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CONPET SA - COTE

2018 Q3 report

Release Date: 11/14/2018 8:04:42 AM

IRIS Code: 7A224

CONPET SA

No. 1-3 anul 1848 Street, Ploiesti, Prahova, Romania

TIN RO 1350020

NACE Code 4950

CRN J29/6/22.01.1991

Subscribed and paid-up share capital 28 569 842.40 RON

 

To: The Bucharest Stock Exchange

Phone no. +40 21.307.95.00/ Fax no. +40  021.307.95.19

 

The Financial Supervisory Authority 

Phone no. +40 021.659.60.57/ Fax no. +40 021.659.64.36; 021.659.60.51

 

 

Financial Results for the nine months period ended September 30, 2018

 

 

 

CONPET SA registered, within the first 9 months of 2018, a turnover of 283.69 mRON, higher by 0.4% YoY and 1.9% higher than the budget provisions.

Within the first 9 months of 2018, the company’s net profit decreased by 25.7% (15.2 mRON) as compared to 9 months 2017  ( 9 months 2018:  43.7 mRON; 9 months 2017: 58.9 mRON). As compared to the budget provisions, the net profit increased by 35.9%.

At 30.09.2018, the operating revenues knew a slight increase by 0.2% vs. 9 months 2017 (308.6 mRON 9 months 2018, from 308.1 mRON 9 months 2017), following the increase of the transport revenues by 0.4% (280.1 mRON 9 months 2018 from 278.9 mRON 9 months 2017). As compared to the budget provisions, the operating revenues increased by 2%.

The operating expenses achieved during January - September 2018 recorded an increase by 8.2% YoY (260.6 mRON 9 months 2018 from 240.9 mRON 9 months 2017) and by 2% as compared to budget.

 

The operating expenses registered within the first nine months of 2018 were influenced by price increase in electricity and natural gas, the increase of the personnel expenses following the negotiation of a new collective labor agreement, respectively the increase of the monthly gross average earnings per employee from 4,004 RON/employee to 5,086 RON/employee.

The approval of the augmented transport tariffs by a delay of almost three months had unfavorable effects over the financial results. During the time until the approval of the new tariffs, the company applied tariffs that did not cover the increases in salaries and prices, thus registering a diminution of the profit margin achieved within the first nine months of 2018.

 

Financial Results

Indicators (thousand RON)

 

9 months 2018

BUDGET 9 months 2018

9 months 2017

Variation % 9 months 2018/

Budget

Variation % 9 months 2018 /2017

Quarter III 2018

Quarter III 2017

Variation % 2018 Q3/2017 Q3

Net Turnover

283,692

278,349

282,510

1.9%

▲0.4%

98,761

96,196

▲2.7%

Operating Revenues

308,619

302,534

308,138

2.0%

▲0.2%

108,642

105,535

2.9%

Operating Expenses

260,572

265,853

240,877

2.0%

▲8.2%

83,850

78,702

6.5%

EBITDA

81,343

69,942

100,684

▲16.3%

▼19.2%

35,846

37,976

▼5.6%

Operating Profit (EBIT)

48,047

36,681

67,261

▲31.0%

▼28.6%

24,792

26,833

▼7.6%

Total revenues

312,383

303,748

310,803

▲2.8%

▲0.5%

110,033

106,279

▲3.5%

Total expenses

260,578

265,928

240,911

▼2.0%

▲8.2%

83,852

78,716

6.5%

Gross Profit (EBT)

51,805

37,820

69,892

▲37.0%

▼25.9%

26,181

27,563

▼5.0%

Net Profit

43,718

32,160

58,873

▲35.9%

▼25.7%

22,092

23,106

▼4.4%

The Financial Statements prepared at 30.09.2018 have not been audited.

 

Director General

eng. Timur – Vasile CHIS

S.s. Illegible

Stamp

 

Economic Director

econ. Sanda Toader

S.s. Illegible

 

 

 



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