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OMV Petrom – net profit up by 13%, to 980 mln. lei in H1

OMV Petrom ended the first half of this year (H1) with a net profit of 980 million lei, up 13% compared to the same period last year, according to data submitted on Wednesday to the Bucharest Stock Exchange.

The value of revenues from consolidated sales, amounting to 10.126 billion lei, increased slightly by 1% compared to January-June 2020, mainly due to better market prices for petroleum products and electricity, offsetting lower volumes of gas sales natural and electricity.

Downstream Oil sales accounted for 77% of total consolidated sales, Downstream Gas sales accounted for 21% and Upstream sales for 1% (Upstream sales were largely intra-Group sales, not third parties), according to Agerpres.

Operating income increased to 1.237 billion lei, compared to 972 million lei last year, mainly due to the favorable market environment, as the Group’s performance in 1-6 / 20 was negatively influenced by lower prices and the crisis. generated by COVID-19.

Investments amounted to 1.208 billion lei in the mentioned period, 23% lower than in the first half of last year and were directed mainly to the Upstream segment (993 million lei). Downstream investments were worth 208 million lei, of which 198 million lei in Downstream Oil.

Equity decreased to 32.352 billion lei on June 30, 2021, compared to 33.071 billion lei on December 31, 2020, mainly due to dividends distributed for the financial year 2020, partially offset by the net profit generated in the current period.

The Group’s total equity ratio to total assets was 69% at June 30, 2021, at the same level compared to December 31, 2020.

At the end of June this year, OMV Petrom had 8,747 employees, down 27% from the same period last year.

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