Petrom slightly exceeded expectations in Q2 2024
Key Message The company reported a clean CCS operating profit of RON 1,379 mn, marking a
15% decline YoY and a 11% decrease quarter-over-quarter.
The decline was primarily driven by the weak performance of the Gas & Power
segment due to lower sales, higher gas storage obligations, and a decreased
refining indicator margin in the R&M segment, partially offset by higher
hydrocarbon prices, increased refined product sales, and higher retail and
commercial margins in R&M.
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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