Rompetrol Rafinare, a member company of the KMG International Group, recorded a net loss in the amount of 132.8 million dollars in the first quarter of 2022, compared to a loss of 14.7 million dollars in the same period last year.
The company also posted negative earning before interest, taxes, depreciation and amortization (EBITDA) in the first quarter of 86.7 million dollars, compared to a positive EBITDA of 29.5 million euros in the first quarter of 2021.
The company’s total revenues rose by 16 % year-on-year to 1.169 billion dollars, mainly due to higher petroleum products quotations.
Petromidia refinery recorded a decrease in the volume of raw materials processed in the first quarter of 2022, dropping from 1.265 million tons in Q1 2021 to 980,000 tons. Meanwhile, Vega refinery recorded approximately the same volume of processed raw material as in Q1 2021 – 69,000 tons.
Rompetrol Rafinare’s distribution segment recorded net losses in the amount of 13.1 million euros, compared to a profit of 2.61 million dollars last year. At the end of March 2022, Rompetrol Rafinare had a fuel distribution network consisting of 1,217 points of sale, including its own stations, partner stations, and mobile stations.
