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Oil Terminal Constanta reported in Q1 a net profit of 536,000 lei


Oil Terminal Constanta, the operator of the oil terminal run by the state at the Black Sea reported in Q1 a net profit of 536,000 lei from only 17,000 lei in the similar period of the previous year at business of 36,565 million lei (7,68 million euro) according to the data published on the site of BVB.

Similarly, the net turnover of the company was 36,56 million lei with 8.2% higher than the one registered in the first three months of last year, of 33.78 million lei.

Oil Terminal Constanta worked with a quantity of 1.25 million tons of oil, gasoline, diesel, and chemical producets between January and March as compared to a quantity op 1,44 millions tons between the similar period of 2018.

For 2019 the expenses for investment worth 30.51 million lei at the level of the financing source of investments out of which reimbursements of loans for investments worth 2.39 million lei and investment expenses worth 28.12 million lei. On 31 March there were investment expenses worth 2.59 million lei up by 0.7% (18,000 lei) as compared to the level planned for Q1 2019 ( 2.58 million lei).

On 31 March 2019, the long-term debts registere a growth of 6.1% (73.47 million lei) against 31 December  2018 ( 69.27 million lei) due to the registration of other loans and debt assimilated due to leasing contracts ( 4.2 million lei).

The main shareholder is the Romanian state through the ministry of energy with 59.62% of the social capital.

Oil Terminal Constanta has a storage capacity of almost 1.5 million cubic metres and it is the most important operator at sea in the port of Constanta, specialized in handling oil, oil products and other finite products or raw liquid materials for import, export and transit.

The main competitors on the domestic market of Oil Terminal are: terminal in Port Midia, exploited by Rompetrol Rafinare, terminal Unicorn-Oil Terminal of Galati; Frial SA Constanta and Minmetal SA Constanta. The main competitors on the external market are: terminal of port Omisalje in Croatia which has taken over the oil transit to Serbia and terminal Reni.

Oil Terminal is listed on BVB and has a value on the market of 77,46 million lei.