Slovenia: Petrol’s net profit doubles as sales rise 20%

In the first six months of 2021, Petrol Group Adjusted Gross Profit was € 258.1 million, an increase of 44% year on year. As a result of successfully adapting sales to market conditions and cost effective management, EBITDA increased by 59% compared to the same period of 2020; it was 102.1 million euros, of which 55.4% consisted of sales of petroleum products, 18.5% of sales of goods, 14.2% of sales of other energy products (natural gas, electricity, LPG) and 11.9% of sales of energy systems and the environment. Net profit was 49.4 million euros, increasing 140% year on year.

“In the first six months of 2021, adjusted gross profit, EBITDA and net profit were better even compared to the results achieved in the pre-pandemic period,” noted Petrol Board Chairman Nada Drobne Popović.

In the first six months of 2021, Petrol Group sold 1.3 million tons of petroleum products, 13% less than in the first half of 2020 (mainly as a result of the change in the import regime in Italy). Sales of liquefied petroleum gas were 66.3 thousand tons, down 13% year on year. As a result of lower temperatures during the heating season and increased sales in foreign markets, natural gas sales increased by 58% year on year and reached 19.5 TWh. Sales of electricity to final consumers increased with the inclusion of E 3, doo in Petrol Group. In the first six months of 2021, revenues from the sale of goods amounted to 242.1 million euros, an increase of 6% compared to the same period of 2020. At the end of June 2021, Petrol Group operated 500 service stations, from of which 318 in Slovenia, 110 in Croatia, 42 in Bosnia and Herzegovina, 15 in Serbia and 15 in Montenegro.

Petrol dd Supervisory Board, Ljubljana, believes that the Company’s Board of Directors has been very successful in managing Petrol Group operations in the current market situation, as evidenced by the good business results achieved in the first six months of 2021. In the period in question, the Petrol Group has successfully pursued its goals for 2021, “said the President of the Supervisory Board, Janez Žlak.

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