Rompetrol Rafinare (BSE:RRC) said its 2009 losses narrowed 29% from a year earlier to$180 million, according to unaudited financial statement remitted to Bucharest Stock Exchange.
The 2008 loss stood at $225 million, while revenues amounted to $3.93 billion. In 2009, the company’s revenues fell 36% year-on-year, to $2.48 billion.
The financial results were strongly influenced by the global financial crisis, by crude oil and fuel quotations and also by domestic macroeconomic factors such as negative shift in the value of Romanian leu”, the company said in the release.
Rompetrol Refinery, through its branch Vega refinery generated revenues of nearly $2.7 billion in 2009, 36% less than a year earlier, and a negative operating profit (EBITDA) of $36 billion.
Motor fuel sales at the refinery totaled 2.8 million tons in 2009, 2% less than the same period of 2008, on high amount of feedstock processed.
The operating profit (EBITDA) of Rompetrol’s distribution sector, namely Rompetrol Downstream, Rom Oil, Rompetrol Logistics and Rompetrol Gas rose 57% to over $47 million, as the value of this indicator tripled over the last 3 months of 2009, from 3 million to 10.1 million.
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