OMV Petrom reports record EUR 2 bln profit for 2022

OMV Petrom, the largest company in Romania, reported revenues of RON 61.3 bln (EUR 12.5 bln), about 2.4 times higher than in 2021, and a net profit of RON 10.3 bln (over EUR 2 bln) for 2022, a record for Romanian companies.

The company's officials said that, according to their estimates, OMV Petrom would not have to pay the solidarity contribution to the budget.

With declining oil and gas production, the main engine that drove the company's financials was the energy prices.

"2022 was an unprecedented year for the energy industry, with difficulties in the supply of energy products, record international prices and fiscal volatility. Our results reflect this market environment and operational performance: diversification of energy sources, continuity of supply, record electricity production," Christina Verchere, CEO of OMV Petrom, said in the online press conference announcing the company's record results from last year, Ziarul Financiar reported.

Out of the net profit, OMV Petrom intends to distribute RON 2.3 bln as dividends, which would result in a dividend yield of some 8%.

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