C.A.T. oil AG

euro adhoc: C.A.T. oil AG
quarterly or semiannual financial statement
C.A.T. oil AG reports significant increase in first quarter revenues and earnings

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Baden/Vienna, May 29, 2006 - C.A.T. oil AG (O2C, ISIN: AT0000A00Y78), one of the leading providers of oilfield services in Russia and Kazakhstan, achieved successful revenue growth and improved its earnings during the first quarter of 2006. Despite the loss of an above-average number of workdays due to the very cold winter, the company saw group sales grow 19.4% to EUR 37.6 million (previous year: 31.5 million). The company’s EBITDA rose 45.2% to EUR 10.0 million (previous year: EUR 6.9 million). The EBIT increased 67.5% during the reporting period to EUR 8.0 million (previous year: EUR 4.8 million), and the EBIT margin grew from 15.1% for the previous year’s first quarter to 21.2%.

The positive development of business is also reflected in the company’s earnings after taxes. C.A.T.oil saw its quarterly net profit adjusted for minority stakes rise from EUR 3.5 million for the first quarter of 2005 to EUR 5.3 million for the reporting period. This corresponds to an increase of more than 50%. Earnings per share were EUR 0.13.

Group sales for the first quarter of each year are usually below the quarterly average for the entire year as the result of seasonal weather conditions in Russia and Kazakhstan. This year the temperatures in regions where C.A.T.oil operates were sometimes under minus 50 degrees Celsius; fracturing and workover cannot be performed at temperatures of less than minus 35 degrees. As a result 20 workdays were lost on some wells in January, or 15 workdays more than during the first quarter of the previous year. The number of fracturing jobs in February and in particular a new record for performed fracturing jobs in March went a long way in compensating for these lost workdays. The efficiency of fracturing operations also improved during the first quarter thanks to consequent cost and process management throughout the group. Acquisitions included a used fracturing fleet purchased during the first quarter. This fleet is currently being overhauled and is expected to begin generating additional sales during the third quarter of 2006.

Further information is available on the website of the Company: www.catoilag.com

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ots Originaltext: C.A.T. oil AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:
A&B Financial Dynamics
Dr. Lutz Golsch
phone +49 69 92037-110

Branche: Oil & Gas - Upstream activities
ISIN:      AT0000A00Y78
WKN:        A0IKWU
Börsen:  Frankfurter Wertpapierbörse / official dealing

Original-Content von: C.A.T. oil AG, übermittelt durch news aktuell

Weitere Meldungen: C.A.T. oil AG

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