The company reported that group sales from January to March 2008 increased by 30% to E5.96 billion. EBIT rose by 55% to E795 million for the first quarter of 2008, compared to EBIT of E512 million for the same period of 2007.
The EBIT contribution of Petrom increased by 104% and was E277 million. Cash flow of operations increased by 21% to E813 million.
From January to March 2008, the company reported total investments of E815 million, compared to E528 million for the same period of 2007. From these investments, E628 million were directed into exploration and production, mainly for the acquisition of the oil service activities of Petromservice and for the development of new fields in Romania, Austria, the UK, Kazakhstan and New Zealand.
Wolfgang Ruttenstorfer, CEO of OMV, said: After the excellent results of the financial year 2007 we once again achieved a record result for the first quarter in 2008. Petrom’s strong results show that our restructuring process is successful in Romania. We will continue to strengthen our leading position.
