The company’s turnover rose by 9% on the year in the first three months of 2022, up to RON127.7 million, the same level as the one projected in the budget of revenue and expenditure.
Operating revenue grew by 3.7% on the year in the first quarter of 2023, to RON138.2 million, while operating expenses increased by 5.8% to RON118.8 million. Its operating profit (EBIT) was 7.4% lower on the year in the first three months of 2023, reaching RON19.4 million, and the operating profit margin reached 14%, lower by 1.7%. The company’s EBITDA (earnings before interest, tax, depreciation and amortization) rose by 2.9% to RON33 million.
“The investment projects within CONPET target, mainly, enhancing efficiency of the transport activity as well as the operation, under safety conditions, of the National Transport System. During the three-month period ended on March 31, 2023, CONPET S.A. achieved investments in amount of RON39.6 million. The company’s strategic objectives are:
• Boost efficiency and improve the activity performance;
• Development of new activities, related and non-related to the core business;
• Defining the Company as a regional player;
• Outstanding management of the human resources;
• Implement and develop the corporate government principles.” in line with the report.
“Within the first three months of 2023, 3,733 stock market transactions were recorded, with a trading volume of 103,327 shares, the total value of the trades being RON7.62 million. During January – March 2023, the minimum trading price amounted to RON68.80/share and the maximum price RON75.80/share. On average, have been traded 1,640 shares/day, the average value of a trading day amounting to RON120,997/day (63 days). During the review period, the closing price of CONPET S.A. shares increased by 9.59%,” the report reads.
Conpet is 58.72%-owned by the Romanian State, through the energy ministry, and the remaining shares are held by private individuals and legal entities. The company has a market capitalization of RON689 million after its shares have gained 17.1% since the beginning of 2023, amid deals worth RON12 million, as per stock market data.