Brief: Petro Welt Technologies AG Says Sold Russian Business Units As Of Aug 28, 2022 And Liquidated Joint Venture In Oman

Petro Welt Technologies AG

27/04/2023 21:44

April 27 (Reuters) - Petro Welt Technologies Ag
 O2C.DE :
    * EQS-ADHOC: PETRO WELT TECHNOLOGIES AG: GROUP RESULTS 2022:
DIVESTMENT OF RUSSIAN OPERATING COMPANIES, FOCUS ON BUSINESS IN
KAZAKHSTAN
    * SAYS SALE OF RUSSIAN BUSINESS UNITS AS OF AUGUST 28, 2022
AND
LIQUIDATION OF JOINT VENTURE IN OMAN
    * COMPANY'S MAIN MARKET IS NOW KAZAKHSTAN
    * MANAGEMENT EXPECTS REVENUE OF AROUND KZT 8.8 BILLION TO
KZT 9.8
BILLION IN 2023
    * EBITDA IS CURRENTLY FORECAST TO BE UP TO KZT 3.7 BILLION
IN 2023
    * PETRO WELT TECHNOLOGIES -FY EBIT, IMPACTED BY LOSS FROM
SALE OF
BUSINESS UNITS IN RUSSIA - AMOUNTED TO EUR 399.4 MILLION - AND
CAME TO EUR -388.8 MILLION
    * SAYS FY REVENUE DECREASED BY ONLY 0.8% TO EUR 235.1
MILLION
    * SAYS FY EBITDA ALSO FELL SIGNIFICANTLY TO EUR -361.5
MILLION
(2021: EUR 33.5 MILLION)

Source text for Eikon:  ID:nEQ792ssma 
Further company coverage:  O2C.DE 

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