Romania's petroleum products trader JT Grup Oil reports 69% stronger profit in Jan-Sep

JT Grup Oil, a fuel distributor and the developer of JT Terminal (BVB: JTG), the newest private terminal for liquid petroleum products in Constanta port, reported its net turnover edged up by 4% y/y to RON 179.76 million (EUR 36 million) in the first nine months of 2024.

In the same period, the company's net profit surged by 69% y/y to RON 5.89 million.

JT Grup Oil's performance this year is supported by a 42% increase in operating profit and a 13% increase in fuel sales volume to 29.8 million liters.

An important element of the company's market share expansion policy, as well as the strengthening of the supply process, is the 21.43% increase in inventory.

"The 13% increase in the volume of fuel sales, up to almost 30 million liters, shows us that we have managed to successfully start the process of expanding the market share [...] We have made efforts in recent years to strengthen the company's position in the market, and now I can say that we are ready for a defining moment for our future, the operationalization of the first private terminal for petroleum products, an event that will take place in the first part of 2025 and which will bring a completely new line of business," said Bogdan-Florin Aldea, president of the Board of Directors of JT Grup Oil SA.

(Photo source: the company)