Spectator on facebook

Spectator on facebook

Slovnaft reports after-tax profit of Sk9.2 billion in 2005

The crude oil refiner group Slovnaft earned an after-tax profit of Sk9.2 billion (€260 million) last year, representing a year-on-year decline of eight percent.

Net revenues from the group's sales grew by 19 percent to Sk101 billion (€2.7 billion). Slovnaft's operating profit also dropped eight percent to Sk11.3 billion (€300 million) from the previous year.

The group ascribes the fall in profits to lower output due to planned shutdowns, the firming of the Slovak crown towards the US dollar, and a fine imposed by the Finance Ministry that has already been paid but has been appealed in court.

The company's results have not been audited and are unconsolidated, although they were drawn up in line with international financial reporting standards (IFRS).

The Slovnaft group reported total assets of Sk64.9 billion (€1.7 billion) at the end of last year. Of this fixed assets accounted for almost 66 percent.

At the end of December Slovnaft operated 253 petrol stations. It opened four new filling stations in 2005, shut down 31 stations and started reconstruction on five.

The majority shareholder in Slovnaft is the Hungarian MOL corporation, which controls 98.4 percent of shares.

Compiled by Beata Balogová from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

Top stories

Messerschmidt created most of his character heads in Pressburg

Bratislava will name a square after the prominent artist

A replica of one head from the series Character Heads by F. X. Messerschmidt; ownership of the Slovak National Gallery

Christmas Bazaar returns to the Old Market hall

One of the events which presents diplomatic communities residing in Slovakia to the wider public is the already traditional Christmas Bazaar, which focuses on gastronomy and charity.

Christmas Bazaar 2016

Blog: The wanderer returns home

The places you visit, people you befriend, experiences that leave their mark, they all become a part of you.

Go east for real morality, Jean-Marc Barr says Photo

The French American actor/director, who plays in a Slovak co-production film, said during a recent visit to Bratislava that eastern Europe, and other eastern countries still have what America has already and what…

Jean-Marc Barr during IFF Bratislava 2017