KMG International’s operational result up by 6 pct to USD 154 mln on nine months

Newsroom 23/11/2016 | 11:58

KMG International’s operational result (EBITDA) went up by 6 percent in the first nine months of the year, up to USD 154 million, compared with the same period of 2015, based on a gross turnover of approximately USD 5 billion, according to a release of KMG.

KMG International (KMGI) increased its refining and fuel distribution activities in the Black Sea, supported also by the benefits of the optimization and efficiency program initiated in 2013, “Business Transformation”, says the company.

“The operational and financial performances obtained in the first nine months of the year are based on the strategy directions developed and adopted by KMG International during 2013-2014, together with its sole shareholder, KazMunayGas. These focused on the consolidation of the profile activities, the development of Rompetrol presence in the Black Sea region, the improvement and efficiency of the processes and operations, as well as the attraction and involvement of the employees in reaching these results,” said Zhanat Tussupbekov, the general director of KMG International group.

The refining activities of Petromidia Navodari and Vega Ploiesti, but also of the oil-chemical division, amounted to 4.14 million tonnes of raw material during January-September 2016, a drop by 5 percent compared with the same period of 2015.

According to KMGI, the difference was mainly determined by the temporary halt of the production activities of refinery Petromidia in August for the development of some investments and maintenance works.

Refinery Petromidia Navodari has succeeded in increasing its daily processed raw materials quantity by 3 percent in the first nine months of the year, from 15,080 tonnes in the same period of 2015 to 15,510 tonnes.

The refinery of the group registered a growth by 44 percent of EBITDA in the first nine months of the year, up to USD 74.1 million in the context of the increase of 4 percent in the sales on the internal market and the drop in deliveries at export, says the company.

Georgiana Bendre

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