Rompetrol Rafinare's results in the first 9 months of 2025
|
Consolidated indicator * |
|
9 months 2025 |
9 months 2024 |
|
Gross turnover |
USD |
4,443,759,919 |
3,572,094,536 |
|
EBITDA |
USD |
175,035,971 |
125,280,246 |
|
Net result |
USD |
(20,647,592) |
(66,702,425) |
*Note: The consolidated financial statements of Rompetrol Rafinare include the results of Rompetrol Rafinare S.A. and those of the subsidiaries Rompetrol Quality Control S.R.L., Rom Oil S.A., Rompetrol Downstream S.R.L., Rompetrol Logistics S.R.L., Rompetrol Gas S.R.L., and Rompetrol Petrochemicals S.R.L.
The gross turnover reached 4.44 billion dollars, while the operational result (EBITDA – profit before interest, taxes, depreciation, and amortization) recorded a value of 175 million dollars.
The net result remains negative (20 million USD), mainly due to volatility in international quotations and the applicable fiscal framework.
The company reiterates the urgent need expressed by the business environment for fiscal initiatives such as the minimum turnover tax (IMCA) to be repealed and replaced with sustainable solutions, complemented by incentives for investments in strategic areas, the company's objective being to maintain its role in the stability of the energy sector and, subsequently, to diversify and develop its operations.
Rompetrol Rafinare is one of the most important contributors to the state budget, with a contribution of over 1.4 billion dollars in the period January – September 2025. The significant shareholders of the company are KMG International (54.63% – directly and indirectly) and the Romanian State, through the Ministry of Energy (44.7%).
Refining segment*
|
Financial indicator |
|
9 months 2025 |
9 months 2024 |
|
Gross turnover |
USD |
3,813,303,948 |
3,003,865,726 |
|
EBITDA |
USD |
150,623,645 |
94,204,743 |
|
Net result |
USD |
(7,711,333) |
(38,730,232) |
|
Operational indicator |
|
|
|
|
Processed raw materials – Petromidia |
kt |
4,330 |
3,162 |
|
Processed raw materials – Vega |
kt |
281 |
203 |
|
Gasoline production |
kt |
1,247 |
818 |
|
Diesel & jet production |
kt |
2,276 |
1,701 |
|
Fuel sales – intern |
kt |
1,952 |
1,621 |
|
Fuel sales – export |
kt |
1,373 |
776 |
*Note: The refining segment includes the results of Petromidia Navodari and Vega Ploiesti refineries. Rompetrol Rafinare calculates the gross refining margin as follows: (Sales of oil products – Cost of raw materials)/Sales volume. Net refining margin is operating profit (EBITDA) divided by sales volume.
In the period January – September 2025, the Petromidia Năvodari refinery processed over 4.3 million tons of raw materials, resulting in approximately 1.25 million tons of gasoline and 2.28 million tons of diesel and Jet A1 fuels. Fuel sales were directed approximately 60% to the domestic market.
The refinery’s daily throughput reached a level of 16.76 thousand tons in the period July–September, processing a total of 1.54 million tons. Thus, the refinery utilization rate was 99.37%, and 96.82% for the first nine months overall.
The yield of light products (gasoline, diesel, LPG, JET, propylene) recorded in the first nine months of 2025 was 87.1% wt, and the Energy Intensity Index (EII) reached a level of 92.9 points, highlighting the refinery’s ongoing commitment to energy efficiency and process optimization.
Regarding the Vega refinery (the only domestic producer of bitumen and hexane), approximately 281 thousand tons of raw material were processed in the first nine months of 2025, a level directly determined by the increased quantities of components received from the Petromidia refinery.
The Vega refinery recorded optimal operational parameters, with a low technological loss of 0.77% and an energy consumption of 2.47 GJ/t. This year, Vega celebrates 120 years of operation, the refinery being a symbol of the Romanian energy industry.
Petrochemicals Segment*
|
Financial indicator |
|
9 months 2025 |
9 months 2024 |
|
Gross turnover |
USD |
69,774,875 |
53,489,275 |
|
EBITDA |
USD |
(44,288,979) |
(32,676,524) |
|
Net result |
USD |
(32,751,950) |
(34,382,076) |
|
Operational indicator |
|
|
|
|
Processed propylene |
kt |
60 |
57 |
|
Processed ethylene |
kt |
23 |
- |
|
Total polymer production |
kt |
62 |
43 |
|
Total sales |
kt |
63 |
46 |
* Note: The petrochemical segment includes the petrochemical activity of Rompetrol Rafinare and the activity of Rompetrol Petrochemicals SRL.
In January – September 2025, the total polymer production was 62 thousand tons, and sales were directed predominantly to the domestic market. At the beginning of May, the company also restarted the Low-Density Polyethylene (LDPE) plant.
The only petrochemical division in Romania continued to fulfill its deliveries to partners in the relevant industries, thus supporting multiple production segments in the country.
Distribution Segment*
|
Financial indicator |
|
9 months 2025 |
9 months 2024 |
|
Gross turnover |
USD |
2,698,790,415 |
2,430,659,313 |
|
EBITDA |
USD |
71,566,694 |
64,587,023 |
|
Net result |
USD |
26,238,432 |
9,550,491 |
|
Operational indicator |
|
|
|
|
Fuels sold – retail |
kt |
876 |
910 |
|
Fuels sold – wholesale |
kt |
569 |
386 |
|
LPG sold |
kt |
204 |
170 |
* Note: The distribution segment includes the results of the subsidiaries Rompetrol Downstream, Rom Oil, Rompetrol Quality Control, Rompetrol Logistics and Rompetrol Gas.
Fuel sales in the retail sector recorded a slight decrease, as a result of the general market demand, determined by the increase in VAT, excise duties, and purchasing power being on a downward trend.
In the period January – September 2025, sales through wholesale channels increased, as a result of the strategic effort of the management team to consolidate the market position.
At the end of September 2025, the distribution network in Romania reached 1,206 points of sale. The network includes company-owned stations, partner stations, and mobile stations: Express, internal bases of 9 and 20 cubic meters.
Corporate Communication and Public Relations
KMG International