Earnings before interest and taxes grew 87% on the year, to RON3.754 billion, from RON2.012 billion in the same interval of 2010.
In the third quarter of the year, the group obtained a profit of RON1.1 billion, compared to a loss of RON116 million in the same interval of 2010. In the same timeframe, sales rose 23,6% to RON5.9 billion.
“”Overall, in Q3/11 we continued to benefit from a favorable crude price environment and the positive effects fostered by our strict cost management programs and improved operational performance. Throughout the quarter, our Group’s total hydrocarbon production was slightly higher compared to the same period in 2010. The restored growth of several commercial sectors in Romania supported our fuel and gas sales,” said the company’s chief executive officer, Mariana Gheorghe.
The price of Ural crude rose 45% on the year in January-September. (EUR1=RON4.3537)