DGAP-News

Results 2016: Petro Welt Technologies AG significantly improved its level of profitability

DGAP-News: Petro Welt Technologies AG / Key word(s): Final Results Results 2016: Petro Welt Technologies AG significantly improved its level of profitability 25.04.2017 / 07:00 The issuer is solely responsible for the content of this announcement. Results 2016: Petro Welt Technologies AG significantly improved its level of profitability

• Sales revenues converted into rouble increased by 3.4% despite price pressure from the oil majors.
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• Positive operational and economic performance created solid basis for profitability improvement.
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• EBITDA margin widened from 25.3% to 26.8%. Combined with establishment of reasonable financial limits it provided strong cash generation.
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• Managerial cash position grew from January to December by 182.1% to EUR 113.7 million.
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• Strengthening capital position: equity base increased by 60.4% - equity ratio at 55.5%.
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• Acquired Kazakhstan operations contributed to revenue and net profit.
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Vienna, April 25th, 2017 - In 2016 Petro Welt Technologies AG, Vienna (formerly C.A.T oil AG, change of name at August 23, 2016) listed on the Frankfurt Stock Exchange, significantly improved all kinds of margins. Revenues in Russian roubles increased 3.4% in 2016 compared to the same period of the previous year. This increase was mostly due to expansion of the drilling customers program and growth of revenues per job in well service segment. In euros, revenues decreased by 5.6%, which was less than the 9.5% depreciation of the rouble on the yearly average basis. Revenues in EUR for the year 2016 totaled EUR 304.4 million.

EBITDA and EBIT amounted to EUR 81.5 and 39.7 million respectively. There was also a change of revenues over performed cost of sales dynamics. In combination with limited development of administrative expenses it led to an impressive growth of EBIT margin. So even despite to the continuing RUB depreciation in annual average basis the Group demonstrated spectacular growth of EBIT and net profit in EUR by 28.3% and 25.6% respectively.