The net profit of the Mozyr oil refinery in 2018 fell to 83.5% of

The refinery has issued statements.

Net profit of JSC “Mozyr oil refinery” (Mozyr oil refinery) in accordance with IFRS in 2018 totaled Br30 97 million ($15.3 million at current exchange rates), which is 83.5 per cent less compared to 2017, reported in the published audited accounts of the plant, reports

Pre-tax profit last year fell 87.2% to Br27,78 million With revenue on income tax (including deferred tax) in 2018 amounted to Br3. 2 million against the cost of Br28,9 million in 2017.

Revenue from product sales was equal to Br8,12 billion (an increase of 40%), including revenues from sales of petroleum products – Br7 99 billion (up 41.9%). The growth was attributable to growth of quotations of oil, the report says.

In the revenue structure of the Mozyr oil refinery from the implementation of the share of Ukraine had Br2 91 billion (growth by 32.3%), domestic market – Br2 74 billion (up 45%), Latvia – Br1,5 billion (an increase of 70.5%), Lithuania – Br0 72 billion (an increase of 22%).

The cost of production in 2018 increased by 35% to Br7,13 billion.

Obligations of the company last year declined by 2.8% to Br1,39 billion, including long-term liabilities at year-end amounted to Br388,9 million (growth by 18.5%), short – Br996,4 million (down 7.2%). The value of the assets of the refinery remained almost unchanged and amounted to Br4,07 billion at the end of the year.

Joint capital stock for the year 2018 have not changed – Br1 24 billion (adjusted for inflation).

According to the company, in 2018, the Mozyr refinery processed about 10 million tons of oil.

Mozyr oil refinery produces a wide range of petroleum products. The shareholders are the government of Belarus (42,76 percent of shares), NGK Slavneft (42,58 percent of shares), OAO “MNPZ plus” (12,25%) and physical persons (2,41%). Power plant for processing of oil amount to 12 million tons per year.

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