March 23, 2015 [OPIS] - Puma Energy, a globally integrated midstream and downstream energy company, said on Friday that its 2014 operating profits rose by 5.4% from 2013 to $391 million, thanks to a record year in sales volumes and cash flow generation.
The Singapore-based company’s EBITDA in 2014 rose to $650 million versus $551 million in 2013, but net attributable profit to owners of the parent dropped to $171 million from $211 million in 2013.
Cash flow from operating activities rose to $861 million from $645 million in 2013.
Gross profit in 2014 increased to $1.429 billion from $1.158 billion in 2013.
Sales volumes rose to 14.764 million cubic meters (92.862 million bbl) versus 13.053 million cubic meters.
In 2014, Puma Energy expanded into six new countries.
So far in 2015, Puma Energy, which is 48.7% owned by Trafigura, entered the Colombian retail gasoline market after acquiring 100% shares of Save Combustibles, SAS, which includes all of its assets, sales and distribution facilities in Colombia.
Last week, Puma Energy bought the Australian bitumen assets from BP and a shuttered oil refinery at Milford Haven in Wales from Murco.
