- Investments pick up by 163% to RON 2,937 mn [EUR 833 mn]
- EBIT up by 47% to RON 2,777 mn [EUR 788 mn]
- EPS (Earnings per share) growth of 62% to RON 0.0405
Petrom, the largest oil and gas producer in South Eastern Europe, reports good results for the year 2006, despite the weakening and volatile environment in downstream. The high crude quotations in combination with continuously growing sales contributed to the 47% yoy rise of the EBIT to RON 2,777 mn [EUR 788 mn]. The investments had a significant increase, by 163%, as a result of the retail network expansion as well as growth, modernization and development projects in E&P.
Mariana Gheorghe, CEO: “Our results for 2006 are very good and mark a step forward in reaching our overall objective of positioning Petrom as leading oil and gas company in South Eastern Europe. It is the second year in a row when the company records great performance and this proves our responsible approach , the fact that restructuring is on track, as well as the consistency of our strategy and our determination to reach our objectives. In 2006 investments went up by 163% comparing to last year and we will keep a constant rhythm of investments in order to secure the sustainable development of our company and thus contributing to the security of energy supply for Romania.”