Welltec Announces Estimated Historical Financial Results


Welltec Estimated Ads Historical Financial results

Allerød, Denmark (September 27, 2021) – Welltec International ApS (Welltec) hereby announces the estimated historical financial results described in the charts below:

These estimated results are preliminary and unaudited, are based on information available to management at the date hereof and are subject to adjustments based on accounting closing procedures (which have not been completed). In addition, these estimated results should not be considered a substitute for the complete quarterly financial statements prepared in accordance with International Financial Reporting Standards (IFRS).

In addition, these estimates are not necessarily indicative of Welltec’s results for a future period.

Our independent public accounting firm has not performed any audit, review or set of procedures with respect to these estimated results, and has expressed no opinion or other form of assurance thereon. An audit, review or set of procedures of these results could lead to changes.

As a result of the foregoing, actual results may differ materially from the estimates presented here. Welltec assumes no obligation to update this information.

EBITDA is a non-IFRS measure. As the estimated results presented above are preliminary, we have not provided a reconciliation of EBITDA to net income or net cash generated from operating activities.

The foregoing information constitutes forward-looking statements. See “Forward-Looking Statements” below.

About Welltec
Welltec® is a global technology company that develops and provides efficient high-tech solutions for the energy industry.
The company was founded in 1994 and has grown rapidly by providing innovative robotic technology to oil and gas operators. In 2010, Welltec introduced a new business segment focused on the development of completion products. Commercialization of these products began in 2014, and the company is now a world leader in metal expandable packer technology. Welltec’s industry-leading products and services are designed to optimize the performance and integrity of a well, in any environment.

Through advanced engineering and lightweight design, Welltec’s solutions have helped customers increase operational efficiency and reduce their carbon footprint in a safe and sustainable manner for over 25 years.

Neither the content of the Welltec website nor any hyperlinked website on the Welltec website is incorporated into, or is part of, this advertisement. The distribution of this announcement in certain jurisdictions may be restricted by law. Persons in possession of this advertisement must inform themselves and respect these restrictions. Any breach of these restrictions may constitute a violation of the securities laws of such jurisdiction.

Forward-looking statements
This press release includes certain “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. From time to time, we provide forward-looking statements in other documents we release to the public as well as oral forward-looking statements. We have tried, as far as possible, to identify such statements by using the words “believes”, “considers”, “aims”, “objectives”, “anticipates”, “expects”, “a l ‘intention to’, ‘plans’, ‘continue’, ‘in progress’, ‘potential’, ‘product’, ‘projects’, ‘orientation’, ‘research’, ‘could’, cases, their negative or other variations or comparable terminology or through discussions of strategies, plans, objectives, targets, goals, future events or intentions.

The absence of such terminology does not necessarily mean that a statement is not forward-looking. By their nature, forward-looking statements involve known and unknown risks and uncertainties as they relate to events and depend on circumstances which may or may not occur in the future.

We caution you that forward-looking statements are based on potentially inaccurate assumptions and are not guarantees of future performance and that our actual operating results, financial condition and liquidity as well as the development of the industry in which we operate. may differ materially from those obtained in or suggested by the forward-looking statements contained in this press release. In addition, although our results of operations, financial condition and liquidity, and the development of the industry in which we operate are consistent with the forward-looking statements contained in this press release, such results or developments may not be indicative of results or changes in subsequent periods.

All forward-looking statements contained in this press release are qualified in their entirety by this cautionary statement. We do not undertake to update any forward-looking statements. Forward-looking statements speak only as of the date on which they are or were made, and we do not intend to update any forward-looking statements to reflect any event or circumstance occurring after the date of this release. release, facts or conditions currently unknown. or the occurrence of unforeseen events, except as required by law.

Søren Søgaard Suhr, Chief Financial Officer
Cell: +45 2034 0488
Email: [email protected]

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