Petrom delivers on expectations in Q1 2024
Key Message
The company reported a clean CCS operating profit of RON 1,769 mn, marking a
16% decline YoY and a 21% decrease quarter-over-quarter.
The performance decline was primarily driven by slightly lower oil prices,
significantly reduced gas and electricity prices, and normalizing refining margins.
These external factors, already anticipated in market expectations, likely explain
why the company's results aligned closely with forecasts.
The quarterly report revealed no major positive or negative developments that
were not already known
Concorde Securities Ltd. is Hungary’s leading independent company engaged in investment banking activities. It provides its clients with integrated financial services, including securities trading, research, corporate financing advisory, capital market transactions, wealth management and investment advisory. The operational management of the company is the responsibility of the CEO, while the owners/managers (who control one-third of the company through their shares and options) are in charge of its strategic governance. Concorde Securities Ltd. is a member of the Budapest, Frankfurt, Warsaw and Bucharest stock exchanges, as well as of the Hungarian Association of Investment Service Providers.
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