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CONPET SA - COTE

H1 2018 report

Release Date: 8/10/2018 8:00:10 AM

IRIS Code: C32D4

 

CONPET SA

No. 1-3, Anul 1848 Street, Ploiesti, Prahova, Romania

Tax Identification Number 1350020

NACE Code 4950

Registered at Prahova Trade Registry under number J29/6/22.01.1991

Subscribed and paid-up share capital 28,569,842.40 RON

 

 

Financial Results for the six months period ended June 30, 2018

 

 

CONPET SA registered in 2018 H1 a turnover of 184.9 mRON, lower by 0.7% YoY and 1.9% higher than the budget provisions.

Within the first 6 months of 2018, the company’s net profit decreased by 39% (14.1 mRON) as compared to 2017 H1 ( 2018 H1: 21.6 mRON; semester I 2017: 35.7 mRON). As compared to the budget provisions, the net profit increased  by 5.4%.

At 30.06.2018, the operating revenues knew a diminution by 1.3% vs. 2017 H1 (199.9 mRON 6 months 2018, from 202.6 mRON 6 months 2017), following the reduction of the transport revenues by 1.1.% (182.0 mRON 6 months 2018 from 184.1 mRON 6 months 2017). As compared to the budget provisions, the operating revenues increased by 1.6%.

The operating expenses achieved in 2018 H1 recorded an increase by 9% YoY (176.7 mRON 6 months 2018 from 162.1 mRON 6 months 2017) and by 2.1% as compared to budget.

The operating expenses registered in 2018 H1 were influenced by price increase in electricity and natural gas, the increase of the personnel expenses  following the negotiation  of a new collective labor agreement, respectively the increase of the monthly gross average earnings per employee from 4 004 RON/employee to 5 086 RON/employee.

The approval of the augmented transport tariffs by a delay of almost three months had unfavorable effects over the financial results. During the time until the approval of the new tariffs, the company applied tariffs which did not cover the increases of salaries and prices, thus registering a diminution of the profit margin achieved within the first six months of 2018.

 

Financial Results

 

Indicators (thousand RON)

2018 H1

(revised)

Budget 2018 H1

2017 H1 (retreated)

Variation % 2018 H1/

Budget

Variation % H1 2018 /2017

2018 Q2

2017 Q2

Variation %  Q2

2018/2017

Net Turnover

184,931

181,493

186,314

▲1.9%

0.7%

93,967

95,253

1.4%

Operating Revenues

199,977

196,905

202,603

▲1.6%

1.3%

100,913

103,294

2.3%

Operating Expenses

176,722

173,039

162,175

▲2.1%

9.0%

90,479

85,010

6.4%

EBITDA

45,497

46,205

62,708

▼1.5%

27.4%

21,453

29,474

27.2%

Operating Profit (EBIT)

23,255

23,866

40,428

▼2.5%

42.5%

10,434

18,284

42.9%

Total revenues

202,350

197,714

204,524

▲2.3%

1.1%

102,236

104,258

1.9%

Total expenses

176,726

173,089

162,195

▲2.1%

9.0%

90,482

85,020

6.4%

Gross Profit (EBT)

25,624

24,625

42,329

▲4.0%

39.5%

11,754

19,238

38.9%

Net Profit

21,626

20521

35,767

▲5.4%

39.5%

10,161

16,217

▼37.3%

 

 

The Financial Statements prepared at 30.06.2018 have been revised.

 

The H1 2018 report  can be consulted by accessing the following link:

 

 

 

 

 

Director General

Dan-Silviu BACIU, E.M.B.A.

S.s. Illegible

Stamp

 

 

 

 

 

 

Economic Director

Econ. Sanda Toader

S.s. Illegible

 

 

 

 

 

 

 



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