Petrom sees first drop in ROL

SNP (National Oil Company) Petrom, Romania’s second-largest company in terms of turnover, last year earned net profit worth 38 million euros and turnover of 1.89 billion euros, according to the preliminary financials. In ROL, turnover was 71,345bn ROL, whereas net profit was worth 1,440bn ROL. Turnover dropped 19% in euros as compared to the 2002 levels, while gross profit went down from 107m euros in 2002 to 85m euros last year, given the strong growth posted by the single European currency. Also, the results point to the first ever drop of the company’s results in ROL – down 37%. ZF