OMV Petrom’s net profit in the first half of the year up 53 percent to RON 1.97 billion

OMV Petrom recorded a net profit increase of 53 percent in the first six months of this year, the net result being RON 1.97 billion, compared to RON 1.28 billion in the same period of last year.

In the second quarter, the company reported net profit falling to RON 823 million, from RON 1.151 billion in the first three months of the year. In Q2 2018 OMV Petrom reported a net profit of RON 434 million.

The net profit per share, after the first half of the year, is RON 0.0349, compared to RON 0.0227 in S1 2018.

The value of the consolidated sales, of RON 11.32 billion, obtained in the first semester, increased by 15 percent compared to the similar period of last year, as a result of the positive evolution of prices and volumes for oil and electricity products, partially offset by the smaller volumes of sales of natural gas.

Investments of RON 1.713 billion decreased by 19 percent compared to the RON 2.102 billion made in the first six months of last year. For the whole year, OMV Petrom estimates investments of RON 4 billion, 75 percent of the amount to be directed in Upstream (exploration and production, n.r.).

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After the first six months of 2019, OMV Petrom has 12,767 employees, down from 13,421 in the same period last year.