Business News

Energy group Petrol with ambitious plans for 2020

Ljubljana, 13 December (STA) - The energy group Petrol has ambitious plans for 2020, with net profit expected to reach EUR 110 million, gross profit EUR 510 million and sales revenue EUR 6.4 billion. The targets in the business plan for next year are considerably higher than the figures Petrol is expected to post this year.

For this year, Petrol projects EUR 5.6 billion in sales revenue and almost 97 million in net profit. It is on pace to reaching these targets, with sales revenue standing at EUR 4.19 billion and net profit at EUR 80 million in the first nine months.

The business plan for next year, confirmed by the supervisory board on Thursday and published on Friday, says that the group will achieve the planned results by selling 3.4 million tonnes of petroleum products, 199,600 tonnes of liquefied petroleum gas and 19.3 TWh of natural gas.

Sales of merchandise and related services are expected to reach almost EUR 468 million, and the group also plans additional revenue through electricity production, trade and sale and through energy and environmental services.

At the end of 2020, the group's retail network is expected to consist of 522 service stations, of which 319 in Slovenia, 115 in Croatia, 42 in Bosnia-Herzegovina, 20 in Serbia, 15 in Montenegro and 11 in Kosovo.

"The number of service stations to be incorporated into the retail network will increase by 14 compared to the end of 2019," the business plan says.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) are planned at EUR 215 million, 51% of which is expected to be generated through petroleum product sales and 20% through merchandise sales and related services.

The group says it continues with the reduction of financial debt, with financial stability, expressed as the net debt to equity ratio and the net debt to EBITDA ratio, showing this strategic orientation is successful.

The group's net debt to equity ratio is planned to stand at 0.4 in 2020, while the net debt to EBITDA ratio is expected to amount to 1.7. The financial leverage ratio is planned at 30%.

The group is expected to have more than 5,500 employees at the end of 2020.

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