DGAP-Adhoc

Petro Welt Technologies AG: Revenue forecast reduced

DGAP-Ad-hoc: Petro Welt Technologies AG / Key word(s): Development of Sales Petro Welt Technologies AG: Revenue forecast reduced 12-Nov-2020 / 17:00 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. Vienna, November 12, 2020 The major impact of COVID-19 on the economy has led to a reduction in the demand for oil products. As a result, Petro Welt Technologies AG has further reduced its forecast of the expected revenues for the fiscal year 2020 to EUR 255-260 million, based on an average exchange rate of RUB 92 per euro to be expected in the fourth quarter of 2020. A reduction of operations is particularly significant in hydraulic fracturing. The Group has taken strong action to reduce costs and improve the efficiency of operations. Due to these measures, the Group projects an EBITDA margin of 16% for 2020.

About Petro Welt Technologies AG
Petro Welt Technologies AG, which is domiciled in Vienna is one of the leading and first established OFS companies in Russia and the CIS and is specialized in services which increase the productivity of new as well as existing oil & gas formations.

Contact
Konstantin Huber (be.public)
Investor Relations
T: [phone]
[e-mail]

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12-Nov-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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Language:	English
Company:	Petro Welt Technologies AG
	Kärntner Ring 11-13
	1010 Vienna
	Austria
Phone:	[phone]
Fax:	[phone]
E-mail:	[e-mail]
Internet:	www.pewete.com
ISIN:	AT0000A00Y78
Listed:	Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID:	1147835

End of Announcement	DGAP News Service

1147835  12-Nov-2020 CET/CEST