Oil Terminal will yield a net profit of over 5.09 million lei, down 66.9 percent as compared to 2016, according to unaudited financial reports posted by the Bucharest Stock Exchange (BVB) on its website.
"For 2017, an amount of 25.384 million lei is provided for investment spending at the level of the investment funding source (respectively 25.384 lei), of which reimbursement of investment loans amount to 1.815 million lei and investment spending worth 23.569 million lei. On 31 December 2017, the achieved value level of the investment objectives stood at 28.973 million lei, by 22.9 percent higher than the planned level (23.569 million lei)," reads the document.
In 2017, y-o-y, revenues from supplied services recorded a 2.3 percent decrease (to 155 million lei), due to the 4.6 percent drop of undertaken quantities.
The company's turnover amounted to 158 million lei, down by 1.6 percent.
Oil Terminal SA Constanta holds a strategic position in the Black Sea region, being the largest operator at sea specialised in handling crude oil, liquid petroleum and petrochemical products and other products and raw materials aimed at import/export and transit.
The company's main shareholder is the Romanian state through the Energy Ministry, that owns 59.62 percent of the share capital.