In 2017, OMV Petrom (Petrom) reached a 10% ROACE and generated FCF after dividends of EUR 584 mln (with EUR 189 mln dividends). The company’s net cash position amounted to approximately ca. RON 3.3 bln at the end of 2017. Sales increased by 17% YoY in RON, supported by higher commodity prices and increased sales volumes of natural gas (+2% YoY) and refined products (+3%), including a 5% increase in retail sales volume, which was partly offset by lower sales volumes of electricity (-8% YoY). For the Petrobrazi refinery, the utilization rate stood at 93%, whilst the loss rate was below 9%.
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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