21st Austria weekly - Petro Welt Technologies (27/05/2022)

Petro Welt Technologies AG: Revenue of Petro Welt Technologies AG increased in the first quarter by 37.9% to Euro 62.4 mn compared to Euro 45.2 mn in the first three months of 2021. This was made possible by the recovery of the global economy and the Russian economy following the COVID-19-related recession, the gradual lifting of the OPEC+ restrictions and more successful contracting by the Group itself. Converted into RUB, the Group's main operating currency, revenue grew by 48.4%. The number of jobs performed in Q1 2022 increased by 54.8% to 1,187 (Q1 2021: 767). As a result, revenue for the Well Stimulation segment increased by 61.3% to Euro 29.2 mn (Q1 2021: Euro 18.1 mn). Due to the positive market environment, the management was also able to improve performance in the ...

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