February 28 (SeeNews) - Macedonia's sole oil refinery Okta [MSE:OKTA] said on Wednesday that its non-consolidated net profit fell by an annual 39% to 203.2 million denars ($4.0 million/3.3 million euro) in 2017.
The company's sales revenue rose 21% year-on-year to 23.1 billion denars last year, Okta said in an annual financial report filed with the Macedonian Stock Exchange.
Okta's cost of goods sold grew 24% on the year to 21.9 billion denars, while sales and marketing costs increased 4% to 571.8 million denars.
Administrative costs fell by an annual 12% to 245.8 million denars.
Okta is majority-owned by EL.P.ET. Balkaniki, a subsidiary of Greek oil group Hellenic Petroleum.
OKTA possesses crude oil refining facilities with installed capacity of 2.5 million metric tons. Its installations are connected via a 210 km pipeline with HELPE refinery in Thessaloniki. OKTA supplies more than half of the fuel needs of the country and has significant exports to Kosovo. It also exports to Serbia and Albania.
(1 euro = 61.51 denars)
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