Slovnaft group cuts operating loss in first quarter of 2010

The Slovnaft group reported a first quarter operating loss of €3.1 million, which is a year-on-year improvement of €10.4 million, according to company spokesman Anton Molnár who attributed the better results to a gradual positive development in the external environment, the SITA newswire wrote.

The Slovnaft group reported a first quarter operating loss of €3.1 million, which is a year-on-year improvement of €10.4 million, according to company spokesman Anton Molnár who attributed the better results to a gradual positive development in the external environment, the SITA newswire wrote.

Sales were €718.5 million in the quarter, up 37 percent or €192 million y-o-y. As the company explained, higher prices of crude oil-based products, especially of petrol, were behind this growth.

The local market reported surging demand for motor fuels, particularly for diesel. Although exports registered lower demand on the Czech, Hungarian and German markets at the beginning of the year, the Director General and Chairman of Slovnaft’s Board of Directors, Oszkar Világi, expects higher sales on these markets in the coming months.

The volume of refined products sold on the local market went up by 13.8 percent to 299 kilotons. Motor fuels improved the most with the volume of diesel sold surging by 18.7 percent due to higher demand by the farming sector, a lower excise tax and a subsequent increase in its sale at petrol stations.

Source: SITA

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

Get daily Slovak news directly to your inbox

Top stories

News digest: Some schools open, so do some ski resorts

Top prosecutor to be appointed soon. Zsuzsová goes to prison in a murder case. Pezinok judges are busy deciding about custodies for high-profile suspects.

Health Ministry gearing up for COVID vaccines

Mass campaign planned to get people to take jab.

Illustrative stock photo

He was almost murdered. Instead, he is to become general prosecutor

It was not clear whether the election would take place on December 3 until the very last moment.

Maroš Žilinka

Žilinka elected the next general prosecutor

He received 132 votes out of the 147 present MPs.

Maroš Žilinka