Dedeman owners reduce stake in Bucharest Exchange-listed oil and gas transporter Conpet
The Pavăl brothers, the owners of DIY chain Dedeman, sold part of the shares they had in Conpet Ploiești (BVB: COTE), the operator of the national crude oil pipeline transport system. The sales were carried out at the beginning of this year at prices slightly below the threshold of RON 80/share.
The brothers reduced their stake from 7.41% to 4.98%. The value of the package retained by the founders of Dedeman is RON 33.37 million (EUR 6.54 million).
This is the first share sale signed by Pavăl Holding in this company after they became shareholders in 2018, according Ziarul Financiar.
During this interval, the Pavăl brothers’ investment vehicle collected dividends. Conpet granted last year an aggregate dividend of RON 6.76/share, the largest dividend at the BVB, representing roughly 7%. The amount came to RON 4.34 million.
Pavăl Holding is not the only important seller. Also reducing its stake below the 5% reporting threshold was Lion Capital (BVB: LION).
Romania’s Energy Ministry holds a 58.7% stake in Conpet.
In the first 3 quarters of 2025, Conpet registered a net turnover of RON 422.06 million, up by 5.05% compared to RON 401.77 million in the similar period last year, and at the same time increased its pre-tax EBITDA earnings by 11.36%, to RON 113.96 million, from RON 102.33 million.
In this time, the company registered revenues of RON 476.10 million, 4.15% higher than the RON 457.12 million in the previous financial year. This is a performance achieved despite a decline of 5.38% in the quantities of oil transported, which amounted to 5.06 million tons.
In the same reporting interval, operating expenses advanced by 2.79%, to RON 425.36 million, from RON 413.81 million. Under these conditions, net profit increased by 19.51%, to RON 47.95 million, from RON 40.12 million in the first 3 quarters of 2024.
As of September 30, Conpet’s total assets amounted to RON 850.65 million, being 0.34% lower than the RON 853.55 million. In the same period, total liabilities increased by 10.73%, to RON 136.04 million, from RON 122.86 million.
COTE shares did not show major price movements subsequent to the sale. As a result, investors do not perceive the Pavăl brothers’ sales as an immediate negative signal.
(Photo source: Conpet SA on Facebook)
