The fuel distribution segment of Rompetrol, controlled by businessman Dinu Patriciu, at the end of last year stepped into the black, after it reported net profit worth 2.9m dollars (1.97m euros) against losses worth 13.8m dollars (9.38m euros) in the previous year.
Turnover stood at 1.8bn dollars (1.2bn euros) at the end of 2007, up 35% on the same period in 2006. The results released are consolidated, unaudited and calculated in line with international accounting standards, which take into account the performances of Rompetrol Downstream, Rom Oil and Rompetrol Logistics.
"The company's turnover followed an upward trend in 2007 due to a higher number of customers (intensive growth) and the expansion of the filling station network (extensive growth)," explained Rompetrol Downstream representatives.
Rompetrol forecasts sold volumes to go up by 20% in 2008 year on year, which would place the company just two percentage points behind its main rival, Petrom, in terms of market share.
Rompetrol intends to triple its number of filling stations by 2009 in comparison to Petrom, which has failed to announce an equally ambitious expansion plan for the domestic market. At present, Rompetrol's network consists of 400 filling stations, 115 of which are owned by the company. Petrom controls around 600 filling stations.
According to Rompetrol information, 1.24 million tonnes were sold last year through the distribution segment, both on the retail segment and the wholesale one. Last year, the oil product market stood at 5 million tonnes, whilst Rompetrol held 24.7% market share. With the market expected to reach 5.35 million tonnes this year (up 7% year on year) Rompetrol's market share will reach 28%.
At the same time Rompetrol embarked on a new strategy last year, after it agreed to supply major industrial customers on their own platforms. This is part of a common trend used by major companies to attract as many customers as possible.
"In 2007, the company launched a new project, Rompetrol Internal Basis, which introduced a petrol tanks onto the sites of clients' businesses. This project primarily targets customers in the constructions and agricultural sector. By the end of 2007 there were 65 of these internal stations," say Rompetrol Downstream's representatives, however, they did not specify the companies they worked with for this project.
Rompetrol Downstream is one of the few fuel suppliers that managed to end the year in profit. In the coming years, Rompetrol's international strategy aims to triple the number of filling stations from around 600 units at present, to 1,800 by early 2010.
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