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Iulian Ernst
Senior Editor

Iulian studied physics at the University of Bucharest, and he sees himself as a physicist in the broadest sense of the word. He also studied economics at Charles University in Prague and Central European University in Budapest, after a master’s program in business administration at Bucharest Academy of Economic Studies. Since recently, he’s been exploring coding and data analysis for business and economics. As a freelancer, he worked for nearly two decades as an analyst for ISI Emerging Markets, Euromonitor International, Business New Europe, but also as a consultant for OMV Petrom and UkrAgroConsult. Iulian was part of the founding team of Ziarul Financiar. At Romania Insider, which he joined in 2018, he is reviewing the latest economic developments for the premium bulletins and newsletters. He would gladly discuss topics such as macroeconomics, emerging markets, Prague, energy sector including renewable, Led Zeppelin, financial services, as well as tech start-ups and innovative technologies. Email him at iulian@romania-insider.com. 

 

 

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OMV Petrom's net profit up 122% in 2021, yet one-fifth below pre-crisis

Energy group OMV Petrom (SNP) reported for 2021 a net income attributable to stockholders 122% larger than in 2020, namely RON 2.86 bln (EUR 578 mln). This is still 21% behind the earnings reported in 2019, the last year before the crisis.

The company's management proposed a dividend of RON 0.0341/share for the 2021 financial year, which is a 10% year on year increase, at the high end of the 5-10% range stated in the dividend guidance. The dividend would result in a dividend yield of 7% based on the current price of SNP shares.

The dividend yield delivered by OMV Petrom to investors was 6.55 % in 2021 (paid out of 2020 FY profit), 8.49% in 2020 and 7.11% in 2019.

Group's sales revenues in 2021 rose by nearly one-third YoY (+32%) to just over RON 26.0 bln (EUR 5.25 bln), which is only a mere 2.6% above the 2019 revenues. Petrom's sales revenue in 2021 were indeed the highest since 2012 - when the company reported RON 26.2 bln (EUR 5.87 bln) and a net profit of RON 4 bln (EUR 900 mln).

Operationally, OMV Petrom's total hydrocarbon production plunged by 11% YoY in 2021, after the 5% YoY contraction in 2020, to 129.4 kboe/d in 2021 from 151.6 kboe/d in 2019. The production decreased mainly due to the divestment of production assets from Kazakhstan in Q2/21 and a high natural decline in the main fields in Romania.

In downstream, the refineries returned to 97% utilisation rate (4.97 mln tonnes crude refined) - the same as in 2019 before the crisis - after temporarily dropping to 92% in 2020. Besides the stronger demand, the technical outage of rival refinery Rompetrol Rafinare helped this.

But the amounts of gas sold dropped in line with the group's output (-14% in 2021).

The electricity generation gained momentum on favourable market conditions to 4.79TWh (+15% YoY) from 3.40TWh in 2019. The power generation reached 1.17 TWh in Q4/20, representing 11% in Romania's generation mix, the highest production share so far. 

iulian@romania-insider.com

(Photo source: Flickr/OMV Petrom)

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Profile picture for user iuliane
Iulian Ernst
Senior Editor

Iulian studied physics at the University of Bucharest, and he sees himself as a physicist in the broadest sense of the word. He also studied economics at Charles University in Prague and Central European University in Budapest, after a master’s program in business administration at Bucharest Academy of Economic Studies. Since recently, he’s been exploring coding and data analysis for business and economics. As a freelancer, he worked for nearly two decades as an analyst for ISI Emerging Markets, Euromonitor International, Business New Europe, but also as a consultant for OMV Petrom and UkrAgroConsult. Iulian was part of the founding team of Ziarul Financiar. At Romania Insider, which he joined in 2018, he is reviewing the latest economic developments for the premium bulletins and newsletters. He would gladly discuss topics such as macroeconomics, emerging markets, Prague, energy sector including renewable, Led Zeppelin, financial services, as well as tech start-ups and innovative technologies. Email him at iulian@romania-insider.com. 

 

 

The Capital Markets News section is powered by the Bucharest Stock Exchange 

 

BSE

 

 

OMV Petrom's net profit up 122% in 2021, yet one-fifth below pre-crisis

Energy group OMV Petrom (SNP) reported for 2021 a net income attributable to stockholders 122% larger than in 2020, namely RON 2.86 bln (EUR 578 mln). This is still 21% behind the earnings reported in 2019, the last year before the crisis.

The company's management proposed a dividend of RON 0.0341/share for the 2021 financial year, which is a 10% year on year increase, at the high end of the 5-10% range stated in the dividend guidance. The dividend would result in a dividend yield of 7% based on the current price of SNP shares.

The dividend yield delivered by OMV Petrom to investors was 6.55 % in 2021 (paid out of 2020 FY profit), 8.49% in 2020 and 7.11% in 2019.

Group's sales revenues in 2021 rose by nearly one-third YoY (+32%) to just over RON 26.0 bln (EUR 5.25 bln), which is only a mere 2.6% above the 2019 revenues. Petrom's sales revenue in 2021 were indeed the highest since 2012 - when the company reported RON 26.2 bln (EUR 5.87 bln) and a net profit of RON 4 bln (EUR 900 mln).

Operationally, OMV Petrom's total hydrocarbon production plunged by 11% YoY in 2021, after the 5% YoY contraction in 2020, to 129.4 kboe/d in 2021 from 151.6 kboe/d in 2019. The production decreased mainly due to the divestment of production assets from Kazakhstan in Q2/21 and a high natural decline in the main fields in Romania.

In downstream, the refineries returned to 97% utilisation rate (4.97 mln tonnes crude refined) - the same as in 2019 before the crisis - after temporarily dropping to 92% in 2020. Besides the stronger demand, the technical outage of rival refinery Rompetrol Rafinare helped this.

But the amounts of gas sold dropped in line with the group's output (-14% in 2021).

The electricity generation gained momentum on favourable market conditions to 4.79TWh (+15% YoY) from 3.40TWh in 2019. The power generation reached 1.17 TWh in Q4/20, representing 11% in Romania's generation mix, the highest production share so far. 

iulian@romania-insider.com

(Photo source: Flickr/OMV Petrom)

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