C.A.T. oil reveals guidance for FY2013
06.03.2013 | Business Wire
- Revenue target of EUR 405 to 425 million
- Expected EBITDA ranging from EUR 95 to 105 million
- FY2012 objectives confidently surpassed
- All-time high service orders and good progress in business
expansion fuels confidence in another record year
C.A.T. oil AG (O2C, ISIN: AT0000A00Y78),one of the
leading providers of oil and gas field services in Russia and
Kazakhstan, announces its guidance for the financial year 2013. The
Company expects the FY2013 revenues in the range of EUR 405 to 425
million and EBITDA ranging from EUR 95 to 105 million (based on a
rouble-to-euro exchange rate of 40). C.A.T. oil is confident about
attainability of its 2013 targets due to buoyant dynamics of the Russian
oil and gas field service market, an all-time high in the Company′s
service orders for 2013 as well as tight and efficient cost controls.
Manfred Kastner, CEO of C.A.T. oil, commented: '2012 has been a very
successful and important year in our Company′s history: Driven by high
activity levels of our customers and a favorable macroeconomic
environment in our core markets we experienced a very strong demand for
all of our services. We also successfully diversified and expanded our
business and set up high class drilling as our third core service.
Having successfully concluded the year 2012 with a busy and productive
fourth quarter, we are very confident to have more than reached the
upper end of our revenue and EBITDA guidance for the last year.?
C.A.T. oil′s 2013 targets are further supported by the successive
implementation of the Company′s 2013 investment program. In addition to
the successful set up of high class drilling in 2012, the Company
decided to extend its growth plans and invest in new sidetracking and
fracturing capacities in 2013.
Manfred Kastner added: 'We are fully on track with our next expansion
program. Two new sidetrack drilling rigs are in operations since
February and further new capacities will be successively deployed in the
field in the coming months. By early H2 we will have increased our
sidetracking and fracturing capacities by about 30% and 10%
respectively. We are well prepared to once again grow our profitable
business and expect FY2013 revenues in the range of EUR 405 to 425
million and an EBITDA ranging from EUR 95 to 105 million.?
C.A.T. oil will publish its results for Fiscal Year 2012 on 30 April
2013.
Press contact:
FTI Consulting
Thomas M. Krammer
Phone:
+49 (0)69 92037-183
Email: thomas.krammer@fticonsulting.com
or
Steffi
Fahjen
Phone: +49 (0)69 92037-115
Email: steffi.fahjen@fticonsulting.com