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The net profit of OMV Petrom dropped by 12% in Q1 at 573 million lei



The net profit of OMV Petrom dropped by 12% in Q1 at 573 million lei, from 653 million lei during the similar period of last year, while the income from sales dropped by 20%  at 4.86 billion lei, from 6.08 billion lei in Q1 of 2020, shows the report sent on last Thursday by the company BVB (The Bucharest Stock Exchange).


The total debt dropped by 313 million lei on 31st March 2021 as compared to the value on 31st December 2020, mainly due to the drop of the debts on a long term as a result of the revision of the provisions regarding the obligations with restoration.


The debts on a short term (including the debts associated to the assets owned for sale) dropped by 45 million lei due to the diminution of the commercial debts determined by lower acquisition, partially compensated by the growth of the financial debts in connection to the derivates and the growth of provisions.


The value of investments exluding the acquisition is estimated at 2.9 billion lei (2020: 3 billion lei).


OMV Petrom has as a target the reduction of the intensity of carbon emissions with 27% up to 2025 against 2010 (2020: drop against 26% 2010).


In Upstream, on the production side,  the company meant to keep the decline in Romania at about 5% against 2020, without the inclusion of the initiative of optimisation of the portfolio ( 2020: under 5%).


The total sales of refined products are estimated to be high as compared to 2020 (2020: 5 million tons).


The electrical unit in Brazi will start the planned revision during Q2 this year