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Subtitle: Revenue target of EUR 405 to 425 million
Expected EBITDA ranging from EUR 95 to 105 million
FY2012 objectives confidently surpassed
All-time high service orders and good progress in business expansion fuels
confidence in another record year
Earnings Forecast
Vienna, 6 March 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,
announces its guidance for the financial year 2013. The Company expects the
FY2013 revenues in the range of EUR 405 to 425 million and EBITDA ranging from
EUR 95 to 105 million (based on a rouble-to-euro exchange rate of 40). C.A.T.
oil is confident about attainability of its 2013 targets due to buoyant dynamics
of the Russian oil and gas field service market, an all-time high in the
Company's service orders for 2013 as well as tight and efficient cost controls.
Manfred Kastner, CEO of C.A.T. oil, commented: "2012 has been a very successful
and important year in our Company's history: Driven by high activity levels of
our customers and a favorable macroeconomic environment in our core markets we
experienced a very strong demand for all of our services. We also successfully
diversified and expanded our business and set up high class drilling as our
third core service. Having successfully concluded the year 2012 with a busy and
productive fourth quarter, we are very confident to have more than reached the
upper end of our revenue and EBITDA guidance for the last year."
C.A.T. oil's 2013 targets are further supported by the successive implementation
of the Company's 2013 investment program. In addition to the successful set up
of high class drilling in 2012, the Company decided to extend its growth plans
and invest in new sidetracking and fracturing capacities in 2013.
Manfred Kastner added: "We are fully on track with our next expansion program.
Two new sidetrack drilling rigs are in operations since February and further new
capacities will be successively deployed in the field in the coming months. By
early H2 we will have increased our sidetracking and fracturing capacities by
about 30% and 10% respectively. We are well prepared to once again grow our
profitable business and expect FY2013 revenues in the range of EUR 405 to 425
million and an EBITDA ranging from EUR 95 to 105 million."
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
