EANS-News: Q1-Q3 2016: Petro Welt Technologies AG continuously lifts
profitability
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Corporate news transmitted by euro adhoc. The issuer/originator is solely
responsible for the content of this announcement.
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Subtitle: Sales revenues in rouble increased by 3.2%, in EUR they declined by
10.4% despite Rouble depreciation of 15.1% yoy on average year basis
EBITDA margin improved from 26.5% to 28.7%
Consolidated net result raised by 22.6% to EUR 28.0 million
Equity base increased by 40.1% equity ratio at 53.9%
Strong liquidity position: managerial cash position grew from January to
September by 113% to EUR 85.8 million
Acquired Kazakh operations contribute to revenue and net profit
Positive financial performance in Q1-Q3 creates solid basis for reliable
profits generation in full 2016
quarterly report/Interim Report for the first three quarters of 2016
In the first nine months of 2016 Petro Welt Technologies AG, Vienna (formerly
C.A.T oil AG, change of name at August 23, 2016) continued the sound development
of its business operations despite the challenging environment in the industry
and improved the level of profitability significantly: The revenues in Russian
Roubles increased by 3.2% compared to the same period of previous year, revenues
in Euro decreased by 10.4%, which is less than the 15.1% depreciation of the
currency.
EBITDA margin rose to 28.7% and the equity ratio improved from 48.3% to 53.9%.
This positive development of the company is attributable to management efforts
to optimize cost of sales, to limit administrative and financial expenses, raise
synergies between the companies of PeWeTe Group and to enhance the share of
multi-stage fracturing operations. The geographical expansion of operations in
Siberia and southern Orenburg contributes to the growth as well as the
acquisition of a fracturing company in Kazakhstan in September this year.
"18 months after we assumed management control of the company we can state that
we accomplished the most important goal to reorganize the company and reach a
satisfactory profitability level under most difficult market conditions", states
Yury Semenov, CEO of Petro Welt Technologies AG and adds: "From this basis,
which we will constantly improve, we can take a chance to enter new ventures and
grow Petro Welt Technologies further under the precondition of sustainable
profitability."
Successful Acquisition
Petro Welt Technologies AG, Vienna, concluded the acquisition of the Kazakh
fracturing subsidiary of Trican Well Service Ltd., Calgary on 1 September 2016.
The acquired firm, which was renamed to Petro Welt Technologies Kazakhstan LLP,
is specialized in fracturing and actively serves a number of international and
local customers throughout Kazakhstan. The business activities of the company,
the technologies in use and the quality of the services offered are
complementary to the fracturing segment of Petro Welt Technologies in
Kazakhstan. So the deal should produce beneficial synergies for the Group. The
integration of the acquired company in the corporate structures of Petro Welt
Technologies AG will be completed by the end of the year. In September 2016,
Petro Welt Technologies Kazakhstan LLP contributed revenue of EUR 278 thousand
and a net profit of EUR 62 thousand to the business results of the Group.
Confident outlook for 2016
The positive development of the company's financial performance indicators
during the first nine months of 2016 creates a sound basis for reliable profit
generation. The management anticipates sales revenue to reach approx. EUR 295 -
300 million in 2016, and the management hopes to maintain the improved EBIT
margin at the range of 13 - 15%. In turn, this could enable the company to
outperform last year's operating results and reach a level of EUR 39 - 41
million in 2016. This forecast does not take account of potential external
economic shocks.
The full report on the first three quarters of 2016 is available for download on
our corporate website at www.catoilag.com.
Further inquiry note:
Bernhard Grabmayr
SCHOLDAN&Comp.
Bernhard Grabmayr
office@scholdan.com
+43-1-513 23 88-0
end of announcement euro adhoc
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company: Petro Welt Technologies 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
