Rompetrol sees better two-month results

ompetrol Group made net profit of 7.17 million dollars in the first two months of the year, a company release shows.
At the same time, the turnover stood at 274 million dollars, and EBITDA (earnings before interests, taxes, depreciation and amortisation) progressed to 22.6 million dollars.
According to the release, the improved financial results registered from January through February 2005 were largely due to Rompetrol Rafinare’s operations.
Rompetrol Rafinare posted a two-month turnover worth 240 million dollars, while the net profit was of 17.7 million dollars.
“Rompetrol Rafinare estimates a constant growth of the profitability of the business, a trend largely manifest in the last six months following the increase in the refining margins on both the domestic market and for exports, the strengthening of the domestic currency against the US dollar and the significant increase in the number of cars sold on the domestic market in this period,” Rompetrol’s chairman Dinu Patriciu said.
He explained that the positive development of the financial results would allow the group to engage in a strong development of the domestic and regional production and distribution networks.
The company employs 7,300 people and made 1.61 billion dollars in turnover in 2004.
Rompetrol Downstream, the fuel retail division of the Rompetrol Group dedicated two new filling stations in Brasov last week, following an approximately two million-dollar investment.
The company owns 86 filling stations in Romania, with a further 152 being operated by partnerships, which corresponds to a 10 percent market share.
Rompetrol Downstream will expand its distribution network this year by more than 40 new stations, as well as by 100 stations operated by franchisees. Rompetrol Downstream aims for an about 15 percent share of the market.
adrian.mirsanu@zf.ro