Romania’s No. 1 oil company Petrom sees 22% lower net profit y/y in 2007, to EUR 492.5m

The company’s net profit totaled 1.78 billion lei (492.53 million euros), down against the 2.28 billion lei reported in 2006.

Petrom’s revenues last year dipped 6 percent against the previous, to 12.28 billion lei. In 2006, the company witnessed revenues of 13.08 billion lei.

Petrom’s expenditures lowered 5 percent year-on-year in 2007, to 10.83 billion lei. The company’s 2006 expenditures stood at 11.4 billion lei.

Petrom Bucuresti has a share capital of 5.66 billion lei, divided into 56.64 billion shares at a face value of 0.10 lei. The company’s main shareholder is the Austrian based OMV Aktiengesellschaft which holds 51.011 percent of the shares. The company's shares are listed on the first tier of the BSE under the SNP symbol.

Source: NewsIn