• historical record of processed raw material (3.3 million tons), rising by 16%
• minimum history of energetic consumptions, lower by 13%
• minimum historical level of technological losses, dropping by 20%
• turnover rising by 52%, following the activity development and the sales of a significant quantity of products through the own network and that of partners
• the development of a fuel distribution network (own stations, Rompetrol Partner, Expres stations) at more than 420 units
• promotion of a new concept of an internal basis with capacities of 9 and 20 m3 (Rompetrol Downstream is currently operating more than 150 stations of this type)
• extension of the distribution network for car LPG in 220 points by taking over the profile assets of the company group Crimbo
• doubling the processed quantity of ethylene
• increase of turnover by 61%
Rompetrol Rafinare, member of the Rompetrol Group registered within the period January – September a consolidated turnover of USD 3.76 billion*, rising by 63% versus the value recorded within the similar period of 2007. The EBITDA of the company rose to USD 79 million.
The results have been strongly influenced by a series of external factors, independent from the activity of the refinery. Among them are also the record evolution of crude oil, rising by more than 65% versus the period January - September 2007 that determined an increase of the working capital and of the related financing, the foreign exchange differences based on the depreciation of the national currency, as well as the influences of the international financial crisis (e.g. increase of interests and of the terms to warrant credits).
The refining segment registered within the period January - September 2008 a record level of 3.3 million tons of processed raw material, rising by 16% versus the similar period from 2007, also considering that the refinery was shut for 10 days in July to revamp certain facilities. For this year, the company plans to process a quantity of 4.1 million tons of raw material (3.94 million tons of crude oil) and by 2010 it intends to reach 5 million tons/year.
The fuel production related to the refining segment within the period January – September increased by 9 % versus the similar period from 2007, up to a level of more than 2.26 million tons.
As of the moment of taking over the Petromidia refinery in 2001 and by 2007, the amount of the technological and environment investments accomplished by the Rompetrol Group on the Petromidia platform have increased to more than USD 350 million. For 2008, the total estimated value of the investments necessary for the development of the activities and the rendering efficient of the technological flow is of USD 115 million.
The turnover earned by the distribution segment (Rom Oil, Rompetrol Downstream and Rompetrol Logistics) rose within the first nine months of the year to over USD 1.94 billion, rising by 52% versus the similar period from 2007. The fuel sales were concurrently increased by approximately 9%.
Rompetrol Downstream continued in the 3rd quarter as well the development strategy on the domestic fuel market, currently operating more than 420 fuel distribution stations (own stations, Partener Rompetrol, Expres stations) and approximately 150 internal bases with a capacity of 9 or 20 m3.
Rompetrol Gas, a subsidiary of the company Rompetrol Logistics, has also extended its distribution network for car LPG to 220 stations, by taking over the profile assets of the company group Crimbo. The company also currently holds more than 5,000 points for the distribution of gas cylinders and 2 LPG bottling stations in Constanţa and Arad and at the end of the year it is to open a similar one in Bacău.
The petrochemical segment represented by Rompetrol Petrochemicals, registered within the period January – September a record increase of the turnover by 61% versus the first nine months of the previous year and the EBITDA was directly influenced both by the unfavorable market conditions and the high productions costs. Although the company registered a record increase by 40% of the sales of finished products (182,000 tons), the related profit margins were marked by the evolution of the markets and of the business environment on the background of the international financial crisis.
Within the first nine months of the year, Rompetrol Rafinare continued to be a significant taxpayer to the State budget and the total amount paid by the company was of USD 940 million, by 23% more than last year. Since the privatization of the company up to now, the total value of the duties paid by the company to the State budget and other special funds rises to approximately USD 4.7 billion.
* The consolidated financial statements of Rompetrol Rafinare include the results of Rompetrol Rafinare S.A. and such of the subsidiaries Rompetrol Petrochemicals S.R.L., Rom Oil S.A., Rompetrol Downstream S.R.L. and Rompetrol Logistics S.R.L. (in liaison with the subsidiaries Rompetrol Gas S.R.L. and Eurojet S.A.).
** The produced results are preliminary, non-audited and consolidated and the reporting was performed according to the International Financial Reporting Standards (IFRS).