OMV''s petrol stations network in Romania last year registered net income worth 7.2 million euros, down 15% compared with 2004.
Turnover logged by the company reached a level of 345 million euros, 76% higher than in 2004.
The company''s representatives could not be contacted for comment on these financial results. OMV Romania Mineraloel, the company that had operated the domestic stations network of the Austrian group since 1999, has been this year taken over by Petrom.
The 15% income decline OMV Romania announced contrasts with the figures reported by other rivals. Petrom, Rompetrol, Agip, MOL reported higher turnover and profits, thanks to the rising oil quotes and the liberalisation of prices at the pump domestically.
Net cumulated gains of all oil operators at the end of last year got close to 500 million euros, and their turnovers topped 7 billion euros, according to some estimates.
The year 2005 was the last year when OMV Romania Mineraloel operated on the domestic market as an independent player. In the first quarter of this year the company''s operations were integrated into Petrom''s structure, which is in its turn part of OMV Austrian group.
Petrom acquired the petrol stations OMV owns in Romania, Bulgaria and Serbia Montenegro in a deal worth 234.4 million euros.
Petrom officials announced petrol stations would continue to operate under the OMV name, as the OMV brand is very well known on the above-mentioned markets, but they would be financially integrated into the structure of the Romanian company.
OMV entered the Romanian market seven years ago, building its own network of filling stations, comprised of approximately 75 stations, according to the latest data available.
OMV in December 2004 took over the majority stake in Petrom in a deal totally worth 1.5 billion euros.
Petrom ended last year with net income worth 391 million euros, amid turnover standing at 2.97 billion euros.
In the first quarter of this year, the company reported net income worth 247 million euros and 877 million-euro turnover. For this year, Petrom targets net income worth 552 million euros and turnover topping three billion euros.
The 51% stake in Petrom Austria''s OMV owns is now worth over 4 billion euros, compared with the 1.5 billion euros paid for the takeover of the domestic company.
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