Announcement

The Separate Financial Statement and Consolidated Financial Statement for Quarter 4/2016(01/25/2017)

Dear stakeholders, 

PV Drilling would like to release the Separate FS and Consolidated FS for Quarter 4/2016 as well as analyze our business performance as follows:

 

Separate FS

Consolidated FS

Q4/2016

Q4/2015

% variance

Q4/2016

Q4/2015

% variance

Revenue

478,7

1.250,0

-61,7%

811,0

2.333,9

-65,3%

NPAT for sharehoders

23,8

165,2

-85,6%

34,2

76,6

-55.4%

Unit: Bil VND

Compared to the same period last year, Holding Company and Consolidated NPAT of Quarter 4/2016 showed a decline of 85,6% and 55,4% respectively, primarily due to the following reasons:
- The average number of rigs operating in Quarter 4/2016 was only 2,3 rigs compared to 4,2 rigs in the same period last year; Rigs’ operating efficiency achieved only 46%;
- Rigs’ day rate reduced significantly 55%-60%;
- There were no hired rigs working in Q4/2016;
- The workload and price of drilling-related services dropped about 40%-60%

Sincerely,

The Consolidated Financial Statement: Link
The Seperate 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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