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Annual Shareholders Meeting
Leading the WayVienna,17June2016
DISCLAIMER
Youmustreadthefollowingbeforecontinuing:ThisdocumenthasbeenpreparedbyC.A.T.oilAG(“C.A.T.oil”or“theCompany”) forinformationpurposes only, solelyforuseatpresentations bytheCompanyheld inconnectionwithmeetingswithinvited(potential)investors, analystsandselectedstakeholders, andmustbetreatedconfidentially byattendeesatsuchpresentationsandmustnotbedistributed, passedonorotherwisedisclosed.
Theinformation andopinions containedinthisdocumenthasnotbeenindependently verified andnorepresentationorwarranty,expressorimplied, ismadeasto,andnorelianceshould beplacedon,thefairness,accuracy,completeness orcorrectnessoftheinformationoropinions containedherein.Theinformation andopinions inthesematerialsareprovided asatthedateofthisdocumentandaresubjecttochangewithoutnotice.This documentcontainsvariousforward-lookingstatementswhichreflecttheCompany’s management’s currentviewswithrespecttocertainfutureevents,performancesandfinancialresultsallofwhichareperseuncertainandsubjecttovarious internalandexternalfactors.NoneoftheCompany, anyofitsaffiliates,advisors orrepresentativesacceptsanyobligationtoupdateanyforward-looking statementssetforthhereinortoadjustthemtofutureeventsordevelopments.NoneoftheCompanyoranyofitsaffiliates,advisors orrepresentativesshallhaveanyliabilitywhatsoever(innegligenceorotherwise)foranylosswhatsoeverarisingfromanyuseofthisdocumentoritscontents,orotherwisearisinginconnectionwiththisdocument, oranyactiontakenbyyouoranyofyourofficers, employees, agents,affiliatesorassociates onthebasisofthisdocumentoritscontents.Nothinginthisdocumentis,orshallbereliedupon as,apromiseorrepresentationbytheCompany, anyofitsaffiliates,advisors orrepresentatives.
Thisdocumentdoes notconstitute, orformpartof, anofferorinvitationtopurchaseanysharesorarecommendationregardingthesharesoftheCompany andneitheritnorpartofitshallformthebasis of,orberelieduponinconnectionwith,anycontractorcommitmentwhatsoever.
Thismaterialisgiveninconjunctionwithanoralpresentationandshould notbetakenoutofcontext.
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C.A.T.OILCOMPANY’SSNAPSHOT
AUSTRIA
RUSSIANFEDERATION
KAZAKHSTAN
Founded
1991CorporateHQ
Vienna,Austria
ListedonFSE
2006Segmentlines
5Employees
approx.3,3007nationalities
Clients’portfolio
>25Customers
ECONOMICENVIRONMENTIN2015
4
Indicators 2015/2014 2014/2013Economicgrowth(GDP) (3.7%) 0.7%Industrialproduction (3.4%) 1.7%Oilproduction 1.3% 1.1%Investments (8.4%) (1.5%)Inflation(CPI) 15.5% 7.8%ProducerPriceIndex(PPI) 12.4% 6.1%EUR/RUBavg,change% (33.0%) (19.0%)Realdisposable income (4.0%) (0.7%)
Sources:MinistryofEconomyofRussia,Rosstat
KeyRussianeconomicindicators
RussianGDPandoiloutputdynamics2010–2015
§ OilproductionisoneofpositiveexamplesinRussianindustryinthecontextofrecession
§ PrudentgovernmentandCentralBankmanagementsoftenedimpactofrecession
§ In2015inRussiaGDPdynamicslostcorrelationwithoilproduction
§ Theoilindustrywasamaindriverofeconomicgrowthduringmostpartofpost-sovietperiod
§ Oilproductionreachedarecordlevelof533mtons
CURRENCYANDOILPRICEDEVELOPMENT2015
5
Sources:BankofRussia, http://ru.investing.com
§ StronginteractionbetweenoilpriceandcurrencyexchangerateshasdirectimpactonC.A.T.oil’sfinancialsexpressedinEUR
§ C.A.T.oil’sbusinessisaffectedbydoublenegativeimpactofoilpriceandcurrencydevaluation
HIGHLIGHTSOFC.A.T.OILGROUP2015
6
Q4’15October:Foundation ofManagementCompanyPetroWeltTechnologiesDecember:PaidoutSberbank loaninfull
Q1’15January:Joma announced acquisitionof39.36%ofthesharesinC.A.T.oilunder themandatoryofferFebruary:Yury SemenovwasappointedCEOandValeryInyushin CFO
Q2’15April:Recorddrilling forGPNOrenburg:1,000mofhorizontaldrilling in12.3daysMay:Allequipmentunder InvestmentProgramwasmanufacturedanddelivered
Q3’15June:C.A.T.oilannounced fullcapacitiesutilizationfor2015July:TheCompanyperformed 30,000thfracturing jobforSlavneft - MNG
TASKS2015VS NEWAPPROACHES
7
“ProblemekannmanniemalsmitderselbenDenkweiselösen,durchdiesieentstandensind…“AlbertEinstein
Plan’15 Fact’15
CORPORATEGroupManagementControl Immediately Positive
GroupRestructuring Continuously InProgress
FINANCE Strong financialresults Continuously Positive
OPERATIONSMaintainingongoing operations Immediately Positive
ImprovementofServiceQuality Continuously Positive
CONTRACTINGContractnewequipment Immediately Positive
Tendersfor2016 Continuously Positive
LEGAL “Caterpillar”legalcase Immediately Positive
NEWSTRUCTUREFOREFFICIENTMANAGEMENT
8
PetroWeltTechnologieshasbeenfoundedbasedonanadded-valueapproachto:
§ Createmoremanagementandoperationalefficienciestowardsourclientsandcontractors
§ Generatesynergyandcostsavingamongsupportingandadministrativefunctions
§ Strengthenfocusofoperatingcompaniesonfieldexecutionandqualityofoperations
§ AdjustGroup’sstructureforimplementationofstandards,KPI,policiesetc
2015 2016–2018
404.5322.5
2014
412.1
2013
426.5RevenuesandOrderBookinEURm (31March2016)
§ Allequipmentonsiteinworkingmodeandnearly100%contractedfor2016
§ NewequipmenttostrengthenregionalpresencesandmaintainGroup’smarketshareviacompetitiveadvantages
§ Orderbookfor2016–2018amountstoEUR404.5m,keepingsafecommercialpositionofC.A.T.oilGroup
CapacityAdditions2014–2015
existingcapacities added2014 added1st HY2015
SidetrackingRigs Σ 26
FracturingFleets Σ 16
DrillingRigs Σ 15
Revenues Orderbook2016–2018asof31March2016
CAPACITYEXPANSION&ORDERBOOKSTATUS
9
REVENUEDEVELOPMENTIN2015
10
WellServices Drilling,Sidetracking,IPM
176.0219.2
RevenueinEURm
-19.7%
4,231 4,688
37.5
51.8
10.8%
Jobs ØRevenue/JobinEURthsd.
-27.6%
195.2147.4
756.7
513.7
RevenueinEURm
Jobs ØRevenue/JobinEURthsd.
-24.5% 11.2% -32.1%
RevenuesperCustomerin%intotalRevenue
OthersTomskneftSlavneftGazpromNeft
LukoilRosneft
2015(in%oftotal revenueofEUR322m)2014
ServiceProfile2015
0.7%OtherServices2.1%Cementing
25.9%SidetrackDrilling
51.8%HydraulicFracturing
19.5%ConventionalDrilling
287258
2014 2015 2014 20142015 2015 2014 2015 2014 2015 20152014
13.0
27.4
11.6 7.7 7.8 5.3
16.6
5.19.412.9
35.3
48.1
C.A.T.OILFINANCIALRESULTS2015ATAGLANCE
11
inEURm 2015 2014 Changein%
Revenue 322.5 412.1 (21.8)
EBITDA 81.5 113.2 (28.0)
EBITDAmarginin% 25.3 27.5 (8.0)
EBIT 31.0 67.9 (54.4)
EBITmarginin% 9.6 16.5 (41.8)
Netprofit 20.3 54.1 (62.5)
Equityratioin% 48.3 44.5 8.5
Earningspershare 0.42 1.11 (62.2)
Employees 3,303 2,972 11.1
§ Declineofrevenueduetocurrencydepreciation
§ EBITDAmarginandoperatingcashflowcontinuedtobegenerated
§ Equityratiostrengthenedto48.3%
ExternalpressureaffectedGroupresultsbutkeyfinancialsremainedstrong
NETINCOMEDEVELOPMENT
12
Earningspershare
20141.11
20150.42 (62.2)%
§ Group’snetincomecontractedby62.5%yoy toEUR20.3m(2014:EUR54.1m)duetocompressedEBIT,higherinterestandsignificantFX-changes
§ ThemorepronounceddropinnetprofitcomparedtoEBIT(-62.5%versus-54.4%yoy)canbeprimarilyattributedtotheincreaseineffectivetaxratefrom24%in2014to30%in2015andadditionalinterestscharges
§ ConsequentlyearningspersharediminishedtoEUR0.42(2014:EUR1.11)– unchangedaveragenumberofsharesoutstanding:48,850,000
54.11
(5.35)20.30
8.48
(36.94)
Interest&FXChange
NetIncome2015
TaxChange
EBITChange
NetIncome2014
2015NetProfitReconciliation inEURm
inEUR
DEVELOPMENTOFBALANCESHEETSTRUCTURE
13
31Dec.2015 31Dec.2014
Balancesheetpositions EURm Share EURm Share
Currentassets 144.9 48.1% 180.7 47.6%
Non-currentassets 156.4 51.9% 199.1 52.4%
Assets 301.3 100.0% 379.8 100.0%
Currentliabilities 51.6 17.1% 88.0 23.2%
Non-currentliabilities 104.2 34.6% 122.9 32.3%
Equity 145.5 48.3% 168.9 44.5%
Liabilitiesandequity 301.3 100.0% 379.8 100.0%
Solidbalancesheetstructureprerequisitetotakeonfuturechallenges
§ Non-currentandcurrentliabilitiesweresubstan-tially reduced
§ Non-currentassetsmorethanoffsetbyequityandnon-currentliabilities
DEVELOPMENTOFNETDEBT
14
Keyfigures 31Dec.2015 31Dec.2014
LiabilitiesagainstC.A.T.Holding(Cyprus)Ltd., inEURm 104.8 100.7
Tradepayables,inEURm 25.4 57.0Otherliabilitieswiththe exceptionofaccruedliabilities,inEURm 2.8 0.7
Less:cashandcashequivalents,inEURm (28.5) (58.2)Netdebt,inEURm 104.5 100.2Totalequity,inEURm 145.5 168.9Netdebttoequityratio,in% 71.9% 59.3%Netdebt/EBITDA 1.3 0.9
Totalnetdebt/EBITDA-ratio:1.3xisundersafethresholdof2x
15
inEURthousand 2015 2014
Profitbeforetax 28,873 71,126
Cashflowsfromoperatingactivities 67,328 80,140
Changein WorkingCapital 2,048 (20,147)
Cashflowsusedininvestingactivities (67,027) (134,295)
Cashflowsfromfinancingactivities (29,175) 84,749
Cashandcashequivalents 28,465 58,238
Cashandbankdeposits 40322 58,238
CASHFLOWDEVELOPMENT
Lower profitpartly compensatedby improvedchange of workingcapital
MOODY’S:RATINGCONFIRMEDWITHSTABLEOUTLOOK
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§ Moody’sconfirmedBa3ratingon27April2016
§ Ratingsrationalehighlightsrobustbusinessmodel,well-investedmodernasset-base,strongmarketpositionandorderbook,conservativefinancialandliquiditypolicy
§ Stableratingoutlookreflectsexpectationthat“C.A.T.oilwillcontinuetodemonstratehealthyoperatingandfinancialresultsduringmarketdownturnandmaintainastrongliquidityprofileandaconservativefinancialpolicy”
(71.5)%(77.8)%
(54.4)%
(21.8)%
(62.5)%
(34.8)%
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PEERSCOMPARISONOFCHANGEOFKEYFINANCIALS
Revenue NetprofitOperatingincome
C.A.T.oil Peergroup
Sources:AR2015ofcompanies
2015 2014
in EURm Revenue EBIT Netprofit Revenue EBIT Netprofit
Nabors 3,481.5 141.4 (335.7) 5,145.0 456.9 (507.1)
Calfrac 1,053.9 20.7 (156.2) 1,703.0 243.6 45.7
Trican 183.6 (7.7) (213.2) 475.2 67.7 8.1
C.A.T.oil 322.5 31.0 20.3 412.1 67.9 54.1
Total 5,041.4 185.4 (684.8) 7,735.2 836.2 (399.2)Sources:AR2015ofcompanies
C.A.T.oilonlycompanywithpositivebottomlineandbetterkeyfinancialdynamicsversuspeergroup
ThestockmarketappreciatesC.A.T.oil’sresiliencetotheexternalpressureandtheviabilityofourbusiness
0
20
40
60
80
100
120
140C.A.T.oil Calfrac Trican Nabors
STOCKMARKETCOMPARISONOFPEERGROUP
18
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2015
OUTLOOKFOR 2016BUSINESSYEAR
19
§ Longestglobaldownturn inspiteofoilpricetemporaryrecovery
§ RussiancurrencycanappreciateinQ2–Q3duetooilpriceandstateintervention
§ OilproductioninRussiaexpectedtoremainonlevelof2015
§ OperatorswillcontinueProcurement-Driven-Model
§ CompanyexpectsrevenueinRouble toraiseby1–2%in2016,basedonfullymarketedcapacities
§ MarginsregardingEBITandEBITDAareexpectedaround12%and25%respectively
-60%
-50%
-40%
-30%
-20%
-10%
0%1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19
Months afterpeak
ChangeinInternationalD
rillingRigCountAfterPeak(%
)
20152016
1999
2009
Phase1 Phase2 Phase3
Source:BHIRigCount,SLBAnalysis
“It isn't going to sink indefinitely…”TheodoreDreiser,TheFinancier
RULESOFGROWTH
20
“Ittakesalltherunning you cando,tokeepinthesameplace.Ifyouwanttogetsomewhereelse,youmustrunatleasttwiceasfastasthat!...”LewisCarrol
PRIORITY LEVERAGE
Reducedependenceonexternalfinancing
§ Strongpaymentdisciplineindebtservice§ Strongself-financingposition
Developongoingactivities § Continuous improvement inoperations§ Highbarforstandards
Facilitatefinancialstrengths
§ Incomeandexpenditurecare§ ControlofCAPEX&OPEXviaefficientprocurementandresourcesallocation
“Watchtherightmomentum”
§ M&Aisthefastestwaybutmustbeasubjectofpragmatism,businessstrategyandopportunity
§ Companymustpositivelygainoutofanycollaborationorrightopportunity
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2016 2020
FINANCEGrowfasterofOFSmarketand2xofGroup’sRevenue.40–50%revenuefromoverseas
QHSEHighQHSEculture,Opera-tionalefficiency andconti-nuousreductionofRedMoney
DEVELOPMENTTurnintointernationalserviceproviderwithmulticountyfootprint
CLIENTSRecognizedleaderinareasofoperationsandfastrespondingonClientsneeds
"Changebeforeyouhaveto.Neverbehappywhereyouare.Getacultureatyourcompanythatloveschange.Andeverytimethere'saquantumchange,jump!“
JackWelch
OURROADMAP
INVESTORRELATEDINFORMATION
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FinancialCalendarfor2016 IRContact
26August2016 Half-yearreport201625November2016 InterimreportQ32016
C.A.T.oilAGKärntner Ring11‒13A-1010Vienna
Phone: +43(0)15352320-0E-Mail: [email protected]: www.catoilag.com
22June2016 RecordDate,ex-dividend28June2016 DividendPayment
23
THANK YOUFOR YOUR ATTENTION!