Bogdan Tudorache

According to the company’s report, OMV Petrom invested 14.5 billion euros in the period 2005-2018. The company contributed to the state budget in the same period by 27.8 billion euros. In the period 2007-2018, sustainability investments reached 52 million euros.

„In 2018 we had excellent performance, with an operating result of 5.2 billion lei, supported by continuous cost optimization, but also by reversing some depreciation adjustments. The cash flow from operating activities was of ROL 7.4 billion. We have fulfilled our investment growth promises with a cash flow from investment activities of ROL 4.3 billion, up 74% from 2017. We also paid dividends of 1.1 billion ROL for the financial year 2017, up 33% over the previous year. The extended cash flow after the payment of dividends was of 2 billion lei. In addition, our financial position remained very good, with cash reserves of 5.6 billion lei at the end of 2018, which puts us in a solid position, which allows us to finance strategic projects and distribute attractive dividends to our shareholders in the future,” says Christina Verchere, CEO of the company.

For 2019, OMV Petrom will invest 3.7 billion lei, 14% less than in the previous year. With 13,000 employees, the company is one of the top three largest employers in Romania, the document says.