In the first nine months of the year, the company also registered a turnover of RON555 million, lower from RON570.5 million in January-September 2015.
EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) rose by RON30 million to RON64 million.
“These results were driven by increased quantity sales for all products manufactured, thus, at polyether polyold (the main product group with 65% of turnover), the quantity sold increased by 17%; Chlor-alkali, the quantity sold increased by 17%; Oxo-alcohols, the quantity sold increased by 40%,” the company said.
Although the company increased the volume of finished products sold compared to the same period of last year, the turnover is lower for nine months because of lower selling prices for petrochemical products on international markets. Oltchim SA achieves 74% of its turnover on intra-Community and export market, and evolution of the selling prices was driven by the fall in oil prices, Oltchim said.
Oltchim has been under insolvency since January 2013 and its reorganization plan stipulates its sale for at least EUR307 million. Oltchim halted operations in August 2012 in preparation for a privatization attempt, which failed after the auction winner refused to pay the price agreed with the authorities.
The chemical plant is 54.8% owned by the Economy Ministry, 32.34% by PCC SE, while other shareholders own the remaining stake of 12.85%.