Petrom made 40% of planned profit in Q1 2008

Romania’s largest company, Petrom, posted net profit worth RON 977 million (€266 mln), which represents some 40 percent of planned profit for 2008, at €673 mln. The net result in the first quarter of 2008 is 156 percent higher year-on-year.

Petrom main shareholder, Austrian OMV group, announced a net profit of €446 mln, 34 percent higher year-on-year. Mariana Gheorghe, Petrom’s General Manager, says that international conditions and company restructuring have positively influenced the results.

Petrom’s contribution to OMV was also highlighted by the Austrian company’s President, Wolfgang Ruttenstorfer. “The favorable Petrom results demonstrate that the Romanian restructuring process is successful,” added Ruttenstorfer.