EANS-News
C.A.T. oil AG / Business model verified - record operational and financial results in full year 2013
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Corporate news transmitted by euro adhoc. The issuer/originator is solely
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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: • Revenues increased by more than one fourth yoy to EUR
426.6 million
• EBITDA up 43.6% yoy to EUR 114.9 million – efficiency gains boost
EBITDA margin by 3.1 percentage points to 26.9%
• Net income surged by more than 140% yoy to EUR 50.8 million
• Proposed dividend of EUR 0.35 per share, up 40% from the previous
year level
• Outlook 2014: revenues in the range of EUR 420 to 450 million and
EBITDA from EUR 113 to 121 million based on the underlying assumption
of more than 10% yoy rouble devaluation
• CEO Manfred Kastner: “Our strong numbers in 2013 underscore the
first year of all our core services, fracturing, sidetracking and
drilling, in full operation, and clearly confirm our strategy of
focusing on efficiency and portfolio optimization.”
annual result
Vienna (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, delivered superior operating and financial
results in 2013: C.A.T. oil boosted its revenues by more than one
fourth yoy to EUR 426.6 million (2012: EUR 336.8 million) and
EBITDA by 43.6% yoy to EUR 114.9 million (2012: EUR 80.0 million)
as the EBITDA margin widened by 3.1 percentage points to 26.9%
(2012: 23.8%). Net income surged by more than 140% yoy to EUR 50.8
million (2012: EUR 21.0 million). Along with sound top- and
bottom-line growth C.A.T. oil rolled-out and accomplished its
2013 investment program to reinforce its operating platform and
pave the way for further business expansion. Despite the elevated
geopolitical and macroeconomic uncertainties C.A.T. oil stays firmly
adhered to its profitable growth strategies residing upon its
high-class service offering tailored to the needs of the Russian
oil industry.
Manfred Kastner, CEO of C.A.T. oil, commented: "We look back at
yet another exciting year following the successful implementation
of the new drilling service in 2012. Our strong results in 2013
underscore the first year of all our core services, fracturing,
sidetracking and drilling, in full operation, and clearly confirm
our strategy of focusing on efficiency and portfolio
optimization. Having surpassed our bottom-line targets, we revealed
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