ANNOUNCEMENT concerning the availability of 3Q 2022 Report
In the first nine months of this year, the Company managed to demonstrate its ability to adapt to the conditions of a volatile upstream market, maintaining its position on the specific market of well-related services. This evolution was also reflected in the volume of operations performed for our clients, increasing by 2% compared to the level recorded in the similar period of 2021.
Moreover, the geopolitical context and the uncertainty faced by the region during this period triggered a sharp increase in the purchase prices for the goods and services contracted by the company for the current activities, but also a fluctuation in delivery times. However, the Company managed to maintain a level of profitability similar to the one recorded in 2021.
Although in 2022 we expect the market to be still volatile, with a low level of new investments from our main clients, we estimate that the Company's flexibility in terms of the type of services provided, together with a strong financial position, including cash and cash equivalents cash, will allow the operational activity to register a level similar to that achieved in 2021.
The Company continued in 3Q 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 III 2022 |
Q III 2021 |
Q II 2022 |
9M 2022 |
9M 2021 |
|
Operating income, of which: |
14,963,523 |
9,655,492 |
11,888,255 |
38,254,905 |
32,568,559 |
|
Rendered services |
14,805,963 |
9,424,154 |
11,679,189 |
37,773,667 |
31,708,223 |
|
Operating expenses |
(14,052,388) |
(10,111,955) |
(11,885,744) |
(38,847,136) |
(32,726,853) |
|
Operating result |
911,135 |
(456,463) |
2,511 |
(592,231) |
(158,294) |
|
EBITDA *) |
2,373,269 |
389,196 |
789,803 |
2,719,308 |
2,456,591 |
|
Net financial income |
1,288,250 |
462,419 |
301,760 |
2,226,909 |
1,558,721 |
|
NET RESULT |
1,976,528 |
(9,569) |
304,271 |
1,411,821 |
1,274,572 |
*) 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 Q3 2022. The report prepared in accordance with the applicable legislation will be made available starting with November 15, 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 / Quarterly 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,