KMG International, historical records in the first 9 months of 2017
KMG International (KMGI) has recorded a net profit of $77.2 million, during the first 9 months of the year, a value over six times higher than the 12.3 million recorded between January and September, in 2016, due to a 28% increase in turnover, by $6.4 billion.
The Group represeantatives say this is these are record technological and financial results, unique figures in its approximately 20-year-old history.
“During the last 5 years, due to the large-scale business transformation program, we have modernized our production units, transformed and extended the gas stations network but also improved the entire management model for the business, bringing the Company to a new level of quality and performance”, says Zhanat Tussupbekov, KMG International CEO.
The Group has recorded an operational profit (EBITDA) of $180 million*, during the first 9 months of the year, a figure 24% higher than the respective result from the similar period of 2016. In 2016, KMG International’s EBITDA was approximately $204 million.
„Thus, since 2012, KMGI has been constantly improving its oprational indicators (the quantity of necessary raw materials, the volume of petroleum products sold, the reduction and optimization of the necessary production and distribution costs), but also its financial ones – EBITDA and net profit”, says the Group report.
In the context of a planned shutdown of Petromidia Năvodari and Vega Ploieşti refineries in May, the production units have recorded a quantity of 4.2 million tons of raw materials processed in the first nine months of the year (+2%).
Between June and September, Petromidia refinery processed an average of 15,150 tons of crude oil per day.
Currently, Rompetrol Rafinare operates Petromidia Navodari – the largest refinery in Romania and one of the most complex and modern ones within the Black Sea region, Vega Ploiesti – the oldest working refinery (1905) and the only internal producer of bitumen and hexane, but also the petro-chemical division – the sole producer of polymers.
The company is mainly owned by KMG International (54.63%; directly and indirectly) and the Romanian State, through the Ministry of Energy (44.69%)
This year, Rompetrol Rafinare established a goal of refining a volume of around 5.6 million tons of raw materials, an increase of 4.5% compared to the historical level obtained in 2016.
At the same time, the company plans to commercialize approx. 5.3 million tons of petroleum products, out of which, approx. 83% are motor fuels (gasoline – 1.4 million tons, diesel – 2.76 million tons, jet fuel – 241,000 tons).
The retail component of the Group has recorded an all-time high volume of approximately 2.1 tons of fuel (gasoline, diesel, jet fuel) in Romania, Moldova, Bulgaria and Georgia, rising by over 10% compared to the recorded value between January and September 2016.
Last year, the total figure reached by the company was of 2.9 million tons, 15% more than the one recorded in 2015.
In the first nine months of the year, the total amount of fuel sold in Romania, through the distribution channels (retail, wholesale) has increased by approximately 12%, going up to 1.8 million tons.
Based on preliminary data, the total sales of fuel between January and October have reached a record level, of around 2.7 million tons, over 11% more than the amount sold in the similar period of 2016.
Over those 10 months, Rompetrol Downstream has recorded a 7% increase of volume, and the subsidiaries from Bulgaria, Moldova and Georgia one of 12%.
At the end of June, the distribution segment of Rompetrol Downstream encompassed 789 trading points, including the network of Rompetrol gas stations and Rompetrol Partner stations, mobile Rompetrol Express stations, internal bases of 9 and 20 cubic meters. The Rompetrol network consists of 140 units currently, out of which 111 have already implemented the Hei restaurant concept.