Kazakhstan Today reported that CAT oil AG, one of the leading providers of oil and gas field services in Russia and Kazakhstan, announced its results for the Q3 and the first 9 months of 2012.
According to iStockAnalyst.com, the Company demonstrated strong operating and financial performance driven by a vital customer demand, the improved price mix and positive contributions from the new conventional drilling service."
Backed by a historic quarterly high in revenues in Q3, CAT oil increased its revenues by 17.5% YoY to EUR 246.3 million on 9 months basis. At the same time the Company's earnings before interest, tax and depreciation surged by 28.1% comparing to EUR 58.8 million in 9 months resulting in the EBITDA margin expansion to 23.9%. Concurrently, the net income improved by 20.5% YoY to EUR 15.2 million.
Based upon the strong performance in the first nine months of the year, robust market fundamentals and favorable current operating activity levels, CAT oil has reiterated its guidance for FY2012. In addition, the Company decided to expand the 2012 capital expenditure program to accommodate down payments for the expansion of its sidetracking and fracturing operating capacities in fiscal year 2013.