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Saturday 24.03.2018 | Name days: Kazimirs, Izidors

Ventspils nafta worked with EUR 26.89 million in profit in 2015

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUVentspils nafta worked with EUR 26.89 million net profit in the first nine months of 2015. The company’s consolidated revenue, on the other hand, increased 8.1%, reaching EUR 134.91 million.

Concern’s gross profit has grown 18.8% up to EUR 39.77 million, as reported by Ventspils nafta.

VN parent company worked with EUR 5.43 million of profit in the first nine months of 2015. This is largely thanks to devident revenue from VN investment in Ventspils nafta terminals – EUR 6.21 million.

Ventspils nafta terminal’s revenue increased by EUR 2.14 million to EUR 62.09 million in the first nine months of 2015. Gross profit grew EUR 0.98 million, reaching EUR 13.63 million. Net profit of the first nine months of 2015 was EUR 11.23 million. The volume of handled oil products reached 7.4 million tons.

The volume of oil products transported by LatRosTrans had reduced by 18%, down to 3.85 million tons, over the course of the year. The company’s revenue was EUR 11.15 million in the first nine months of 2015. Gross profit reduced by EUR 2.05 million to EUR 3.64 million and net financial result was revenue of EUR 6.16 million in the annual account.

Consolidated net results for the nine months of 2015 of Latvian shipping company and its subsidiaries was losses worth EUR 1.35 million.

Total revenue of Latvian shipping company was stable and reached EUR 65.87 million in this period of 2015. Thanks to a stable revenue level and powerful EUR/USD exchange rate, revenue before commitments reached EUR 13.07 million.

Profit from the fleet’s main activities reached EUR 37.64 million in the first nine months of 2015.

Ventspils nafta is one of the largest company groups in Latvia. It works in the field of oil product transport, shipping and storage. Ventspils nafta is the parent company. It manages investments in companies part of its group and assess the total value and growth potential of each individual company.

Ventspils nafta owns 51% of stocks in Ventspils nafta terminals, which is the largest oil and oil product handling terminal in Baltic States; 66% of stocks in LatRosTrans, which is a joint Latvian-Russian company in Baltic States; 49.94% of stocks in Latvian shipping company, which is one of the largest ship owners in the medium and handy-type tanker segment in the world.


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