Slovakia’s Slovnaft sees 27% rise in Q2 petchem sales revenue

13 August 2013 11:57  [Source: ICIS news]

LONDON (ICIS)--Second-quarter petrochemical sales revenue at Slovakia’s Slovnaft improved 27% year on year to €107m ($142.7m) from €84m, the company said on Tuesday.

The quarter also saw monomer and polymer production volume increase 43% on the same quarter a year ago to reach 67,000 tonnes, it added.

The average petrochemical margin seen by Slovnaft in the second quarter rose 42% year on year to €269/tonne, with lower naphtha feedstock prices the key factor, the company said.

Overall, Slovnaft, also a refiner, made a second-quarter net loss of €3m against the restated net loss of €55m recorded in the same quarter of 2012.

Net sales revenue climbed 20% year on year in the second quarter to €1.2bn from €1.0bn.

Slovnaft CEO Oszkar Vilagi said the first half of this year saw no significant improvement in the macroeconomic environment faced by the company.

The company was continuing with a strong investment programme, including the construction of a modern low-density polyethylene (LDPE) unit at the company production site in Bratislava, he added.

Slovnaft is a subsidiary of Hungarian oil, gas and petrochemicals group MOL, which reported its own second-quarter financial results earlier on Tuesday.

($1 = €0.75)

By: Will Conroy
+44 20 8652 3214

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly