North Macedonia: Slightly higher profit for Makpetrol in Q1 2021

In the first quarter of 2021, North Macedonian fuel retail company Makpetrol posted non-consolidated net profit of some 600,000 euros, which is 4.7 % higher compared to the same period last year. The company’s operating revenues decreased by 17.8 % to 63.4 million euros in the first three months of the year, while operating expenses also fell by 18.4 %, reaching 63.3 million euros in the same period. Domestic sales fell by 16 % to 61.7 million euros, while sale on the foreign markets fell by 64.2 % to 1.1 million euros. Makpetrol recorded a net profit in the amount of 5.7 million euros in 2020, compared to a net profit of 12.9 million euros recorded the previous year. The company’s operating revenues decreased by 27 % to 272.6 million euros in 2020, while operating expenses also fell by 25 % year-on-year, reaching over 267.8 million euros

Last week, Makpetrol proposed to distribute gross dividend in the amount of 32.6 euros/share for 2020, the same as in the previous year. According to the proposal, the company will distribute a total of 3.3 million euros in dividend from last year’s profit. Shareholders will vote on this proposal at the next general meeting scheduled for 26 May.

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