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

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

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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