PRESS RELEASE Q1-Q3 2017 Results: Petro Welt Technologies AG posts strong increase in sales revenues and EBITDA

  • Sales revenues in EUR increased by 15.3%

  • EBITDA rose to EUR 68.9 million

  • Group result climbed by 5.5% to EUR 29.4 million

  • Equity base increased by 3.3%, equity ratio is 56.5%

  • Acquisition of Carbo Ceramics in September 2017‌‌‌‌

Vienna, 21 November 2017. In the first nine months of 2017, consolidated revenues increased by 15.3% compared with the previous year to EUR 263.1 million. Consolidated third-quarter revenues were EUR 87.4 million (Q3/2016: EUR 87.4 million). Earnings before interest and tax (EBIT) climbed to EUR 17.3 million (Q3/2016: EUR 15.1 million).

The consolidated cost of sales in euros expanded by 16.9% from EUR 181.6 million to

EUR 212.2 million during the first nine months of 2017, correlating to the increase in revenue.

The profit before tax increased by 5% to EUR 36.0 million in the first nine months of 2017, compared with EUR 34.3 million in the same prior-year period. The net profit in euros rose by 5.5% to

EUR 29.4 million. The gains in the profit before tax mainly relate to the improvement in the net finance result.

The EBITDA margin narrowed slightly to 26.2% during the period under review, compared with 28.7% in the prior-year period. At about 20%, the gross profit margin for the first nine months of 2017 remained at the same level as in 2016. In the third quarter of 2017, the gross profit margin even grew to 25.2% compared with 22.4% in the third quarter of 2016. The managerial cash position, which is calculated as the sum of cash and cash equivalents and bank deposits, increased from

EUR 113.7 million in the previous period to EUR 122.4 million as at 30 September 2017.

The management anticipates that sales revenues will be approx. EUR 335-EUR 345 million in 2017 and expects to maintain EBIT margin in the range of 10%-12%. In turn, this could enable the Company to maintain key indicators of profitability in 2017. This forecast does not take into account potential external economic shocks and force majeure.

The Q1-Q3/2017 Report of Petro Welt Technologies AG is available for download on our corporate website at www.pewete.com

Key positions

Q1-Q3/

2017

Q1-Q3/

2016

Change

Sales revenues

in EUR million

263.1

228.2

15.3%

EBITDA

in EUR million ‌

68.9

65.6

5.0%

EBIT

in EUR million ‌

33.9

33.7

0.6%

EBITDA margin

26.2%

28.7%

-

EBIT margin

12.9%

14.8%

-

Group result

in EUR million ‌

29.4

27.9

5.5%

Earnings per share

in EUR ‌

0.60

0.57

-

Equity

in EUR million ‌

241.1

233.3

3.3%

Operating cash flow

In EUR million ‌

46.5

48.0

-3.1%

Employees (average)

3,537

3,224

9.7%

Contact:

Dirk Moser-Delarami (Grayling Austria GmbH) IR contact

T: +43 1 524 4300 34 | M: +43 664 605 08 801

dirk.moser-delarami@grayling.com

Petro Welt Technologies AG published this content on 21 November 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 21 November 2017 05:50:02 UTC.

Original documenthttp://pewete.com/files/f/news/7036f1/Press-release-Q1-Q3-2017_EN_Pewete_211117_final.pdf

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