Third-quarter throughput volume rose to 5.143 million cubic meters (32.35 million bbl) from 4.55 million cubic meters a year ago.

Third-quarter EBITDA was $165 million versus $177 million a year ago, and gross profit was down to $376 million from $400 million. Cash flow from operating activities improved to $200 million from $155 million a year ago.

Puma is owned by Trafigura, one of the largest oil trading companies in the world.

Puma operates in 47 countries. The company directly manages over 7,844 employees. Headquartered in Singapore, it has regional hubs in Johannesburg (South Africa), San Juan (Puerto Rico), Brisbane (Australia) and Tallinn (Estonia). Puma’s core activities in the midstream sector include the supply, storage and transportation of petroleum products via a network of over 100 bulk storage terminals.

Puma’s downstream activities include the distribution, retail sales and wholesale of a wide range of refined products, with additional product offerings in the lubricants, bitumen, LPG and marine bunkering sectors. Puma
Energy has a global network of over 2,468 retail service stations and supplies 62 airports.

Denis Chazarain, chief financial officer at Puma, said that “although we faced the headwinds of currency fluctuations and slowdown of some economies, we have increased our storage capacity to a record 7.9 million cubic meters, following the latest acquisition of BP’s storage terminal in Northern Ireland.”

Puma had increased its cash generation and maintained its capital discipline, he said. Furthermore, it has reduced its net debt and leverage.

For the third quarter, Puma increased volumes in both midstream and downstream business segments as well as retail and aviation performing well, the company said.

Investment for the quarter was characterized by organic spending on ongoing construction projects in Ghana, Angola and Vietnam, it said.

Puma’s global network of bulk storage fuel terminals increase to 100 after it recently announced a purchase agreement with BP to buy its bulk storage fuel terminal in Belfast, Northern Ireland.

The number of service stations increased to 2,468 from 2,419 in the second quarter of 2016. The outlook remains positive; retail and aviation expected to perform well backed by consumption growth and marketing efforts, while B2B still impacted by headwinds in some countries, Puma said.

Puma saw a steady third quarter marked by 14% growth in sales volumes powered by higher U.K. volumes and organic growth in Americas and Asia Pacific, the company said.

Gross profit and EBITDA were impacted by slowdown of activity in some countries, affecting the B2B sub-segment, shift in geographical and segment mix and currency fluctuations, Puma said.