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Rompetrol Bulgaria widens 2018 net loss, cuts revenue

Author Mario Tanev
Rompetrol Bulgaria widens 2018 net loss, cuts revenue Author: Rompetrol Bulgaria / All rights reserved.

SOFIA (Bulgaria), July 11 (SeeNews) - Fuel trader Rompetrol Bulgaria said that its net loss widened to 2.2 million levs ($1.3 million/1.1 million euro) in 2018 from 872,000 levs the year before, following a slight decrease in revenue.

Rompetrol Bulgaria's sales fell to 562.8 million levs last year from 574.5 million levs in 2017, the company said in an annual financial statement.

Cost of goods sold declined to 544.9 million levs from 557.3 million levs.

Selling and distribution cost amounted to 17.1 million levs in 2018, down from 17.8 million levs in 2017.

Financial revenue rose to 6.4 million levs from 5.5 million levs, while financial expenses grew to 9.0 million levs from 5.9 million levs.

The company's assets fell to 103.1 million levs at the end of 2018 from 130.5 million levs a year earlier, following a drop in client receivables.

Rompetrol Bulgaria operates 52 filling stations in the country.

Rompetrol Bulgaria is part of Dutch-based KMG International, which in turn is a unit of Kazakhstan's KazMunayGas.

(1 euro = 1.95583 levs)