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Schlumberger expects to 'materially grow' margins and cash flow in near to medium term - CEO

Schlumberger expects to 'materially grow' margins and cash flow in near to medium term - CEO
Schlumberger expects to 'materially grow' margins and cash flow in near to medium term - CEO   -   Copyright  Thomson Reuters 2021
By Reuters

DENVER – Schlumberger NV, the world’s leading oilfield service provider, expects to materially grow its margins and cashflow over the medium and short term horizons, Chief Executive Officer Olivier Le Peuch said on Wednesday.

The company expects to reach adjusted EBIDTA margins of 25%, or a 500 basis point expansion from pre-pandemic levels, over that period. It expects to continue generating double-digit free cash flow margins and restore return on capital employed to double digits in the short to medium term, Le Peuch said.