Conpet also reported a turnover of RON533.6 million for 2024, higher by 10% against 2023 and up 0.6% compared to the predicted level.
On December 31, 2024 the operating revenue saw an increase of 12.1% to RON606.3 million compared to RON540.93 million in 2023. As compared to the envisaged level, the operating revenue edged 0.8% higher. Operating expenses surged 17.3% to RON556.77 million in 2024 compared to RON474.57 million in 2023.
“The increase in operating expenses was mainly driven by the increase in some operational expenses, of which we exemplify: rail transport services, expenses calculated on the basis of revenues (oil royalty and modernization quota), personnel expenses, as well as provisions increases and value adjustments for current assets and fixed assets (amortization),” the report reads.
The 2024 operating profit reached RON49.51 million, 2.9% higher than the budgeted level. Compared to 2023, the operating profit plunged 25.4% to RON16.9 million. The gross profit saw a decrease of RON17.23 million (-23.7%) versus 2023 and an increase of RON2.96 million (+5.6%) against the budgeted level.
Conpet is valued at RON684 million and is 58.7%-owned by the Romanian State, through the Ministry of Energy. COTE shares have traded 4.8% higher so far in 2025, amid deals worth RON3.3 million, in line with stock market data.