Business News

Petrol's Net Revenues Down 21%

Ljubljana, 23 March (STA) - Energy group Petrol posted EUR 2.3bn in net sales revenues in 2009, down 21% compared to the year before. The group's operating profit stood at EUR 50.8m, while net profit totaled EUR 10.4m, the company said on Tuesday.

Last year the group reported a net loss of EUR 54.8m for 2008 due to a depreciation in investments brought about by the economic downturn.

In a press release after a meeting of Petrol's supervisory board which confirmed the group's audited results, chief supervisor Tomaz Kuntaric and Petrol CEO Aleksander Svetelsek said the drop in sales was largely due to higher prices of petroleum-based product and lower sales.

The group's parent company, Petrol, recorded EUR 2bn in net sales in 2009, down 24% compared to 2008. Operating and net profit stood at EUR 52.2m and EUR 10.7m, respectively.

The group sold 2.2 million tonnes of petroleum-based products in 2009, down 11% year-on-year. Petrol operated 311 filling stations in Slovenia, 73 in Croatia, 40 in Bosnia-Herzegovina, four in Kosovo, three in Serbia and two in Montenegro.

The group sold 99.9 million cubic metres of natural gas and 46,100 tonnes of liquefied petroleum gas. Electricity sales totaled 227,826 MWh.

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