Announcement

The Separate Financial Statement and Consolidated Financial Statement for Quarter 2/2017(07/28/2017)

Dear stakeholders,

PV Drilling would like to release the Separate FS and Consolidated FS for Quarter 2/2017 as well as analyze our business performance as follows:


 

Seperate FS

Consolidated FS

Q2/2017

Q2/2016

% variance

Q2/2017

Q2/2016

% variance

Revenue

629,9

747,3

-15,7%

945,3

1.775,8
-46,8%

NPAT for sharehoders

-12,0

11,3

-206,2%

-45,2

19,9

-327,1%


Unit: Bil VND

Compared to the same period last year, Holding Company and Consolidated NPAT of Quarter 2/2017 showed a decline of 206,2% and 327,1% respectively, primarily due to the following reasons:

-   Rigs’ day rate in Q2/2017 reduced significantly 35%-40% in comparison to Q2/2016;
-   There were no hired rigs working in Q2/2017 compared to 01 rig operating in Q2/2016;
-   PV DRILLING V rig has not operated in Q2/2017;
-   The workload and price of drilling-related services dropped about 30%-40% in Q2/2017 compared to the same period last year;

Compared to Q1/2017, PV Drilling’s business performance in Q2/2017 has shown visible improvement, which was illustrated by the lower loss amount of 155 billion VND compared to Q1/2017, primarily due to rigs’ operating efficiency in Q2/2017 achieved about 70%, 33% increase compared to Q1/2017. In addition, together with the fact that the oil and gas industry has shown optimistic signals, PV Drilling expects to achieve better business performance in upcoming time.

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: +84-28-39 142 012 (7 lines) - Fax: +84-28-39 142 021 - 39 142 022 - Website :
www.pvdrilling.com.vn 
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