The takeover was part of a regional deal and the announcement thereof came last summer. At the time the parties did not reveal the value of the transaction.
“In H1, 2015, the Group successfully completed the acquisition of ENI Romania, including 42 service stations, further strengthening MOL Group’s market share in Romania. As a result of integrating the acquired network, MOL Group will reach a network of 201 units in Romania,” reads the report published on Wednesday.
The same document reveals MOL paid HUF15.531 billion or EUR50 million at the average exchange rate of last year for ENI Romania.
MOL officials did not comment on the information by press time. The report also says the ENI Romania assets acquired were worth HUF16.201 billion (EUR52.5 million).
The Agip gas station takeover helped MOL Romania achieve 19% higher sales in the second quarter of the year. This is the second highest growth in volume in the second quarter, after the growth of the operations in Czech Republic.
“Strong increase was experienced in the Romanian and Czech market, where the retail volumes were boosted by 19% and 111% in Q2 against the similar period of 2014. This is mainly the result of the inorganic network expansions (42 service stations in Romania and 44 service stations in the Czech Republic).”
In all, MOL Romania’s sales went up 13% in volume in the first half, with the company selling about 267,000 tons of gas and diesel through its 201 stations.
MOL Romania posted 4.3 billion lei (almost EUR1 billion) revenue and RON94.3 million net profit in 2014.
(English version by Loredana Fratila-Cristescu)