26% higher revenues for Rompetrol

The Rompetrol Group logged gross revenues under the IAS of $1.084bn for the first nine months of the year, 26% higher than in the same time of last year, with the growth resembling that of Rompetrol Rafinare (Petromidia). A report of the group shows the gross revenues of Petromidia, Rompetrol’s most important company, increased by 28% to $954 million under the IAS. According to the Romanian accounting standards, Petromidia’s revenues stood at 33,798bn ROL ($1.01bn), nearly 8,150bn ROL more than in 2003. Group-wide EBITDA amounted to $51 million compared with $27 million in 2003. Petromidia’s EBITDA reached $38 million, twice higher than last year. Its losses stood at $19 million under the IAS, while according to the Romanian system, they were worth 864bn ROL ($26 million if calculated at an average exchange rate of 33,240ROL/$ for the first nine months of the year). ZF