PRESS RELEASE
on preliminary financial results for 2024
Rompetrol Well Services SA (PTR) is one of the most significant well services providers in Romania, which offers a broad range of services (cementing, stimulation, various pumping, pressure testing, instrumentation, well casing operations, etc.) for oil and gas wells in Romania, the region, but also in other areas of the EU.
In 2024, the upstream market continued to experience fluctuations in investment and volume of works from customers. The purchase prices for goods and services provided to the company under the contract to carry out its current activities showed a moderate upward trend. At the same time, delivery times continued to show fluctuations due to regional context.
Last year, Rompetrol Well Services performed 112 primary cementing operations (up 18% on the previous year), 192 secondary cementing operations, and 448 stimulation operations (up 15% on the previous year), with a total number of works in line with the company's forecasts.
Considering the operations carried out in 2024, the company managed to record a positive operating result of around RON 8.6 million and a positive net result of RON 10.3 million.
During 2024, Rompetrol Well Services won new service contracts relating to its core business through competitive bidding, which became effective in the last quarter of the year. The company also continues to analyze opportunities for participating in cementing projects in areas with geothermal potential in Europe.
All the company's commitments were managed in a financially balanced manner, and all the necessary funds were available to fully and promptly pay commercial commitments, salary entitlements, and budget debts. The strong liquidity position allowed the company to fully finance its working capital from its sources.
Amounts in RON | 12 months 2024 | 12 months 2023 | Q IV 2024 | Q IV 2023 | ||||
Operating revenue, out of | 77,024,291 | 73,487,511 | 22,272,784 | 16,251,035 | ||||
which: | ||||||||
Rendered services | 74,196,791 | 72,067,998 | 19,957,163 | 15,342,970 | ||||
Operating expenses | (68,415,726) | (62,682,833) | (17,267,088) | (15,039,120) | ||||
Operating result | 8,608,565 | 10,804,678 | 5,005,696 | 1,211,916 | ||||
EBITDA*) | 12,957,617 | 16,773,888 | 5,728,544 | 2,367,068 | ||||
Net financial incomes | 3,168,160 | 3,050,169 | 616,938 | 768,133 | ||||
NET RESULT | 10,281,579 | 11,767,863 | 5,001,126 | 1,780,185 | ||||
*) EBITDA = Operating result - value adjustments on fixed assets and current assets - adjustments on provisions
The full version of the Report on the preliminary financial results of Rompetrol Well Services SA (currently being audited) on December 31, 2024, is available on the company's website: https://rompetrolwellservices.kmginternational.com/en/investor-relations/financial-results-
S.C. Rompetrol Well Services S.A.
#2 bis Clopotei Street, 100189, Ploiesti, Prahova County, ROMANIA
phone: + (40) 244 544321; fax: + (40) 244 522913; email: office.rws@rompetrol.com;www.rompetrol.com
and-reports/annual-reports or on the website of the Bucharest Stock Exchange as from 28.02.2025.
Rompetrol Well Services SA was established in 1951 as a state-owned company subordinated to the Ministry of Petroleum and Chemistry, under the name of 'ICOTS - Întreprinderea de Cimentări, Operațiuni și Transporturi Speciale'. In 1990, the company became Petros Ploiesti trading company and has been listed since 1998 on the Bucharest Stock Exchange. The Rompetrol Group (now KMG International) took over the majority stake in 2000, currently holding 73%.
GENERAL MANAGER,
Georgian Stefan Florea
S.C. Rompetrol Well Services S.A.
#2 bis Clopotei Street, 100189, Ploiesti, Prahova County, ROMANIA
phone: + (40) 244 544321; fax: + (40) 244 522913; email: office.rws@rompetrol.com;www.rompetrol.com