EQS-Adhoc

Petro Welt Technologies AG: Q1 2023 results for Petro Welt Technologies AG: Solid order and revenue development, slightly negative EBIT

EQS-Ad-hoc: Petro Welt Technologies AG / Key word(s): Quarterly / Interim Statement Petro Welt Technologies AG: Q1 2023 results for Petro Welt Technologies AG: Solid order and revenue development, slightly negative EBIT 25-May-2023 / 22:30 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.   Rising job numbers in Kazakhstan, the Groups only remaining market On a comparable basis, Group revenue increased to EUR 2.9 million EBITDA lower, but clearly positive at EUR 0.3 million (Q1 2022: EUR 7.9 million) EBIT slightly negative at EUR –0.3 million, yet significantly better than last year (Q1 2022: EUR –2.1 million Financial stability ensured despite uncertain times

Vienna, May 25, 2023

After the sale of the subsidiaries in Russia in August 2022 and the closure of operations in Oman, also completed in 2022, PeWeTe's subsidiary in Kazakhstan is the only remaining operating business unit of the PeWeTe Group. Its operations concentrate solely on the Kazakh market. Against the background of this significant reduction in the scope of business, the previous year's figures have been adjusted for comparative purposes.

According to the Word Bank, after GDP growth of 3.2% in 2022, the Kazakh economy is expected to see a moderate increase in its growth rate to 3.5% in 2023 and to 4% in 2024, led by the hydrocarbons sector as oil production is expected to rise thanks to several new projects. Inflation is expected to remain beyond the target range of 4–6% in 2023 due to elevated food prices and prices of imported intermediate goods.

Compared to the same period last year, the tenge has strengthened both on average over the reporting period and as of the reporting date. At 486.58 KZT/EUR as of March 31, 2023, the KZT/EUR exchange rate has – after a significant drop in February – almost returned to the price at the beginning of the year of 492.86 KZT/EUR. Compared to the exchange rate of 510.57 KZT/EUR as of March 31, 2022, this means an increase in value of 5%. The average exchange rate recorded an increase of the same magnitude in the first quarter compared to the same period last year (Q1 2023: 487.66 KZT/EUR; Q1 2022: 512.48 KZT/EUR).