Announcement

The Separate Financial Statement and Consolidated Financial Statement for Quarter 4/2017(01/30/2018)

PV Drilling would like to release the Separate FS and Consolidated FS for Quarter 4/2017 as well as analyze our business performance as follows:

 

Seperate FS

Consolidated FS

Q4/2017

Q4/2016

% variance

Q4/2017

Q4/2016

% variance

Revenue

 790,6
 478,7
 65,2%
 1.188,4
 811,0
 46,5%

NPAT for sharehoders

 251,7
 23,8
 957,6%
 253,7
 34,2
 641,8%
Unit: Bil VND

Compared to the same period last year, Holding Company and Consolidated NPAT of Quarter 4/2017 showed an improvement of 957,6% and 641,8% respectively, primarily due to the following reasons:

-   The number of jack-up rigs operating in Q4/2017 increased compared to Q4/2016 (Q4/2017: 3,6 rigs vs 2,1 rigs of Q4/2016);
-   PV Drilling continued to conduct comprehensive cost reduction and corporate reorganization;
-   In Q4/2017, PV Drilling reverted the 2013, 2014 and 2015 unused Science and Technology Fund as required by laws.

Together with the fact that the oil and gas industry has shown optimistic signals such as oil price rising above 70 USD/barrel as well as regional day rates demonstrating significant improvement, PV Drilling expects to achieve better business performance in upcoming time.

Sincerely.
 
The Consolidated Financial Statement: Link
The Separate Financial Statement: Link
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