Moreover, the fuel retailer is close to hitting the EUR1 billion turnover mark, after the company’s sales reached EUR930.8 million (RON4.1 billion) last year, up by over 25% against 2011. Market demand for gasoline and diesel oil fell 2-3%.
According to data supplied by the Trade Registry, MOL had 188 employees in Romania at the end of last year.
In 2012 MOL sold 469,000 tons of fuel, 338,000 of which are accounted for by diesel oil. Diesel oil volumes were up 6% on 2011. Gasoline sales were flat.
The retail segment covers around 70% of the Romanian fuel market, with sales of around 6 tons of gasoline and diesel oil per year.
Fuel demand fell by 2-3%, according to figures supplied by players in the sector. But even so, gasoline and diesel oil prices continued to rise.
ZF calculations show that the average price of gasoline went up by around 8% in 2012, while the price of diesel oil rose by more than 15% in lei.
In the first quarter of the year major fuel retailers continued to increase the pump price of fuel, although the estimates made by companies in the sector at the beginning of 2012 showed that even under the most optimistic scenario, consumption was set to be flat after the 2012 decline.
In addition to boosting its volume sales, MOL also continued its expansion on the Romanian market, with its target being to reach a market share of 12 to 15% by 2015.
So last year the company invested EUR7 million in 7 new fuelling stations, with MOL Romania having 135 filling stations at the end of 2012. MOL’s expansion continued this year, with the company opening 3 new filling stations since the beginning of 2013.
MOL Romania is one of the few profitable companies on the fuel retail market, with 2011 being the only loss-making year of the past five years.
The losses followed a record-high fine charged by the Competition Council, which targeted all companies in the sector.
Alongside fuel retail, MOL also operates in Romania in hydrocarbon exploration and production.
(English version by Daniela Stoican)