Slovenia: Decreased profit at Petrol in the first nine months of 2020

, SEE Energy News

In the first nine months of 2020, Slovenian energy group Petrol announced that it recorded a net profit in the amount of 40.5 million euros, which is by 49 % lower compared to the same period last year. The group’s sales revenue dropped by 30 % year-on-year to 2.29 billion euros in January-September 2020 period, due to lower sales of petroleum products, resulting from the lockdown measures taken to curb the coronavirus pandemic.

The group’s earnings before interest, taxes, depreciation, and amortization (EBITDA) dropped by 25 % to 114.4 million euros in the first nine months of 2020, however, the result was comparatively better than the one of the main regional competitors.

Some 44 % of the EBITDA was generated by sales of petroleum products, 21 % came from merchandise sales and related services, 17 % came from the sale of other energy products (natural gas, electricity, LPG), 15 % was generated by energy and environmental solutions, while sales of renewable energy accounted for the remaining 3 %.

In January-September 2020, Petrol group sold 2.3 million tons of petroleum products, which is by 21 % lower compared to the same period in 2019. The sale of liquefied petroleum gas fell by 17 % to 114,300 tons, while the volume of sold natural gas amounted to 19.9 TWh.

At the end of September, Petrol operated 510 service stations, including 318 in Slovenia, 110 in Croatia, 42 in Bosnia and Herzegovina, 15 in Serbia, 15 in Montenegro and 10 in Kosovo.