Saras S.p.A.

Saras S.p.A.
Società per azioni
Traded as BIT: SRS
Industry Energy
Founded 1962
Founder Angelo Moratti
Headquarters Sarroch, Italy
Key people
 Gianmarco Moratti (President)
Massimo Moratti (CEO)
Gino Angelo Moratti (Vice President)
Products Oil and Natural Gas, Alternative fuel
Revenue Decrease €11.230 billion (2013)
Decrease (€354.2) million (2013)
Decrease (€271.1) million (2013)
Total assets Decrease €3.815 billion (2013)
Total equity Decrease €921.2 million (2013)
Number of employees
 1,812
Website www.saras.it

Saras Raffinerie Sarde SpA is an Italian energy provider founded in 1962, operating in the area of oil refining and the production of electricity, located in the island of Sardinia.

History

Saras refinery
View of Sarroch; in the background is the refinery and the jetty for mooring tankers

The company was founded in 1962 by Angelo Moratti and is now run by his heirs. The activities of the company have always concentrated in oil refining, which remains the core business of the group and the main production site of the group is the Sarroch refinery, one of six supersites in Europe, situated in a favourable position for the receipt of crude oil and in proximity of the sales of finished products.

According to independent oil analysts WoodMackenzie, based in Edinburgh, the refinery is the one of only six supersites in Europe, with a capacity of 300,000 barrels per day, representing 15% of refining capacity in Italy. In recent years, initially to enable independence of the Sarroch refinery from terms of energy, the group Saras has entered in the production of electricity and is expanding its production of alternative energy sources, particularly in the field of wind energy, through its subsidiaries Sarlux and Sardeolica, the latter of which is controlled indirectly through the company Eolici Ulassai.

To date, the Saras group meets more than 30% of the energy needs of Sardinia, with production in 2006 of nearly 4.5 million MWh, of which 157,300 MWh is from wind. Sarlux was born as a joint venture with Enron, but was wholly acquired by Saras on June 28, 2006. The company is listed on the Borsa Italiana (Code ISIN: IT0000433307, Code: SRS, Segment: Blue Chip). In January 2007, the Judiciary launched an investigation against persons unknown on the bid for Public Sale and Exchange which led the company to listing on the Stock Exchange, on complaint of individuals who participated in it; investigations are still ongoing, but the company claims not to have received further communication after the search made in the same month of January.

In 2009, the documentary-film by Massimiliano Mazzotta Oil [1] about pollution and low workers security of the refinery was subject to censorship in italy.

Legal Information and registration

The Sarroch refinery

Name: Saras Raffinerie Sarde SpA
Registered Office: Sulcitana Strada Statale 195 km. 19 - 09018 - Sarroch

Board of directors

Board in office as at November 16, 2007.

Major shareholders

Principal investments

Arcola Petrolifera SpA * - Sarroch (CA) - 100%

Investments are valued in the balance sheet at December 31, 2006 about 268 million euro.

Financial Data

Budgeting at 31 December 2006, the group Saras is a consolidated investment of about 3.22 billion euros, with a market capitalization of about 1.29 billion euros, annual sales of about 6 billion euros and a consolidated net profit of around 395.4 million euros. As for the single parent, the investment amounts to some 1.75 billion euros with a net worth of around 866.5 million euros, a turnover of around 5.6 billion euros and net profit of around 257.6 million euros. At 31 December 2006 the Group employed 1810 employees Saras, whose staff in 1172 to the parent.

See also

References

  1. ↑ "Il documentario denuncia", La Repubblica

Sources

External links