Its EBITDA reached USD988,520 in 2020, from USD131.1 million in 2019, at an EBITDA margin of 0.0%, compared with 3.4% in 2019.
Gross revenues of refining segment reached over USD760 million in the fourth quarter of 2020 and over USD2.73 billion in 2020 showing a 31% decrease quarter-on-quarter, and a 38% decrease year-on-year in January-December 2020.
“Year on year variance was mainly influenced by the decrease of international oil & gas market quotation evolution of petroleum products, alongside decrease in the volume of products sold, in the context of COVID-19 pandemic,” the company said in its report.
Dated Brent decreased by -18.9$/bbl. (-30%) in Q4 2020 as against Q4 2019 and settled to an average of 44.16$/bbl. and decreased by -22.4$/bbl. (-34.8%) in 2020 as against 2019 and settled to an average of 41.84$/bbl.
In 2020, the refining capacity utilization in Petromidia refinery was 71.8%, lower by 25.7% as compared with previous year.
Rompetrol Rafinare, with a market value of RON2 billion, is 48.1% held by KMG International Group and 44.7% owned by the Romanian State.
Rompetrol Rafinare shares have been trading up 3.4% since the beginning of 2021, amid deals worth RON314,260, per stock market data.