Saras ended 2013 with a net loss of 271 million euros, significantly worse than the €90 million loss recorded in 2012. The adjusted net result was a negative €84 million (-€35 million the previous year).
I revenues they marked a decrease to 11,23 billion, from 11,88 in 2012, with a stabilization in the last quarter. Ebidta over the twelve months more than halved (71 million), albeit improving in the last quarter (46,7 million, against the negative balance of 28,5 million in the previous year).
Narrowing the gaze to only fourth quarter, the oil company of the Moratti family shows an improvement in its accounts: compared on an annual basis, the loss more than halved, reaching 33 million, while the adjusted profit was positive for 5,3 million, against the loss of 18,8 million in the same period of 2012.
“The last quarter of 2013 was also characterized by extremely depressed margins for the European refining sector – commented the president Gian Marco Moratti – mainly due to geopolitical tensions in various oil producing and exporting countries. However, the Saras group managed to seize interesting commercial opportunities. Furthermore, on an industrial level, the programs to increase operating efficiency continued with encouraging results”.
For 2014, Saras expects a gradual improvement in refining margins, also due to the expected easing of tensions in Libya and Iran and the progressive recovery of the economic cycle and oil consumption.
"Thanks to the recent investments and improvements in the operations and efficiency of the Sarroch site - added Moratti -, the Saras group is certain it will be able to make the most of future market opportunities".
At the beginning of the afternoon, Saras' shares on the Stock Exchange gained about half a percentage point.
