Oil Terminal Net Profit Grows Eight Times in 2019, to RON2.4M

Romanian oil storage and shipment firm Oil Terminal Constanta (OIL.RO) posted a net profit of RON2.4 million in 2019, eight times higher than in 2018, and its turnover grew 15.1%, to RON168 million.

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The company said its operating expenses stood at RON162.1 million in 2019, up 13.3% on the year, and its EBITDA grew 33%, to RON24.7 million.

In 2020, Oil Terminal expects total revenues of RON175 million, up 3% on the year, and targets a net profit of RON3.6 million.

In summer 2019, U.S.-based investment fund Amerocap said it planned to invest up to $200 million in Oil Terminal and possibly acquire the majority stake and subsequently boosting the share capital but has taken no action so far.

Oil Terminal is 59.6% owned by the Romanian state.

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