Romanian state-owned oil carrier sees slight increase in net profit
Romanian state-controlled oil pipe operator Conpet Ploiesti posted a net profit of EUR 14.2 million last year, up almost 2% compared to the previous year.
The turnover slightly dropped to EUR 84.5 million, according to preliminary data sent to the Bucharest Stock Exchange (BVB).
The company carried out investments of EUR 12.6 million last year. The total volume of transported products increased by 1.3% from 6.99 million tons in 2015 to 7.07 million tons in 2016.
The carrier’s total debts reached EUR 15.7 million at the end of last year, slightly up compared to the same period in 2015 when the debts stood at EUR 15.5 million.
The Romanian state owns a stake of 58.71% in the oil carrier via the Energy Ministry. The company has about 1,700 employees. The firm is listed on the Bucharest Stock Exchange and has a market value of EUR 173 million at the last closing price of RON 90 (EUR 20) per share.
editor@romania-insider.com
(photo source: Conpet SA on Facebook)
