May 16, 2022 [SeeNews] – Romanian petroleum logistics company Oil Terminal said on Thursday its net profit surged by an annual 82.6% y/y in the first quarter of 2022, reaching 11.52 million lei ($2.4 million/ 2.32 million euro).

First-quarter turnover increased by 16% on the year to 60.66 million lei, the company said in an unaudited financial statement filed with the Bucharest Stock Exchange, BVB.

Oil Terminal’s expenses saw a 17.8% year-on-year increase to 48.25 million lei in the first three months of 2022. Its EBITDA also saw a 69% increase year-on-year, to 18.14 million lei.

The company handled a total of 2.08 million tonnes of crude oil, gasoline, gas oil, fuel oil, as well as miscellaneous chemical products over the first three months of 2022, marking a 25.3% year-on-year increase.

The company’s total assets increased 0.8% on the year, to a total of 598.8 million lei.

Based in the Black Sea port city of Constanta, Oil Terminal specialises 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 stakeholder is the Romanian energy ministry, with a stake of 59.6%; other major stakeholders include Dumitrescu Sebastian Valentin, with a 16.7% stake.

Oil Terminal’s shares traded up 1% at 0.1515 lei as of 14:55 CET on Thursday on the BVB.

Pro Trial: Access 10,390 Tank Terminal and Production Facilities

10,390 tank storage and production facilities as per the date of this article. Click on the button and register to get instant access to actionable tank storage industry data