Saras widened the loss in the first half to 201,3 million euros, down 71% from the loss of 117,7 million in the same period of the previous year. Revenues, informs a note, fell by 6%, to 5,445 billion. Net financial debt rose to 157 million compared to 82 million at the end of June 2012, investments in fixed assets decreased from 75,9 to 64,3 million and operating cash flow to 125 million (641 million at 30 June 2012) . ”This quarter”, commented the chairman of the group Gian Marco Moratti, ”has been particularly full of important events for the group. In June Rosneft became a shareholder of Saras with a 21% stake. The presence of such a prestigious partner considerably strengthens the competitive positioning of our company and is a recognition of enormous satisfaction for the Saras group and for the people who work there with great dedication".
"Another important event", underlined the president, "was the signing, on June 24 in St. Petersburg, of an agreement for the creation of an equal Joint Venture between Rosneft and Saras, dedicated to commercial activities on crude oil. Both companies strongly believe in this project, and are devoting great energy to it”. ”Finally”, concluded Moratti, ”on 1 July 2013, the group implemented the corporate reorganization previously announced to the markets, transferring the refining activities held by Saras to the subsidiary Sarlux. The transition took place with full success and on schedule, thanks to the professionalism and commitment of all our staff".
After the publication of the accounts, the stock immediately lost 1,22% on the stock market €0,929 per share.
