Oilinvest (Netherlands) B.V. Consolidated Profit and Loss account for the years 2017 – 2020
|Value in ‘000 Euro
|Net Result after tax
The increasing competition faced by the oil downstream in Europe in the last years has led the company management to take drastic steps and extensive, severe rationalization measures leading to:
The main radical measures were implemented all over the period. In 2018 the company’s refinery in Hamburg has undertaken the full general maintenance lasting approximately two months and, in addition, the refining margins were not in general as good as in 2017.
The drastic slump in fuel demand since Q2 2020 following the COVID-19 pandemic spread and the consequent restrictive measures generated high level of business instability and uncertainty. However, the company successfully managed to deal with it and to minimize the financial effects of the pandemic in 2020.
Today, in the current challenging market with low but steady declining fuel demand, the company is continuously striving to explore business opportunities and areas of improvements aimed at boosting efficiency and competitiveness to maximize the assets value for our shareholder.
The Oilinvest new operating model, which is streamlined and based on sound lines of business, leads us foreseeing solid results also in the next years.
With respect to the energy transition challenge that the oil industry is facing, Oilinvest is looking for value creating investment options in the renewable energy sector in order to successfully transform its asset base.