EANS-Adhoc: C.A.T. oil AG's 2015 order book currently stands at EUR 234 million
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ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
adhoc with the aim of a Europe-wide distribution. The issuer is solely
responsible for the content of this announcement.
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other
10.02.2015
Vienna, 10 February 2015 - C.A.T. oil AG (O2C, ISIN: AT0000A00Y78), the provider
of oil and gas field services in Russia and Kazakhstan, informs about the 2015
tendering campaign: despite the difficult macroeconomic environment in its core
markets and the weak oil price the Company has successfully placed more than 90%
of its fracking capacities, around 75% of its drilling capacities and 50% of its
sidetracking capacities with customers.
As of 10 February C.A.T. oil's 2015 order book stands at EUR 234 million (based
on a rouble-to-euro exchange rate of 75) compared to EUR 408 million one year
ago (based on a rouble-to-euro exchange rate of 47). The decline of 43% yoy in
euro terms is primarily attributable to the strong rouble devaluation against
the euro. In rouble terms the 2015 order book declined by 9% which reflects in
particular the suspension of sidetracking operations in Western Siberia by a
major customer and the more conservative budget planning process of C.A.T. oil's
customers in general.
The Company's 2015-2017 total order book level stands at EUR 299 million (based
on a rouble-to-euro exchange rate of 75) as of 10 February 2015. This represents
a decrease of 60% yoy compared to the 2014-2016 order book which amounted to EUR
754 million (based on a rouble-to-euro exchange rate of 47) and represented an
all-time high. The development again reflects the negative currency effects, the
lower share of sidetracking orders and a reduced share of longer-term service
orders. While last year 46% of the total orders exceeded a 12 month period, the
current level of orders which exceed a 12 month period amounts to 22%.
C.A.T. oil will continue to market its remaining free capacities with customers
over the next weeks and months.
End of Ad hoc-Release
Further inquiry note:
Carolin Amann Tel: +49(0)69-92037-132 Email: carolin.amann@fticonsulting.com
Steffi Susan Kim Tel: +49(0)69-92037-115 Email: steffi.kim@fticonsulting.com
end of announcement euro adhoc
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issuer: C.A.T. oil AG
Kärntner Ring 11-13
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
