EANS-News: C.A.T. oil achieves all-time high in its order book
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Subtitle: Order book volume of EUR 392 million for 2013 exceeds previous
years level by 47%
Increased mid-term revenue visibility through the 2013-15 total orders worth
EUR 530 million
Additional orders expected later in the year
Company Information
Vienna, 30 January 2013 (euro adhoc) - C.A.T. oil AG (O2C, ISIN: AT0000A00Y78),
one of the leading providers of oil and gas field services in Russia and
Kazakhstan, has successfully accomplished its 2013 tendering campaign: As of 30
January - and thus way ahead of the routine schedule - the Company's order book
for 2013 reached a new historic high of EUR 392 million (based on a
rouble-to-euro exchange rate of 40). This represents an increase of 47% compared
to the same period last year and includes orders for hydraulic fracturing,
sidetracking and high class drilling services. In addition to the tenders for
2013, C.A.T. oil has already received further assignments for 2014 and 2015.
With the total order book volume of EUR 530 million for the next three years
C.A.T. oil has thus built up a sound foundation that enables mid-term revenue
visibility and planning reliability for the upcoming years.
Manfred Kastner, CEO of C.A.T. oil, commented: "We are very proud of the
Company's 2013 tendering campaign: With the early achieved all-time high in
service orders, which are up 47% compared to 2012, we have demonstrated our
ability of being not only fast but also very efficient in marketing our
services. Based on our experience, we expect the current orders worth EUR 392
million to represent about 90% to 95% of revenues for the full year 2013 and we
are confident about getting additional orders in the course of the year."
The accomplished tendering campaign stands out from previous campaigns in two
particular respects: The Company's capacity has not only been marketed faster
than ever before but also, and even more importantly, the time horizon for the
orders has extended to a period of three years.
Manfred Kastner added: "Our success in the 2013 tendering campaign underpins two
important facts. It demonstrates our ability to read the market and anticipate
our customers' needs. But it also shows our customers' confidence in favorable
macroeconomic environment and promising business opportunities in our core
markets, Russia and Kazakhstan. We are well positioned for another year of
growth in our Company's history and by building upon the achieved revenue
visibility and planning reliability will further strengthen our competitive
advantage."
C.A.T. oil will publish its results for Fiscal Year 2012 on 30 April 2013.
www.catoilag.com
Press contact:
FTI Consulting
Thomas M. Krammer
Phone: +49 (0)69 92037-183
Email: thomas.krammer@fticonsulting.com
Steffi Fahjen
Phone: +49 (0)69 92037-115
Email: steffi.fahjen@fticonsulting.com
About C.A.T. oil AG
C.A.T. oil AG is one of the leading providers of oil and gas field services in
Russia and Kazakhstan and is listed on the Frankfurt Stock Exchange (SDAX).
C.A.T. oil offers a wide spectrum of services to increase the lifecycle of an
oil field or to make unexploited oil fields accessible. The Company's growth is
driven by the following factors: Existing oil fields need to be stimulated due
to shrinking oil and gas resources in order to optimize capacities.
Simultaneously, idle wells are reactivated or made accessible through new
methods in order to deploy wells to their maximum. Additionally, C.A.T. oil has
established high class drilling as third core service which allows to access
completely unexploited oil and gas reserves.
Since its foundation in 1991 in Celle, Germany, C.A.T. oil has built up a
leading hydraulic fracturing services business in Russia and Kazakhstan.
Following its IPO in 2006 the Company has invested more than EUR 250 million in
additional services and capacities: Sidetrack drilling has become the Company's
second core business. In 2011, the Company initiated a comprehensive investment
program with a volume of EUR 150 million, focusing on the set up of high class
drilling as third core service offering. The new service line was fully
installed in 2012.
C.A.T. oil's portfolio also includes cementing and seismic services. With its
state-of-the-art technology the Company clearly differentiates itself in its
core markets as the equipment allows for very time-efficient and effective
deployment. C.A.T. oil's customer base includes the leading Russian and Kazakh
oil and gas producers amongst them Gazprom, KazMunaiGaz, LUKOIL, Rosneft and
TNK-BP. C.A.T. oil has a long-standing relationship with these customers and has
been a reliable service provider since its market entrance in the early
nineties.
The Company has its headquarters in Vienna. In 9M 2012, the Company employed an
average of 2,469 people, most of which are based in Russia and Kazakhstan.
Further inquiry note:
Thomas Krammer
Tel: +49(0)69-92037-183
Email: thomas.krammer@fticonsulting.com
end of announcement euro adhoc
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company: C.A.T. oil AG
Kärtner Ring 11-13
A-A-1010 Wien
phone: +43(0) 1 535 23 20 - 0
FAX: +43(0) 1 535 23 20 - 20
mail: ir@catoilag.com
WWW: http://www.catoilag.com
sector: Oil & Gas - Upstream activities
ISIN: AT0000A00Y78
indexes: SDAX, Classic All Share, Prime All Share
stockmarkets: regulated dealing/prime standard: Frankfurt
language: English
