Rompetrol Rafinare recorded a consolidated gross turnover of approximately $5.2 billion, close to that achieved in 2018. Operational profit (EBITDA) decreased by 12%, to $131 million.
The declining financial indicators were mainly influenced by the fluctuations of the refining margin and the macroeconomic factors in Romania (7.5% depreciation of the RON/USD exchange rate, inflation of 4% in 2019), as well as the volatility of quotations on the international market of raw materials and finished petroleum products.
In 2019, the two refineries owned by the group, Petromidia Navodari and Vega Ploiesti, registered a 7% growth in total volumes of raw materials processed. In 2019, the gross turnover of the refining segment exceeded $4.4 billion, similar to 2018. Operational profit (EBITDA) was $108 million, down 15% from the one recorded in 2018. The refinaing segment posted a net loss of $16.8 million.
The distribution segment recorded a gross turnover of $3.07 billion, similar to the level reached in 2018. Operational profit (EBITDA) increased 37%, to $51.5 million, nearly $14 million higher than in 2018. the segment recorded a net profit of $18.6 million, up 65% compared with 2018.
Retail fuel sales increased from 714 kt in 2018 to 789 kt in 2019, and wholesale volumes increased 4%, from 1.25 million tons, to almost 1.3 million tons.
Rompetrol Downstream continued the expansion of its fuel distribution network and the rebranding of petrol stations. Rompetrol had a network of 964 units at the end of 2019, compared with 918 in 2018, including its own stations, partner stations and mobile stations.