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VIENNA, May 20 (Reuters) - Austrian oilfield equipment producer Schoeller-Bleckmann (SBO) said on Wednesday its operating profit fell 40% in the first quarter as the coronavirus sent shockwaves through the energy sector and slowed global production significantly.
Earnings before interest and tax (EBIT) fell to 12.1 million euros ($13.25 million) on sales of 108.9 million euros, sbotop the group said.
SBO, which builds highly specialised oilfield exploration equipment for energy companies, said it had halved its net debt compared to end-2019 to 9.1 million euros.
($1 = 0.9135 euros) (Reporting by Kirsti Knolle Editing by Michelle Martin)
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