Petrom's branches drag profit down by 10% in 2006

Petrom posted a consolidated profit worth 585 million euros (2.06 billion RON), around 9.5% less than the individual profit, worth 647 million euros (2.28 billion RON). The company’s total revenues amounted to 4.32 billion euros (15.25 billion RON), around 5% more than the non-consolidated revenues. Petrom’s consolidated results include those generated by its 7 Romanian branches and by its 18 foreign branches, such as OMV Romania, OMV Bulgaria, OMV Yugoslavia, Petrom Moldova and Petrom Gas. The consolidated profit for 2006 is 20% higher than the profit registered in the previous year, of 486 million euros (1.76 billion RON). Petrom derived earnings before interests and taxes of 933 million euros (3.28 billion RON). The result was affected for the most part by the refining operations, which generated losses worth 210 million euros (710 million RON) for the company. Petrom’s marketing activities caused losses worth around 52.5 million euros (185.2 million RON) for the company, while the chemicals segment fetched the company earnings before interests and taxes of 15 million euros (52.5 million RON).