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MV Petrom Group has reported RON 9.156 billion in net profit nine months into 2022, more than five times higher than the one reported in the same period last year, of 1.676 billion lei, amid high prices for coal and natural gas, according to the company's unaudited financial reports for January - September and Q3 2022 published on Friday on the website of the Bucharest Stock Exchange (BVB).
In Q3, the net profit was RON 4.51 billion, as against RON 2.898 billion in the previous quarter and RON 696 million in Q3 2021, told Agerpres.
Consolidated sales revenues increased by 170% to RON 18,667 million as against Q3 2021, mainly supported by higher commodity prices and higher sales volumes of electricity, partly compensated by lower sales volumes of natural gas.
Refining and Marketing made up 49% of total consolidated sales, Gas and Power segment accounted for 51%, while Exploration and Production sales accounted only for 0.1% (sales in Exploration and Production being largely intra- group sales rather than third-party sales).
The net financial result was a gain of RON 100 million in Q3 2022 as against a loss of RON 152 million in Q3 2021, mainly due to higher interest income on bank deposits. As a result, the profit before tax for Q3/22 was RON 5,302 million, significantly above the Q3 2021 value of RON 827 million.
