In the fourth quarter alone, Rompetrol posted a loss of $41.8 million, substantially narrower from $144.8 million in the same quarter of 2011.
Rompetrol said earnings before interest taxes depreciation and amortization, or EBITDA, rose to $76.83 million in 2012, from $5.86 million a year earlier, helped by increase fuel margins.
The company reported a consolidated net turnover of $3.84 billion in 2012, down 2% on the year.
“The results were negatively affected by a series of external factors, including a weaker leu, higher working capital costs and higher international prices,” Rompetrol said in its financial report.
Rompetrol’s IFRS results are unaudited and include the results of Rompetrol Rafinare S.A. and those of its subsidiaries, Rompetrol Petrochemicals, Rom Oil S.A., Rompetrol Downstream, Rompetrol Logistics and Rompetrol Gas.
Broken down by core business, Rompetrol’s refining segment reported a net loss of $118.7 million in 2012, compared with a loss of $171.5 million in 2011.
The refining segment consisting of Rompetrol Refining – Petromidia Refinery and Vega Ploiesti, reported combined gross turnover of around $4.27 billion, 4% higher on the year.
Fuel sales in the segment rose 7% to 2.8 million tons, of which 46% were exported, Rompetrol said.
The marketing sector posted a net loss of $37.8 million in 2012, compared to a loss of $51.5 million in the previous year.
Rompetrol said the results were negatively affected by a 4% decline in fuel volumes.
In the petrochemical sector, Rompetrol reported a net loss of $21.5 million in 2012, significantly narrower from $41.6 million in 2011. Pretax revenues in the segment fell 30% on the year to $247.3 million, hurt by increased market volatility in the first two months of the summer.
Rompetrol Rafinare is part of Dutch-headquartered The Rompetrol Group, which is fully-owned by Kazahstan’s KazMunayGas.
On the Bucharest bourse Thursday, Rompetrol Rafinare closed down 1% at RON0.0495 a share.