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Romania: Rompetrol Posts Comparable Q2 2017 Results

Romania: Rompetrol Posts Comparable Q2 2017 Results

Rompetrol registered a gross consolidated turnover worth USD 1.7 billion in the first half of 2017, a level comparable to that from the same period in 2016.

EBITDA operational profit amounted to USD 57.5 million, down by 36% compared to the same period in 2016, in the context of a 17% drop in refining margins in H1 2017 compared to H1 2016. The financial results were also influenced by the scheduled stop of production units in May 2017.

Refining segment

The company has carried out a gross turnover worth USD 1.4 billion in the first half of 2017, up by 2% over the same period of 2016. EBITDA amounted to USD 42 million in the first half of 2017. Financial indicators such as net result and EBITDA, which registered a downward trend in the first half of 2017, were influenced by the volatility of international oil products prices.

Petrochemical segment

In the first semester of 2017, the company has produced 64,690 thousand tons of poliymers, 14% less compared to the similar period of last year, when 75,538 thousand tons were produced, the difference resulting as a consequence of the necessary stops made for the maintenance works related to production installations.

Distribution segment

The consolidated gross turnover for the distribution segment for the first semester of 2017 was over 1 billion USD, by 2% higher compared to last year’s similar period, while the net result has been preserved to a level similar to that of the first semester in 2016.

Fuel sales for the retail segment grew by 9% in the first semester of 2017, compared to the same period in 2016, while the total GPL quantity sold grew by 18% in the first semester of 2017, compared to the same period of 2016.

At the end of June 2017, the distribution segment of Rompetrol Downstream entailed 789 sales locations, including its fuel retail network, partner stations, mobile stations: express, CUVE and RBI. The retail activities of KMG International are conducted in over 1.000 distribution locations for fuels owned and operated in countries like Romania, Georgia, Bulgaria, Moldova. PWKD15082017

Last modified onTuesday, 15 August 2017 02:33
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