COMPANIES ECONOMY ENERGY

Oil Terminal reports 14.5 million lei in H1 2016 profit

Oil Terminal has reported an H1 2016 net profit in excess of 14.5 million lei, up 41.4 percent from H1 2015, according to unaudited financial reports posted by the Bucharest Stock Exchange (BVB) on its website on Tuesday.

The company’s H1 2016 business turnover amounted to 78,628,030 lei. Compared with the year before, the increase in absolute value was of 14,272,141 lei. As of June 30, 2016, the pending adjustments for depreciation of tangible assets were cancelled with revenues from asset depreciation and frozen investment of 1,133,979 lei.

As of June 30, 2016, the average staff size was 942, with the total number of employees standing at 971. The staff size was down eight employees from June 30, 2015.

The Romanian Government via the Energy Ministry is holding a 59.62-stake in Oil Terminal. The subscribed and paid-up capital of the company is 58,243,025 lei divided into 582,430,253 ordinary shares of a face value of 0.1 lei each.

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