Petrol is the largest company in Slovenia for total revenue, and its business activities are based on the petroleum products trading with the fast – growing energy activities which include gas, heating, electricity, solutions for environmental protection and energy solutions.
Petrol competitive advantages are independence and flexibility in the petroleum products procurement, private storage capacities and optimal logistics network and broad network of retail stations.
Petrol Group expects 3.87 billion EUR of revenue from the sale in 2013th, which is 3 % higher than in 2012th. The planned level of sales in 2014th reaches 3.94 billion EUR, which is an increase of 2 % in comparison with expectations for 2013th. At the same time, EBITDA for 2013th is expected at a level of 131 MEUR, while in 2014th this number should increase 5 % with respect to the expectations for 2013th. Petrol Group expects a net profit of 58 MEUR in 2013th, but that amount does not include possible revaluation. Net profit for 2014th is planned at the level of 65MEUR, 12 % higher than the estimates for 2013th.
Petrol Group plans investment of 75MEUR in fixed assets, with investments politics based on the expansion of petroleum products and goods for resale in Southeastern Europe, the business expansion in the other energy sectors in Slovenia and Southeastern Europe (gas, electricity, efficient energy consumption, projects aimed at environmental protection), and consolidation of Group position in the sense of petroleum products sale and goods for resale in Slovenia. Minimum return on investments which company expects is the capital cost (WACC) estimated at 9-12% within the Group.
At the same time, the financial stability of Group was measured as an indicator of net debt / EBITDA, it should be improved from 4.3 x (estimate for 2013th) at 3.9x in 2014th. The company will probably refinance the debt through the issuance of domestic bonds to 100MEUR within a few months. The current Petrol average cost of debt is 4.3%. CFO also mentioned that the company currently has no firm plans about increasing or sale of minority stakes in companies GEN-I and Geoplin.
Source; Serbia Energy See Desk
