Business News

Petrol Group Ups Net Profit by 9% in H1

Ljubljana, 24 July (STA) - Energy group Petrol generated EUR 1.8bn in sales revenues in the first half of 2012, which is 18% more year-on-year, according to the company's estimates. The group's net profit grew in this period by 9% to EUR 23m, Petrol reported on the website of the Ljubljana Stock Exchange on Tuesday.

Petrol group's gross profit in the first six months of the year stood at EUR 157m, which is 4% more year-on-year.

Also 4% higher were the group's earnings before interest, depreciation and amortization (EBITDA), which reached EUR 58m.

According to Petrol, the group is fighting with the difficult economic situation - notably in Slovenia in Croatia, its two main markets - but still continues to operate successfully.

Estimates show that Petrol sold 1.2m tonnes of oil-based products in the first half of 2012, 9% more than in the same period last year, and generated EUR 236.5m in revenues from sales of merchandise, up 10% year-on-year.

At the end of June, the group operated a total of 457 service stations, 314 in Slovenia, 90 in Croatia, 37 in Bosnia-Herzegovina, seven in Serbia, five in Montenegro and four in Kosovo.

In the first half of the year, the group sold 67m cubic metres of natural gas (5% more year-on-year) and 32,000 tonnes of liquefied petroleum gas (25% more year-on-year).

The energy group also sold 1.1m MWh of electricity, an increase of 121% over the same period last year.

Petrol's supervisors will review the results on 28 August.

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