Petrom, Romgaz Post Highest Profits in Romania in 2007

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Petrom, Romgaz Post Highest Profits in Romania in 2007

Petrom held onto the top spot in terms of profit among Romanian companies in 2007, after the company derived a gross income worth 2.55 billion RON (767 million euros), according to data supplied by the National Tax Administration Agency (ANAF) at the request of Ziarul Financiar.

The information centralized by the tax authorities, broken down by sectors, reveals the highest profit was reported on the crude oil extraction segment, with Petrom being the only such large company in Romania. Petrom was also the leader in 2006, with a gross income of 2.54 billion RON (723 million euros).

In second place was Sibiu-based Romgaz, with a taxable profit worth 540 million euros - the company operates in the field of natural gas drilling. Romgaz was not included in the 2006 ranking.

Next are two telecommunications companies that fell one place against the 2006 ranking, now positioned third and fourth, according to the ANAF data. According to the data available on the market, the two companies are Orange and Vodafone.

The mobile telephony operators reported 470 million euros and 346 million euros in taxable profits, slightly down from 2006, when they posted almost 466 million euros and 381 million euros respectively.

Automobile Dacia, fourth in 2006 with a gross profit worth 119 million euros, was no longer among the top ten companies in terms of profit in 2007, Ziarul Financiar reported.

In fifth and sixth position are two banks - BCR and BRD, whose profits stood at 340 million euros and 300 million euros, after the ANAF ranking allocated these positions to monetary intermediation operations.

Cement production fell from fifth position in 2006 to seventh in 2007, after Lafarge Romcim posted taxable profit worth 197 million euros last year.

According to data sent to the tax authorities, the company ranked eighth is a company that produces soft drinks. The gross profit stands at 185 million euros, and Coca Cola is the one whose business matches this level. It climbed one place since 2006, when it came ninth.

Sidex ranks ninth in terms of taxable profits for 2007, with a gross income of 177 million euros. The plant in Galati is registered as a manufacturer of ferrous metals, both raw and alloys.

ANAF data put Alro Slatina at tenth place, a company based in Olt county that operates in the field of aluminium smelting, which posted a gross profit worth 171 million euros.

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