generated an EBIT of around EUR 20.4 mill. in 2003.

In view of these challenging environment SBO was able to achieve a
satisfying result in 2003 and to further expand its leading market
position. The Executive Board will, therefore, suggest to the General
Meeting to distribute a basic dividend of 30 cents per share
(following a basic dividend of 30 cents plus a premium of 20 cents in
2002). Based on the closing price of EUR 8.9 in 2003 this corresponds
to a rather attractive dividend yield of 3.4 %.

Positive prospects for business development

According to the current general assessment, the global business
situation is recovering. It is in particular the recent positive
economic data from Asia and the US give rise to expectations of
growing demand for crude oil, which, in turn, should result in rising
demand for drilling equipment.

The final and detailed annual results for 2003 and an initial outlook
for 2004 will be published on March 31, 2004 in the press conference
on the financial statement.

Comparison of key figures in MEUR

~
                            Preliminary figures 2003    2002
Sales                                          134,2   178,6
EBIT                                            13,1    26,1
EBIT margin (%)                                  9,8    14,6
Profit before tax                                9,4    19,8
Consolidated group result                        6,1    11,1
EPS*                                            0,47    0,85
Headcount **                                     800     852
* based on average shares outstanding
**Reporting date December 31
~

Schoeller-Bleckmann Oilfield Equipment AG is the global market leader
for high-precision components for the oilfield service industry. The
business focus is on non-magnetic drillstring components for
directional drilling. Worldwide, SBO employs a workforce of 800 (end
of  2002: 852), currently 207 in the company headquarters at Ternitz,
Lower Austria, and 314 in Houston,Texas. The majority shareholder of
the company (approx. 64%) is Berndorf AG.

end of announcement        euro adhoc 23.02.2004

Further inquiry note:

Gerald Grohmann, Chief Executive Officer
Schoeller-Bleckmann Oilfield Equipment AG
A-2630 Ternitz, Hauptstraße 2
Tel: +43 2630/315 DW 110, Fax: DW 101
E-Mail: sboe@sbo.co.at

Mick Stempel, Hochegger|Financials
Tel.:+43 1/504 69 87 DW 85
E-Mail: m.stempel@hochegger.com

Branche: Oil & Gas - Upstream activities
ISIN: AT0000946652
WKN: 94665
Index: ATX Prime, WBI
Börsen: Wiener Börse AG / official dealing