Rompetrol Rafinare increases its revenues and reduces losses
Rompetrol Rafinare, a member company of KMG International, recorded a USD 4.33 billion turnover, in the first 9 months of 2014, 27% higher as compared to the same period last year. In addition, Rompetrol Rafinare stays on the track in reducing its losses. In the first 9 months of the year, the company recorded USD 41.7 million in losses, two times smaller than the negative results of value of USD 86.11 million recorded in the first 9 months of 2013.
The exports of Rompetrol Rafinare are 50% higher
The exports of Rompetrol Rafinare exceeded USD 1.6 billion in the first 9 months of 2014, 50% higher than in the same period of last year.
In 2013, the value of the company’s exports both to the subsidiaries of KMG International in Moldova, Georgia, Bulgaria, Ukraine, and to other traditional partners in the Black Sea Region amounted to USD 1.7 billion, and the trend is expected to increase, as 2014 is expected to see an approximately 30% increase thereof as compared to last year.
On profit in the 3rd trimester
In the 3rd quarter of 2014 Rompetrol Rafinare recorded a USD 5.2 million net positive result pursuant to increasing the quantities of processed raw materials (+12%), optimizing the fuel distribution channels in Romania and decreasing the operational costs.
During January – September 2014, 3.7 million tonnes of raw materials were processed, 32% more than in the similar period of last year.
EBITDA (profit before interests, tax, depreciation and amortisation) exceeded USD 62 million in the first 9 months of 2014 four times higher compared to USD 15 million recorded the similar period of last year.
More contributions to Romania’s state budget
Rompetrol Rafinare remained an important contributor to Romania’s state budget, paying more than USD 534 million in Q3 of 2014 and over USD 1.3 billion in the first 9 months of 2014. The company’s contribution to the state budget in 2013 was over USD 1.4 billion.
The company Rompetrol Rafinare operates the Petromidia and Vega Refineries and accounts for 43% of Romania’s refining capacity, and the total investments of KMG International and KazMunayGas in the period 2007 – 2013 on the Petromidia platform exceed USD 1.3 billion.
In the first 9 months of 2014, the turnover recorded by the refining and petrochemicals segment was increased by 29% up to a value of USD 3.97 billion and EBITA improved, reaching a positive result of USD 7.5 million as opposed to last year’s negative result of USD 18.5 million.
The aggregate quantity of raw material processed by the Petromidia Refinery in the period January – September was 3.74 million tons (2.75 million tons of fuels), which is 32% higher than the same period of last year, when the quantity processed was 2.1 million tons of fuels. Due to the market conditions in refining sector, the net result recorded in the first 9 months of 2014 is still negative (USD 65.4 million), but improved compared to the similar period of 2013 (USD 86.7 million).
The turnover recorded on the distribution segment in the first 9 months of 2014, was USD 2.45 billion, 16% higher than in the similar period of 2013, (USD 2.11 billion). The net result on the distribution segment reached USD 17.7 million, amost seven times higher compared to the similar period of 2013 (USD 2.6 million).
Increased fuel sales
In the first 9 months of 2014, the total volumes of fuels sold in Romania reached 1.43 million tons (gasoline, diesel gas, LPG), which is about 8% higher than the indicator recorded in the same period of 2013 (1.32 million tons).
At the end of September 2014, the distribution segment of Rompetrol Downstream included 746 sales locations (own filling stations, Partner stations, Rompetrol Express, 9 and 20 cubic meter internal bases), 230 GPL distribution stations, 9,000 bottle distribution and 3 GPL bottle-filling stations in Constanta, Arad and Bacau.
KMG International operates over 1,000 fuel distribution locations under the trademarks Rompetrol and Dyneff, in Romania, France, Spain, Republic of Moldova, Georgia, and Bulgaria.
KMG International is controlled by Kazakh state company KazMunayGas.