Oil Terminal- Profit of 14.3 Million Lei Last Year, Up 23%
02.15.2024 By Tank Terminals - NEWS

February 15, 2024 [Bursa]- Since the beginning of this year, the regulated tariffs for the flow of crude oil and petroleum products through the oil terminal have been increased by 20%.

 

The port operator Oil Terminal (OIL) reported, for last year, a preliminary net profit of 14.3 million lei, 23.2% above that of the previous year, given that revenues from the provision of services amounted to 346 .7 million lei, up by 15%, according to the company’s report published yesterday on the website of the Bucharest Stock Exchange (BVB).

After the first nine months of the year, Oil Terminal reported revenues from the provision of services of 256 million lei, 20% more than those from January-September 2022, against the background of the crisis created by the conflict in the Black Sea – Ukraine area and deliveries to the Republic of Moldova.

In 2023, the biggest expenses of the port operator were those of personnel, amounting to 139.1 million lei, with 22.9% more than the previous year, while other operating expenses amounted to 118.7 million lei, up 6.3% compared to 2022.

Under these conditions, the company reported an operating result of 26.8 million lei, 63.9% above that of 2022, an amount that was massively diminished by a negative financial result of 10.3 million lei.

Since the beginning of this year, the regulated tariffs for crude oil and petroleum products through the oil terminal have been increased by 19.69%, according to an order of the National Agency for Mineral Resources (ANRM).

Last September, Oil Terminal shareholders approved a partnership between the company and Iulius Real Estate in order to carry out a regeneration and urban development project at the expense of the real estate developer. The partnership involves the establishment of a surface right in favor of Iulius Real Estate, over two plots of land in Constanta, with an area of ​​254,261 square meters and 129,335 square meters, respectively. Within the project, retail, office, residential, entertainment, park, botanical garden, fresh market and related parking lots will be developed directly by Iulius Real Estate.

 

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