Slovnaft H1 profit over 120 million euros
Internal programs as well as favorable market conditions helped Slovnaft Group to increase efficiency.
Slovnaft Group posted a profit over the first half of this year. After a € 18 million loss recorded in the first half of 2014, the company posted a net profit of €123 million over the first six months of this year. This result was achieved particularly thanks to a significant increase in processing margins in the segment of plastics and chemicals and higher demand for oil products. The return to profit was also positively affected by the favorable exchange rate of the euro against the dollar and the currencies of countries outside the euro-zone, the decline in energy prices and other raw material inputs. Net sales of Slovnaft Group reached 1.83 billion euros over the first half of this year, which was roughly last year’s level. The total investments of Slovnaft amounted to 53 million euros in H1. Most of the capital expenditures were allocated to the construction of a new line for production of polyethylene LDPE 4 which is expected to be put into operation this year.
Full story in Slovak: Slovnaftu sa darí. Za polrok vykázal zisk vyše 120 miliónov.