The estimates are inclued in the spending and revenue budget on the corporate website.
“Sales revenues will be significantly below actual 2022 for all operating business segments in the context of lower sales volumes and drop in commodity prices. Operating result in 2023 is expected to drop significantly driven mainly by the lower level of sales revenues. Net financial result is expected to improve to a gain of RON79 million in 2023 compared with RON64 million in 2022. Continued focus on investments mainly directed to creating growth opportunities for the future will lead to an increase in fixed assets. Equity is expected to increase following improvement in net income despite increase in planned dividend payment.”
The company budgeted RON6.8 billion investments in 2023 compared with RON3.3 billion in 2022.
Petrom sees production of hydrocarbon decreasing by 8.5% and natural gas production down by 12%.
Natural gas sales are expected to shrink by 14.1% compared with 2022, following lower equity production and less trading. Net electrical output should decrease by 3.5% compared with 2022, due to a longer planned outage of the Brazi power plant.
OMV Petrom is 52% held by Austria’s OMV and 20.7% by the Romanian government, while pension funds own about 13%.
(English version by Loredana Fratila-Cristescu)