Slovnaft posts EUR 5.8 million operating loss

The refinery group of Slovnaft posted an operating loss of EUR 5.8 million for 1H 2010. The negative results were put down mostly to a planned general overhaul in the second quarter, and weaker demand for motor fuels on export markets.

The company enjoyed a positive result in the petrochemical segment, in which it cut its loss by EUR 5.5 million. In the first six months of the year the company, which is owned by Hungarian concern MOL, re-invested some EUR 52.2 million, mostly into increasing operational efficiency. This is EUR 3.6 million more than the previous year.

Slovnaft CEO and Chairman of the Board of Directors, Oszkar Vilagi, expects the external environment to continue to be affected by an overall economic boom.

Leave a Reply

Your email address will not be published.