Petro Welt Technologies AG, AT0000A00Y78

Petro Welt Technologies AG, AT0000A00Y78

22.03.2019 - 14:04:43

Petro Welt Technologies AG: 2018 Results profit warning: Sales revenue of Petro Welt Technologies AG follows the trend of ruble devaluation

Vienna, 22 March 2019 Based on the results of 2018 financial year Petro Welt Technologies AG expects total revenues of EUR 292 million. This represents a reduction of revenue by 0.5% as compared to the last projection around 293.4 million made on 31 December 2018. The development is due to delay of fracs in the fourth quarter of 2018 caused by extremely low outside temperatures in November and December upon the occurrence of which the operations must be stopped. The EBITDA 2018 is anticipated at about EUR 52 million which corresponds to a margin of 17.8%. The decrease in relation to the amount stated in the ad-hoc announcement of 31 December 2018 is due to increased administrative expenses and cost of certain services and materials together with fuel expenditures because of cold weather conditions.

Contact: Martin Wende (Grayling Austria GmbH) IR contact T: +43 1 524 4300 65 | M: +43 664 605 08 806martin.wende@grayling.com

22-March-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

Language: English Company: Petro Welt Technologies AG Kärntner Ring 11-13 1010 Vienna

Austria Phone: +43 1 535 23 20-0 Fax: +43 1 535 23 20-20 E-mail: ir@pewete.com Internet: www.pewete.com ISIN: AT0000A00Y78 Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange   End of Announcement DGAP News Service

790645  22-March-2019 CET/CEST

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