North Macedonia, Makpetrol expects to achieve a pre-tax profit of some 14.2 million euros in 2023

, SEE Energy News

Macedonian fuel retail company Makpetrol said that it expects to achieve a pre-tax profit of some 14.2 million euros in 2023, which is 38 % less compared to the previous year.

The company expects its total revenues to rise by 5 % year-on-year to 640 million euros, while its total expenditures should also rise by 7 % to 625.5 million euros in 2023.

Operating revenues are projected to rise by 5 % at the annual level to 63.3 million euros in 202, due to lower margin caps on oil derivatives set by the Government, while operating expenditures will rise by 16 % to 55.2 million euros, due to an expected rise in salary expenses.

Makpetrol expects the sale of 314,000 tons of oil products in 2023, which is a rise of 3.4 % compared to 2022, as well as 786 million kWh natural gas, a drop of 13.5 % compared to 2022.

Makpetrol posted non-consolidated net profit of 21.1 million euros in 2022, which is 6 % lower compared to the previous year.

The company’s operating revenues increased by 68 % to 608.6 million euros in 2022, while operating expenses also rose by 73 %, reaching 587.5 million euros in the same period. Domestic sales rose by 70 % to 570 million euros, while sales on the foreign markets more than doubled to 34.1 million euros.

Makpetrol operates a network of over a hundred petrol stations in North Macedonia. The company also has units in neighboring Serbia and Greece.

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