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C.A.T. oil AG / Business model verified - record operational and financial results in full year 2013 - Seite 4
dividend policy's minimum payout of 20%.
Confident outlook despite geopolitical uncertainties
Based upon encouraging industry trends and healthy demand for C.A.T.
oil's high- class services, the management looks ahead at the
current Fiscal Year with confidence and optimism. Despite
Russia's economic growth slows down and geopolitical tensions
over the Crimean crisis aggravate the Russian currency weakness
relative to the euro, the demand growth for oilfield services
in Russia remains robust in 2014.
Supportive operating environment has become evident in the Company's
order book development for 2014 and beyond. As of the end of April,
C.A.T. oil's rouble- denominated service orders were up 27% yoy for
2014 and 71% yoy for 2014-16. In euro terms, though, the order book
increased only 6% yoy to EUR 415 million for 2014 from EUR 392
million a year ago and 42% yoy to EUR 754 million for 2014-16 from
EUR 530 million a year ago. The underlying assumption for the
average rouble-to-euro exchange rate is 48 for 2014 and 2014-16
compared to the exchange rate of 40 a year ago.
Against the backdrop of the record order book, C.A.T. oil expects
the FY2014 revenues in the range of EUR 420 to 450 million and
EBITDA ranging from EUR 113 to 121 million (based on the average
rouble-to-euro exchange rate of 48).
C.A.T. oil reiterates its 2014-16 investment program of EUR 390
million aiming at expansion of operating capacities by 33%
for fracturing, 55% for sidetracking and 170% for drilling by
the end of 2016 compared to the end of 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 independent oil and gas
field service contractors in Russia and Kazakhstan and is listed
on the Frankfurt Stock Exchange (SDAX). C.A.T. oil provides a
range of high quality services, which enable oil and gas
producers to extend lifecycle of their fields or bring yet
unexploited oil and gas reserves to production.
Since its foundation in 1991 in Celle, Germany, C.A.T. oil has
built up a leading hydraulic fracturing service, a very
effective method of well stimulation by cracking rock formations
with pressurized fluids, in Russia and Kazakhstan. Following its
IPO in 2006, the Company developed a second core service of
the FY2014 revenues in the range of EUR 420 to 450 million and
EBITDA ranging from EUR 113 to 121 million (based on the average
rouble-to-euro exchange rate of 48).
C.A.T. oil reiterates its 2014-16 investment program of EUR 390
million aiming at expansion of operating capacities by 33%
for fracturing, 55% for sidetracking and 170% for drilling by
the end of 2016 compared to the end of 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 independent oil and gas
field service contractors in Russia and Kazakhstan and is listed
on the Frankfurt Stock Exchange (SDAX). C.A.T. oil provides a
range of high quality services, which enable oil and gas
producers to extend lifecycle of their fields or bring yet
unexploited oil and gas reserves to production.
Since its foundation in 1991 in Celle, Germany, C.A.T. oil has
built up a leading hydraulic fracturing service, a very
effective method of well stimulation by cracking rock formations
with pressurized fluids, in Russia and Kazakhstan. Following its
IPO in 2006, the Company developed a second core service of
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