OMV Bulgaria's Net Profit Drops in 2018, Sales Rise

OMV Bulgaria's Net Profit Drops in 2018, Sales Rise

Fuel retailer OMV Bulgaria, part of Austrian energy group OMV, said that its net profit fell to 19.7 million levs ($11.4 million/10.1 million euro) in 2018 from 25.7 million levs the year before. OMV Bulgaria's sales increased to 685.4 million levs last year from 679.0 million levs in 2017, the company said in an annual financial statement. However, other operating revenue dropped to 1.6 million levs in 2018 from 14.0 million levs in 2017. Cost of goods sold edged up to 577.7 million levs from 576.9 million levs. Expenses for hired services fell to 60.9 million levs last year from 63.2 million levs the year before, while amortisation and depreciation costs rose to 15.6 million levs from 13.8 million levs. Personnel costs and expenses for materials both remained flattish year-on-year at 3.3 million levs and 2.0 million levs, respectively. The company's assets edged up to 282.8 million levs at the end of 2018 from 279.8 million levs a year earlier.

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