Integra swings to $84.5 mln losses in 2012
MOSCOW. April 18 (Interfax) - Integra had net loses of $84.5 million in 2012, compared with profit of $8 million in 2012, the oilfield services provider said in a statement.
Revenue fell 1.2% to $623 million.
Earnings before taxes, depreciation and amortization (EBITDA) plummeted 51.8% to $37.7 million, and loss for the period from continuing operations amounted to $84.6 million, against profit of $8.2 million in 2011.
"Despite significant cost savings, overall 2012 profitability was affected by pricing trends that were not sufficient to fully offset the operating cost inflation," the company said.
Last year's operating highlights included 276,000 meters drilled, compared with 266,000 meters during 2011; and 3,555 workover operations conducted, compared with 3,711.
The 2013 order book is currently worth $539.4 million, and is 15.2% lower in ruble terms than in a year ago, primarily due to the recent divestment of nine drilling rigs.
