Announcement

The Separate Financial Statement and Consolidated Financial Statement for Quarter 1/2017(04/28/2017)

Dear stakeholders, 
 
PV Drilling would like to release the Separate FS and Consolidated FS for Quarter 1/2017 as well as analyze our business performance as follows:
 

 

Separate FS

Consolidated FS

Q1/2017

Q1/2016

% variance

Q1/2017

Q1/2016

% variance

Revenue

338,2

461,8

-26,8%

503,0

1.577,4

-68,1%

NPAT for sharehoders

(167,6)

30,4

-651,3%

(200,9)

56,2

-457,5%

Unit: Bil VND
 
Compared to the same period last year, Holding Company and Consolidated NPAT of Quarter 1/2017 showed a decline of 651,3% and 457,5% respectively, primarily due to the following reasons:
 
- The average number of rigs operating in Quarter 1/2017 was only 1,4 rigs compared to 2,0 rigs in the same period last year; Rigs’ operating efficiency achieved only 28%;
- Rigs’ day rate reduced significantly 55%-60%;
- There were no hired rigs working in Q1/2017;
- The workload and price of drilling-related services dropped about 50% in Q1/2017;
- Increase in provision for bad debt.
 
Sincerely.
 
The Consolidated Financial Statement: Link
The Separate Financial Statement: Link
Address: 4th Floor, Sailing Tower No. 111A Pasteur Street, Ben Nghe, District 1, Ho Chi Minh City
Tel: +84-8-39 142 012 (7 lines) - Fax: +84-8-39 142 021 - 39 142 022 - Website :
www.pvdrilling.com.vn 
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