Oilinvest (Netherlands) B.V. Consolidated Profit and Loss account for the years 2015 – 2018
|Value in ‘000 Euro||2015||2016||2017||2018|
|Net Result after tax||6,250||72,144||144,841||93,843|
The increasing competition faced by the oil downstream in Europe has led the company management to take drastic steps and extensive, severe rationalization measures leading – among others – to:
The main radical measures were implemented particularly during the period 2011-2015, with full effects starting to become evident from 2016 onwards. Please note that 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.
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 five years, with potential to exceed 2018’s result depending on the international fuel price spreads versus crude and relevant refining margins.