Modrica oil refinery closed the previous financial year with a net loss of approximately 2.49 million euros. Compared to the prior year, the deficit widened significantly, increasing by about 1.19 million euros, or roughly 90%, pushing the company’s accumulated losses to nearly 60.45 million euros.
Total operating revenue reached approximately 5.2 million euros, slightly below the previous year’s level. At the same time, overall expenditures rose sharply, growing from about 6.85 million to 7.88 million euros. The strongest upward pressure came from higher depreciation charges and provisions, which weighed heavily on the final result.
While total expenses expanded, payroll costs moved in the opposite direction. Spending on salaries declined from around 3.12 million to about 2.86 million euros. The reduction reflects a continued contraction in the workforce. By the end of 2025, the refinery employed roughly 170 workers, the lowest number since the company began operations. Compared to 2019, the headcount has been cut by half, and relative to 2013, it has been reduced to roughly one third.
The latest figures highlight ongoing structural and financial challenges, as shrinking operations combine with rising fixed costs to deepen the company’s losses.
