Saras closed 2012 with a net loss of 90,1 million euros, down vertically from the profit of 58,8 million recorded in 2011. The oil group's revenues, a note explains, amounted to 11,8 billion (+8% y/y), while Ebitda reached 173,6 million (394,3 million in 2011).
Depreciation, amortization and write-downs amounted to 244,2 million (213,3 million in 2011). In the fourth quarter alone, a write-down of approximately 36 million was made on some assets in the marketing sector. Net financial charges amounted to 51,9 million (61,6 million in 2011). The adjusted net result was negative for 35,2 million (-17,7 million in 2011). Investments amounted to 119,3 million, in line with the planned program for the year, and almost entirely dedicated to the Refining sector (approximately 97 million). The net financial position as at 31 December 2012 was equal to -218 million, an improvement compared to the beginning of the year (-653 million).
As regards the parent company, revenues amounted to 10.792 million (+7,4%), Ebitda was negative by 93 million (112 million in 2011). The net loss reached 154 million (-45,5 million in 2011), while investments rose from 65 to 97 million. The net financial position was negative by 470,6 million (-693,3 million in 2011).
The board will propose to the shareholders' meeting not to distribute any dividends for the 2012 financial year.
