Romania's largest refinery Rompetrol expects USD 102 mln profit this year
Rompetrol Rafinare (BVB: RRC), a company member of the KMG International Group that operates Romania's largest refinery (plus a smaller one), targets a net profit of USD 102.5 mln this year, 13.5% more compared to last year, according to…
iulian ernst · Journalist
· Updated · 1 min read
Rompetrol Rafinare (BVB: RRC), a company member of the KMG International Group that operates Romania's largest refinery (plus a smaller one), targets a net profit of USD 102.5 mln this year, 13.5% more compared to last year, according to the income and expenditure budget to be submitted to the shareholders' vote, quoted by Ziarul Financiar. In 2021, the company was still reporting losses.
The company also expects a USD 4.57 bln turnover this year, 15.4% below last year's USD 5.4 bln figure but still well above the historical average.
The company has a market capitalisation of RON 2.23 bln (EUR 446 mln).
The most profitable quarter this year would be Q2, with USD 44.2 mln net earnings, while for the last three months of the year, Rompetrol Rafinare anticipates a loss.
Rompetrol turned into the black last year when it reported RON 419 mln net profit from RON 867 mln losses in 2021 while its revenues surged by 60% y/y to RON 24.9 bln (USD 5.4 bln).
(Photo source: Radub85/Dreamstime.com)
