ANNOUNCEMENT concerning the availability of 2Q 2022 Report
In the first half of this year, the upstream market continued to be volatile, with a low level of new investment and works from our main customers. Moreover, the geopolitical context and the uncertainty facing the region during this period triggered a sharp increase in purchase prices for goods and services contracted by the Company for current activities, but also a fluctuation in delivery times.
Although in 2022 we expect the market to be still volatile, with a low level of new investment from our main customers, we estimate the Company's flexibility in terms of the type of services provided, along with a strong financial position, including cash and cash equivalents, will allow the operational activity to register a level similar to the one recorded in 2021.
Thus, in the second quarter of this year, the Company managed to win following a public tender organized by OMV Petrom a contract for the provision of work over cementing services, with an estimated value of approximately EUR 3,48 million and a duration of 4 years.
The Company continued in 2Q 2022 to manage all its commitments in conditions of financial equilibrium, ensuring all cash availabilities for full and timely payment of commercial commitments, salaries and state budget obligations.
|
RON |
|
|
|
|
|
|
|
Q II 2022 |
Q II 2021 |
Q I 2022 |
H1 2022 |
H2 2021 |
|
Operating income, of which: |
11,888,255 |
10,654,065 |
11,403,127 |
23,291,382 |
22,913,067 |
|
Rendered services |
11,679,189 |
10,338,135 |
11,288,515 |
22,967,704 |
22,284,069 |
|
Operating expenses |
(11,885,744) |
(10,832,091) |
(12,909,004) |
(24,794,748) |
(22,614,897) |
|
Operating result |
2,511 |
(178,026) |
(1,505,877) |
(1,503,366) |
298,170 |
|
EBITDA *) |
789,803 |
590,138 |
(443,764) |
346,039 |
2,067,396 |
|
Net financial income |
301,760 |
575,742 |
638,899 |
938,659 |
1,096,302 |
|
NET RESULT |
304,271 |
406,475 |
(868,978) |
(564,707) |
1,284,142 |
*) EBITDA = Operating result – value adjustments on fixed assets and current assets – adjustments on provisions
Rompetrol Well Services S.A. informs the investors in respect to the availability of Q2 2022. The report prepared in accordance with the applicable legislation will be made available starting with August 16, 2022, 18.00 hours, in written form, by request, as well as in electronic format on the Company’s website rompetrolwellservices.kmginternational.com/ Investor relations / Financial results and reports / Half Yearly Interim Reports.
Rompetrol Well Services S.A was established in 1951 as a state owned company, subordinated to the Ministry of Oil and Chemistry, under the name “ICOTS” (Întreprinderea de Cimentări, Operaţiuni si Transporturi Speciale – Enterprise for cementing, Operations and Special Transports). Since 1990, the Company became Petros Ploiesti and in 1998 it was listed at the Bucharest Stock Exchange. In 2000 “The Rompetrol Group” (now KMG International) has taken over the majority stake, now holding a participation share of 73%.
GENERAL MANAGER,