Robotul Minerva ca: 
JT GRUP OIL, a fuel distributor and developer of JT Terminal, the newest private liquid product terminal, reports a turnover of RON 108 mln in the first half of 2024, a moderate increase compared to the first half of last year. Significant part of the turnover is generated from domestic fuel distribution, the company increasing its sales volume from 15.7 million liters to 17.9 million liters in the first six months of this year.
In a complex economic context, marked by significant challenges in the energy sector, JT GRUP OIL recorded a 15% increase in net profit compared to the same period last year and a 45% increase compared to 2022, currently reaching 2.58 mln lei. The Group’s total assets exceeded 143 mln lei, an increase of 33.89% compared to the same period of the previous year. During the same reporting period, the company’s operating expenses reached the 106.03 mln lei, an increase of 2.88% from 103.93 mln lei.
”In the evolution and structure of the balance sheet assets, in the first half of 2024, we have seen a significant increase in stocks as a result of the intensified fuel supply. This strategy has been implemented to protect against price fluctuations in the light of the increase in the excise duty and to gain cost advantages by using the capital generated through the listing. In the first six months of 2024, the policy of increasing sales volume in the domestic market was maintained, with the aim of growing the company’s market share. We have also increased both turnover and net profit, which reached 2.58 million lei as of June 30, 2024, up 15% year-on-year. Improved profitability was a key commitment to shareholders and investors, being a direct result of the commercial policies and business strategies we have successfully implemented.”, adds Bogdan-Florin Aldea, Chairman of the Board of Directors of JT GRUP OIL S.A.
During the first half of the year, the company has invested approximately 19 million lei, allocated for the development and modernization of JT Terminal, the Group’s strategic project, which will increase the storage and distribution capacity of fuels, strengthening the infrastructure needed to support operational expansion. The new terminal will become fully operational at the beginning of 2025 and will facilitate the simultaneous loading and unloading of ships, wagons and tankers, thus streamlining the supply chain by reducing delays in the port of Constanța. Currently, the works at the terminal are progressing considerably, with two of the 1.000-ton tanks as well as three 5.000-ton tanks being already completed. In addition, the company has 90% completed work on tanks four and five, with a capacity of 5.000 tons each. The sixth tank of 5.000 tons is 10% built.
A key moment, allowing the company access to new sources of capital to finance its expansion, was the successful listing on the AeRO market of the Bucharest Stock Exchange, following which JT GRUP OIL attracted an initial public offering of 19.9 million lei from investors, generating an anticipated market capitalization of 186.1 million lei.
Another strategic step achieved in 2024 was the increase in the number of tanker trucks from 7 to 13, thus strengthening logistics capabilities. With an expanded and up-to-date fleet, the company aims to optimize deliveries by reducing waiting times, ensuring the safe and efficient transportation of fuel products. In addition, JT GRUP OIL has strengthened its position on the bunker fuel market obtained the tax warehouse authorization for the commercialization of diesel without excise duty.
“The financial performance in this first semester highlights our ability to adapt and innovate in a dynamic environment. We have continued to invest in modern technologies and focused on expanding our customer portfolio, which has enabled us to strengthen our position in the market and deliver sustainable long-term value. We set out to transform JT GRUP OIL into a regional leader and the successful completion of JT Terminal is a major step in this direction.” adds Bogdan-Florin Aldea, Chairman of the Board of Directors of JT GRUP OIL S.A.
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