BRATISLAVA, April 21, (WEBNOVINY) — Slovnaft group will pay out in dividends from unappropriated earnings from past years in the total value of EUR 61.8 million, which represents EUR 3 per one share, to its shareholders. Slovnaft spokesman Anton Molnar informed that the shareholders company’s annual general meeting on Thursday also approved a personnel change and appointed Kupa Mihaly a new member of the board of directors. Gyorgy Mosonyi was elected a new member of the supervisory board. The AGM also decided on the change to company’s statutes. Changes mostly concern decision-making of the AGM and the supervisory board and AGM powers.
Slovnaft group reported for 2010 sales of EUR 3.496 billion, which was a 28-percent growth in annual terms. The refiner based in the Slovak capital closed last year with a taxed profit of EUR 48 million, which was in a sharp contrast with 56-million-euro loss in 2009. Slovnaft, as an export oriented corporation capitalized particularly on positive economic development in the eurozone and the United States. A gradual recovery of key economies also reflected in the petrochemical industry, which contributed to the positive result. In addition to external factors, internal measures, particularly those in energy-saving, contributed to the profit, too. Inventory re-pricing and the exchange rate development had a positive influence on the result, as well.
Last year, Slovnaft processed 5,453 kilotons of crude oil, which was 4.3 percent less in annual terms. Molnar attributes this decline to far-reaching general revisions and lower demand for fuels. Slovnaft produced 2,839 kilotons of motor diesel, 1,319 kilotons of petrol and 395 kilotons of polyethylene and polypropylene.
Slovnaft invested over EUR 100 million last year. The money was spent to increase production efficiency and quality taking into consideration the environmental aspect, Molnar says. At the end of last year, the company owned a network of 209 petrol stations, which is the same figure as a year ago. Slovnaft group had 3,653 employees in late 2010.
Slovnaft, a refining and petrochemical firm, is seated in Bratislava. It produces, stores, distributes and sells in wholesale segment products made from crude oil and runs the largest retail network selling lubricants and motor fuels in Slovakia. Hungarian oil and gas group MOL is its majority owner.
SITA
