Ventspils nafta

LatRosTrans has reached its record result, transhipping 6.3 million tons of diesel


LatRosTrans has reached its record result, transhipping 6.3 million tons of diesel

february 27, 2013 / LatRosTrans

In 2012 SIA LatRosTrans transhipment volume of oil products has reached a record 6,308 million tons – an 8.92% increase versus 2011. Total volume of transhipped diesel fuel was the third highest in the company’s history since 1994.

During last year LatRosTrans EBITDA has reached 5.2 million lats – a 44% increase versus previous year, signalling material improvement of the company’s operating results. The Company’s revenues stood at 12.16 million lats, and unaudited net profit – at 11.74 million lats. The company has also sold almost 43 tons of technological oil, extracted from the Company’s Polock-Ventspils pipeline for 17.74 million lats.

In 2013 SIA LatRosTrans is planning to keep the volume of transhipped diesel fuel at the previous year’s levels, and close the year with operating profit. The Company is also planning 1.24 million lats capital investments into infrastructure reconstruction and modernization.


Information about LatRosTrans

LLC LatRosTrans owns two crude oil pipelines in the territory of the Republic of Latvia – Polotsk-Mazeikiai and Polotsk-Ventspils, which have not been used in recent years in the company’s commercial activity. In turn, the Polotsk – Ventspils oil product pipeline belonging to LLC LatRosTrans is actively used at present for transportation of diesel fuel.

LLC LatRosTrans is the biggest Latvian-Russian joint venture in the Baltic states. The Russian partner – OJSC AK Transnefteprodukt (daughter company of JSC АК Transneft) – owns 34% of the company’s shares, while 66% of the shares belong to the joint-stock company Ventspils nafta (NASDAQ OMX RIGA: VNF1R).