Oil Terminal – profit almost nine times higher than in 2018

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Oil Terminal, the operator of the Black Sea oil terminal, reported a preliminary net profit of 2.42 million lei for 2019, almost nine times over that of the previous year, of 0.28 million lei, due to an increase in revenues from the provision of services of 15.5%, up to 166.13 million lei, is shown in the report of the company, sent to the Bucharest Stock Exchange (BVB).

Personnel expenses rose by 12.2% to 89.06 million lei, while in the category “Other operating expenses”, the increase was of 16.2%, from 26.19 million lei in 2018 to 30.45 million lei last year, according to Bursa.

Under these circumstances, the operating result almost doubled, reaching the level of 6.62 million lei, in 2019, while from the financial activity Oil Terminal registered a loss of 2.29 million lei, 59% bigger than the 2018 figure.

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