OMV Petrom posts record profit in 2022, the highest ever recorded by a Romanian company

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OMV Petrom Group reported a net profit of 10.3 billion lei in 2022, 260% higher compared to the previous year, according to the unaudited financial results submitted to the Bucharest Stock Exchange on Thursday. It is the biggest profit ever obtained by a Romanian company.

The company’s sales also reached a record value of 61 billion lei, being 2.3 times higher than those in 2021. At the same time, the company paid 9.7 billion to the state last year in the form of royalties, additional taxes and specific contributions lei, 4 times more than in 2021.

The company expected not to pay the solidarity tax this year, given that it had less than 75% of its turnover in the sectors of crude oil extraction and refining, gas extraction and coal.

“OMV Petrom’s revenues are a solid basis for contributing to the Romanian economy and the Romanian energy sector. The net profit was 10 billion lei, while the contribution to the state budget, through taxes and dividends, reached a record level of 20 billion lei. The increase in taxes was mainly determined by the taxes and contributions specific to the industry, totaling over 7 billion lei,” said Christina Verchere, OMV Petrom general manager.
She also emphasized that for 2023 the investments almost double, to 6 billion lei, equivalent to approximately 60% of the net profit from 2022, and Neptun Deep is at the center of the company’s strategy “and we will focus on bringing the project closer to the final decision of investment, planned for mid-2023”.

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