Slovenia: Higher dividend for 2019 at Petrol still proposed

, SEE Energy News

Last year, Slovenian energy group Petrol distributed dividends in the amount of 18 euros/share. Petrol said that it plans to distribute a gross dividend in the amount of 22 euros per share for 2019. The proposal will be put to a vote at the next shareholders’ meeting scheduled for 23 July. Initially, the meeting was planned for 23 April but it was cancelled due to coronavirus outbreak. Petrol generated sales revenues in the amount of 4.4 billion euros in 2019, which is 1 % more than in 2018, while net profit was up by 15 % to 105.2 million euros. The group recorded 472.9 million euros in adjusted gross profit in 2019, up 7 % year-on-year, while earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 9 % to 196.5 million euros. The net debt-to-EBITDA ratio at the end of 2019 was 1.8, up from 1.7 at the end of 2018. The group sold 3.7 million tons of petroleum products in 2019, 6 % more than in 2018, at a total of 509 of its petrol stations (318 stations in Slovenia, 110 in Croatia, 42 in Bosnia-Herzegovina, 14 in Serbia, 14 in Montenegro and 11 in Kosovo). The group also sold 21.5 TWh of natural gas, 176,400 tons of liquefied petroleum gas (LPG), 22.6 TWh of electricity and 145.8 thousand MWh of heating energy. Revenues from sales of merchandise and related services meanwhile amounted to 466.5 million euros in 2019, on a par with 2018.