The SLOVNAFT Group increased its export sales during the first quarter
In the first quarter of this year, the SLOVNAFT Group increased export sales of oil products on an annual basis by eight per cent – to one million tons. More than 76 per cent of total product sales were directed at exports. In addition to the traditional export markets, such as Austria, the Czech Republic, Poland and Germany, part of the production was also exported to new markets in Western Europe. Sales on the domestic market in the first three months of the year reached 309,000 tons. Total sales volume of oil products during this period increased by 3 per cent to 1.31 million tons.
Despite growth, the demand for oil products is for long-term period marked by persistent low economic activity. “An additional impact on the consumption of oil products was an exceptionally long winter, limiting domestic demand, as well as demand from manufacturing, construction industry, international transportation and agriculture,” said Oszkár Világi, Chairman of the Board of Directors and CEO of SLOVNAFT.
Net sales of the SLOVNAFT Group in the first three months of 2013 remained almost unchanged, on an annual basis – reaching EUR 1.1 billion. The Group’s net profit fell to EUR 10 million from EUR 41 million in the first quarter of 2012.
“In 2013, the SLOVNAFT Group continues, as well as other partner organizations of the MOL Group, working on the New Downstream program, designed to implement measures for reducing costs, and at the same time increasing revenues from commercial activities. In concert with maintaining refining and petrochemical production links, we will continue in our main project, the construction of a new polyethylene production line in Bratislava,” said Oszkár Világi.
In the first quarter, capital expenditures of the SLOVNAFT Group decreased by almost two-thirds, on an annual basis – to EUR 9 million. This was due to the completion of the modernization and reconstruction of the heating plants project, as well as completion of reconstruction of storage tanks. Most of the investments were directed into the petrochemicals sector.
In the first three months of this year, the Slovnaft refinery in Bratislava processed 1.37 million tons of crude oil, which was 5 per cent less than during the same period last year. Petrol production in the first quarter of 2013 fell by 2 per cent, on an annual basis – to 325,000 tons. Diesel production reached 691,000 tons, which is an annual decrease of 6 per cent. A decrease was also registered in the production of petrochemicals, by 4 per cent – to 89,000 tons.
In the first quarter of 2013, the company opened one new petrol station on the D1 Highway, and thus now operates 210 petrol stations. The retail sales network will be further extended in 2013 by two new filling stations on D1 Highway.
At the end of March, the SLOVNAFT Group had 3,296 employees, and its network of petrol stations was staffed by about 1,700 additional employees of business partners.
For more information on the results of SLOVNAFT Group visit:
http://www.slovnaft.sk/en/about_slovnaft/for_investors/
Contact:
Anton Molnár
Spokesperson and Director of Corporate and Marketing Communications
cell: +421 905 393 161
email: This email address is being protected from spambots. You need JavaScript enabled to view it.
About SLOVNAFT Group
SLOVNAFT Group is an integrated refinery-petrochemical group. The most powerful company is SLOVNAFT, a.s. dealing mainly with refining in one of the most complex European refineries and with the wholesale and retail sale of motor fuels. Other members of the Group are SLOVNAFT MONTÁŽE A OPRAVY a.s., SLOVNAFT TRANS a.s., VÚRUP, a.s., CM European Power Slovakia, s.r.o. and other companies. SLOVNAFT Group is one of the biggest investors in Slovakia, its cumulative capital expenditure has amounted to nearly EUR 2 billion, at average, approx. 120 million per year since the mid-90th. Slovnaft operates the largest network of filling stations in Slovakia. Most of the company's production is exported, mainly to neighboring key markets and to the Western Europe. Group also exported basic plastics to the Middle and Far East. The company is a leader in Slovakia in the field of CSR and corporate philanthropy, significantly supports sport, culture, education, youth and revitalizing of environment. SLOVNAFT Group is a member of international MOL Group. Further information available at www.slovnaft.sk.