VIENNA--()--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.