Image: Christian Jungwirth
Sales rose by around a third to EUR 294.7 million. The company also recorded an increase in incoming orders of ten percent to EUR 299.2 million. The operating result (EBIT) rose by 24 percent to 55.4 million euros compared to the same period of the previous year, according to a press release from the company. This gives SBO an EBIT margin of 20.7 percent.
Earnings before taxes rose by 31.3 percent to EUR 56 million. The bottom line was 43.1 million euros – 25.3 percent more than a year ago.
Both segments grew: In the area “Advanced Manufacturing & Services” (AMS), such as high-precision parts for aerospace customers, SBO achieved sales of 162.7 million euros, after 108.9 million in the same period of the previous year. EBIT rose from 22 to 35 million euros. with the area “Oil field equipment” (oil field) – the classic business area of SBO – the company turned over 131.9 million euros, after 113.8 million euros in the first six months of 2022. EBIT increased here from 20 to 24 million euros.
Outlook quite positive
SBO CEO Gerald Grohmann commented that the outlook for the coming months is quite positive: “Market conditions remain supportive and we are well positioned to take advantage of this environment. As such, we are on track to deliver another strong 2023.”
For the current fiscal year, global exploration and production spending on the oil and gas markets is expected to increase by 11 percent. It can be assumed that the ordering behavior of the major customers will normalize and that the North American markets will flatten out.
By taking over the Practice Completion Technology by the end of the year, SBO intends to strengthen its position in the Middle East. In addition, the structure of the segment “NewEnergy” planned to advance future energy solutions – with a focus on hydrogen. After all, SBO plans to generate around half of its sales with energy technology in the future.
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