Schoeller-Bleckmann Says New Orders Weakened in Third Quarter

Schoeller-Bleckmann Oilfield Equipment AG (SBO), a producer of gear to extract oil from hard-to- reach places, said third-quarter new orders weakened and clients may turn “temporarily cautious.”

The order backlog fell 9 percent to 190.3 million euros ($243 million) in the three months to September, the Ternitz, Austria-based company said today in a report. New orders “slightly diminished” in the period, Schoeller-Bleckmann said.

“Given customers’ overly optimistic ordering behavior in the first half of 2012 and the still unclear outlook for further global economic development, a temporarily cautious spending policy” of its customers “has to be taken into account,” Schoeller-Bleckmann said.

Net income increased 46 percent to 19.65 million euros in the period, up from 13.65 million euros a year earlier, according to the producer.

Schoeller-Bleckmann fell as much as 2 percent in Vienna trading and was 1.2 percent lower at 72.39 euros by 9:14 a.m. That cut the stock’s gain this year to 5 percent.

The company had said in August that third-quarter orders were “strong” after reporting record profit and sales in the first half.

Schoeller-Bleckmann makes directional-drilling equipment to extract crude on land and under water, and has benefited from higher oil prices that justify bigger investments into production in places that require more elaborate technology.

To contact the reporter on this story: Boris Groendahl in Vienna at bgroendahl@bloomberg.net

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net

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