February 28 (SeeNews) - Romanian oil pipeline operator Conpet [BSE:COTE] said that its net profit rose 24.6% year-on-year in 2022, to 64.7 million lei ($13.9 million/13.1 million euro).
The company's turnover reached 472.2 million lei last year, up by an annual 14.4%, Conpet said in a preliminary financial report filed with the Bucharest Stock Exchange, BVB, on Monday.
Operating profit rose to 66.6 million lei in 2022, up 15.4% on the year.
Operating expenses widened by 13.8% to 455.7 million lei in 2022 due to higher costs of electricity, natural gas, oil royalty, the modernization quota, and personnel.
Conpet's earnings before interest, tax, depreciation and amortisation (EBITDA) rose 9.5% to 120.1 million lei.
The volume of oil, rich gas, ethane and condensate carried by Conpet during 2022 increased by 6.8% to 7.1 million tonnes.
Conpet carries domestic and imported crude oil, rich gas, ethane and condensate through pipelines and railway tankers to refineries in Romania and the Balkan region. It operates a 3,800 km network of oil pipelines across Romania. The company is part of the blue-chip BET and BET-TR indices of the Bucharest Stock Exchange.
Its shares traded 0.27% higher at 75.2 lei by 1124 CET on Tuesday, bourse data showed.
(1 euro=4.92011 lei)