Conpet’s net profit up by 3 pct to RON 73.661 mln in 2017

Georgiana Bendre 15/02/2018 | 16:35

Crude oil and oil products national transporter Conpet posted a net profit of RON 73.661 million in 2017, an year-on-year hike by 3 percent, according to the a report of the Bucharest Stock Exchange (BVB).

The company posted a turnover of RON 376.66 million, an year-on-year drop by 1.4 percent. At the same time, the operating revenues reached RON 410.81 million, an year-on-year drop by 0.1 percent. The expenses from exploration decreased by 1.1 percent, reaching to RON 327.27 million.

EBITDA recorded a 6.2 percent increase, from RON 120.62 million in 2016, to RON 128.12 million in 2017.

The operating profit (EBIT) grew by 4 percent, from RON 80.31 million in 2016 to RON 83.54 million in 2017.

According to the report, the overall transported quantity in 2017 decreased by 259,000 tones compared with 2016, due to the demand decrease from transport services.

“Compared with the previous year, the revenues from transport decreased by 1.7 percent (RON 6.22 million) due to the decrease in transported quantity. As compared to budget, the

transport revenues achieved increased by 2.3 percent (8.40 million RON).

The revenues from transport services account for 91 percent in total operating revenues, respectively 99 percent in total turnover,” says the release.

Also, the company obtained revenues from other activities, representing land rents and telecommunications equipments, rail tank shunting, sale of tubular material etc, in amount of 4.30 million RON. In other operating revenues are acknowledged the reserves representing the modernization quota at the level of the expenses related to the depreciation of the tangible assets financed from it and the gain obtained from the sale of the operating product-rich gas resulted following the emptying of Ticleni -Petrobrazitransport pipeline.

In 2017 the value of these revenues amounted to 33.2 million RON.

At the same time, the document says that the investments program for 2017 comprised investments objective regarding the installations program, equipments of the National System of oil transport, as well as the rehabilitation and safety of conducts.

The value of the investments program for 2017 was RON 64.27 million. The investments value for 2017 represents RON 48.48 million, an increase by 6.8 percent compared with 2016.

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