November 14 (SeeNews) - Romanian petroleum logistics company Oil Terminal said on Monday its net profit jumped 51.4% year-on-year in the first nine months of 2022, reaching 28.7 million lei ($6 million/ 5.8 million euro).
Net turnover increased by 33.8% on the year in the nine months through September, to 214 million lei, the company said in an unaudited financial statement filed with the Bucharest Stock Exchange, BVB.
Oil Terminal’s revenues rose by an annual 36% during January-September to 219 million lei, while expenses increased 35% year-on-year to 186 million lei. EBITDA rose 41.5% to 46 million lei.
The company handled a total of 6.718 million tonnes of crude oil, petrol, gas oil, fuel oil, as well as miscellaneous chemical products over the first nine months of 2022, up 33% on the year.
The company's total assets increased by an annual 9% to 648 million lei as at end-September.
Based in the Black Sea port city of Constanta, Oil Terminal is specialised in logistics pertaining to a variety of petroleum products and chemicals. The company has a total storage capacity of approximately 1.4 million cubic metres.
Oil Terminal’s majority shareholder is the Romanian energy ministry, with a stake of 59.6%; other major stakeholders include Dumitrescu Sebastian Valentin, with a 17.16% stake.
Oil Terminal's shares traded 2.50% higher at 0.1640 lei as of 1544 CET on Monday on the BVB.
(1 euro = 4.8982 Romanian lei)