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PETROM - over RON 2 billion net profit

The oil company OMV PETROM reported, last year, 2.6 times higher net earnings, of RON 2.19 billion, and a 16 pc rise in sales, as a consequence of the rising crude oil prices and of a more effective refining and marketing activity, Mediafax reports.

The PETROM group reported RON 18.61 billion-sales in 2010, rising from RON 16.09 billion in the preceding year. Its net earnings in 2009 amounted to RON 833 million. The company reported, for the last quarter of 2010, a net profit of RON 779 million, after reporting losses of RON 116 million in Q3 and of RON 131 million in the same quarter of 2009.

Sales in the fourth quarter rose by 29 pc, at RON 5.45 billion, from RON 4.22 billion in the interval October - December 2009.

The group's earnings before interest and taxes (EBIT) amounted to RON 2.98 billion, 84 pc higher than 2009 figures, of RON 1.62 billion. Net profit after minority interests amounted to RON 22 billion, about 2.5 times higher than the preceding year's profit, of RON 860 million. On the other hand, the company allotted, in the 2011 budget, over EUR 1 billion to its sustainable development. The company's investments rose, last year, by 15 pc, at RON 4.86 billion, from RON 4.21 billion in 2009. The company's investments budget will be presented, for approval, to the Shareholders' General Assembly, to convene in April.


Published on 24.02.2011

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