JT GROUP OIL, fuel distributor and sole developer of JT Terminal, the newest private terminal for liquid petroleum products, reports a net turnover of 179.76 million lei in the first nine months of 2024, up 4%. In the same interval, the company recorded a net profit of 5.89 million lei, up by 69% compared to the same period last year.
The performances of JT GRUP OIL this year are supported by o 42% increase in operating result and by o increase by 13% of the volume of fuel sales, which increased from 26.4 million liters to 29.8 million liters.
An important element of the company's market share expansion policy, as well as the strengthening of the supply process, is 21.43% percent of inventory growth.
"The results recorded in the first nine months of this year confirm the strategic direction of the company and the fact that the implemented commercial policies are the right ones. The 13% increase in the volume of fuel sales, up to almost 30 million liters, shows us that we have managed to successfully start the process of expanding the market share, the prospects from this point of view being gratifying. I also want to highlight the impressive 69% year-over-year increase in net profit. Romania and the entire region are still going through a complex period, full of challenges, which makes JT OIL GRUP's results from the first nine months of this year all the more important. We have made efforts in recent years to strengthen the company's position in the market, and now I can say that we are ready for a defining moment for our future, the operationalization of the first private terminal for petroleum products, an event that will take place in the first part of 2025 and which will will bring a completely new line of business", stated Bogdan-Florin Aldea, President of the Board of Directors of JT GRUP OIL SA
During 2024, the company made investments of over 19 million lei, the money being allocated to the completion of the JT Terminal development, a strategic project of JT GRUP OIL. The terminal will become fully operational in early 2025 and will facilitate the simultaneous loading and unloading of ships, wagons and tankers. QWork on the terminal is currently progressing as planned, with two of the 1,000 ton tanks as well as three 5,000 ton tanks already completed.
Also in 2024 JT GRUP OIL developed its own fleet, investing in the purchase of 5 new tankers, continuing the strategy of expanding operational capacities. The company aims to optimize the delivery process by reducing waiting times, ensuring the safe transportation of petroleum products.
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About JT Grup Oil SA
Currently, JT Grup Oil SA carries out fuel distribution operations in the South-East of Romania with the help of its own fleet of 13 tanks with a capacity of up to 40,000 liters, equipped with pumps and indicators to measure the quantity delivered. For fuel distribution in the northern part of the country, the company has partnerships with representatives of the business environment, long-term collaborators.
In the last ten years, the company's profit was 51 million lei, reflecting a solid and sustainable financial performance. Also, the turnover in the last five years has registered a constant increase from 171 million lei in 2019 to 224 million lei in 2023, which demonstrates the company's ability to adapt to market requirements, to innovate and to -optimize its operations to drive continued growth and long-term success.
Founded in 2001, JT Grup Oil SA is one of the most important companies active in the fuel distribution market and the developer of the first private terminal for petroleum products in Romania in the port of Constanța. In 2004-2005, he built a bitumen terminal in Medgidia, which he sold shortly after receiving it, and the money obtained from the sale was invested in the development of the fuel distribution network. In 2008, the company began to develop the distribution network and introduced to the market more than 250 tanks equipped with pumps and level indicators. From 2023, JT Grup Oil SA diversified its range of products, and entered the segment of duty-free diesel fuel, which serves commercial vessels for the ports of Midia and Constanța.
