Home / Knowledge / News / Textiles / UNIPETROL reports net profit of CZK 406m in Q1
UNIPETROL reports net profit of CZK 406m in Q1
15
May '08
Modernisation, rebranding and strong marketing promotion of Benzina keeps the retail segment on the way up both in terms of sales and profits

In the first quarter of this year UNIPETROL's business was kept under continuous pressure of negative external factors, such as rapidly rising prices of crude oil, further shrinking of petrochemical margins and decreasing USD and EUR exchange rates.

In spite of that, the company was able to stay profitable and reports net earnings of CZK 406m. This result means however a significant drop compared with Q1 2007. Quarterly revenues amounted to CZK 22.149bn, which means a y/y increase of 7%.

Highlights of Q1 2008

The difference in external environment was especially apparent in the y/y comparison because macroeconomic and market conditions were extremely favourable in the first quarter of last year, unlike the situation in the first three months of this year. The refining segment's results were lowered by increased crude oil prices (Brent went up by USD 39/bbl compared with the year before).

The petrochemical segment was hit by rising feedstock prices, which were not compensated by the development of selling price. Also exchange rate changes had an unfavourable impact on the current financial results (year-on-year decrease by CZK 4.3/USD and CZK 2.47/EUR).

“We were just in time to complete asset optimisation and internal restructuring. Putting the company in the right shape in times when the markets were up gave us enough strength to overcome hard times,” says François Vleugels, UNIPETROL CEO.


Must ReadView All

Ethiopia’s Kombolcha Industrial Park attracts foreign firms

Apparel/Garments | On 15th Dec 2017

Ethiopia’s Kombolcha Industrial Park attracts foreign firms

Strategic location, modern factory facilities and proximity to the...

American Merchant to invest $19.9 mn to start Bristol plant

Textiles | On 15th Dec 2017

American Merchant to invest $19.9 mn to start Bristol plant

American Merchant, Inc., a subsidiary of Merchant House International ...

Courtesy: Tailored Brands

Apparel/Garments | On 15th Dec 2017

Tailored Brands posts $810.8 million sales in Q3 FY17

Tailored Brands, a leading US-based specialty retailer of menswear,...

Interviews View All

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search