Romania's Oil Terminal reports 91% stronger profit in Jan-Sep driven by robust revenues

Romania's state-controlled Oil Terminal (BVB: OIL), managed by the Ministry of Energy, reported a net profit of RON 45.26 mln (EUR 9.05 mln), a 91% increase year-on-year, for the first nine months of 2024, according to revised financial results published on the Bucharest Stock Exchange.

Total revenues rose by 35% y/y to RON 354 mln (EUR 70.8 mln), while expenses increased by 28% to RON 301 mln (EUR 60.2 mln), reflecting the terminal's strong financial performance and heightened operational activities, Economedia.ro reported.

Operating profit (EBIT) surged by 78% to RON 61.2 mln (EUR 12.2 mln), and EBITDA increased by 60.1% to RON 74.39 mln (EUR 14.9 mln).

The turnover rose 36.5% year-on-year to reach RON 352.42 mln (EUR 70.4 mln), with productivity (measured in RON per employee) up 32.5%.

The company, which plays a vital role in the Black Sea oil transit sector, handles oil and oil products through the Port of Constanța, a key maritime intersection for Europe, Asia, and the Near East.

The Romanian state, via the Ministry of Energy, holds an 87.75% stake in Oil Terminal, with the remaining shares owned by institutional (9.52%) and individual investors (2.72%).

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