Group revenue in euros declined by 5.2%, driven mainly by sharp reductions in fracturing activities. Thanks to very positive developments in the Drilling and Sidetracking segment, Group EBIT rose by 21.5% to EUR 17.9 million. Net financial income climbed by 28.1% to EUR 4.7 million thanks to the revaluation of the Group's hard currency assets in [...]
HY1 2020 results of Petro Welt Technologies AG: Improvements in operations and efficiency despite volatile economic and industrial environment Revenue expressed in euros and rubles, respectively, grew by 12.5% and 16.4%. Successful optimization of both the cost of sales and administrative expenses, combined with the growth in revenue, led to an [...]
Petro Welt Technologies AG: Revenue and profit indicators in HY1 2020 overperforms the level of the same period of the previous year - but uncertainties remain Vienna, August 18, 2020 In the first half of 2020, the Group revenue of Petro Welt Technologies AG amounted to EUR 154.0 million, up by 12.5% compared to EUR 136.9 million in the same period [...]
Vienna, June 5, 2020 On June 3, 2020 the audited stand-alone and consolidated financial statements of Petro Welt Technologies AG were approved by resolution of the company's Supervisory Board. Following a recommendation of the Management Board the Supervisory Board also decided not to recommend a distribution of profits but to carry profits forward [...]
Revenue grew by 36.4% from EUR 62.2 million to EUR 84.8 million Gross profit more than doubled to EUR 14.1 million EBITDA was 77.1% higher at EUR 16.5 million Net profit was up more than tenfold Total assets decreased by 14.2%, equity by 22.0% Vienna, June 3, 2020 Fueled by rising job numbers in both the Well Services and Stimulation and the [...]
In 2019, Group revenue increased by 6.0% in RUB and by 8.1% in EUR. EBITDA declined by 13.1% from EUR 52.5 million to EUR 45.6 million. The consolidated net profit dropped by 50.0% from EUR 10.8 million to EUR 5.4 million. Debt restructuring measures improved PeWeTe's financial sustainability in 2019: The equity ratio rose by 2.4 percentage points [...]
Strong market position in niche segments and well-invested modern asset base Sufficient financial buffer to withstand market downturn Company outlook remains stable Rating is limited by company's small size compared with its global peers, its concentrated customer base and intensifying pricing pressure and exposure to the Russian market Vienna, May [...]
Issuer: Petro Welt Technologies AG Key word: Finance 28.05.2020 Dissemination of a Press Release, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at [...]
PRESS RELEASE Petro Welt Technologies AG Q1-Q3/2019 Results: Improved efficiency supports further growth Revenue grew 1% year on year in the first three quarters of 2019 Q3/2019 operational and financial results outperformed Q3/2018 Share of Wellprop export supplies increased to 20% Administrative costs reduced by 9.2% year on year Total assets [...]
PRESS RELEASE HY1/2019 Results of Petro Welt Technologies AG: Improvements in the efficiency per drilling job despite lower revenue, better cash generation - The revenue in the Drilling, Sidetracking, and Integrated Project Management segment rose by 13% or EUR 7.8 million to a total of EUR 67.8 million and the operating result increased by 31 [...]
Petro Welt Technologies AG is recognized as a leader in Mobile Drilling operations and Well Stimulation. On 5 August 2019, Petro Welt Technologies AG finalized the registration of its new local business entity PEWETE EVO SERVICES LLC in Muscat, which is to provide the company's services in the Sultanate of Oman. Based on the experience acquired [...]
Strong market position in its niche segments. Well-invested asset base, robust credit metrics and sound liquidity provide the company with sufficient flexibility. Rating is limited by company's small size compared with its global peers, its concentrated customer base and intensifying price pressure. Vienna, May 31, 2019 - Moody's Investors Service [...]
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