Slovenia: Oil company Petrol marks improved business results, the financial report

, SEE Energy News

Slovenia Petrol Group announced estimated results for 2013th and 2014th last week, as part of the Business plan summary and key objectives for 2014th.

Key numbers published in the publication include a 2 % increase in revenues from sales in 2014th (compared to estimates for 2013th), 5 % increase in EBITDA (compared to estimates for 2013th), and 12 % higher net profit (compared to estimates for 2013th). Petrol Group expects 3.87 billion EUR of sales in 2013th, which is 3 % higher than in 2012th. The planned level of sales in 2014th reaches 3.94 billion EUR, an increase of 2 % in comparison with expectations for 2013th. At the same time, EBITDA for 2013th is expected at a level of 131.0 MEUR, while in 2014th this number should increase by 5 % with respect to the expectations for 2013th. Petrol Group expects a net profit of 58.0 MEUR in 2013th, but that amount does not include possible revaluation. Net profit for 2014th is planned at the level of 65.0 MEUR, 12 % higher than the estimates for 2013th.

Petrol Group plans to invest 75 MEUR in fixed assets in 2014th, with the investment policy focused on sales expanding of petroleum products and merchandise in southeastern Europe, the business expansion in other energy segments in Slovenia and South-Eastern Europe (gas, electricity, efficient energy consumption, projects focused on the environment) and the position consolidation of the Group in terms of petroleum products and merchandise sales in Slovenia. At the same time, the financial stability of the Group, measured by an indicator net debt / EBITDA, should be improved from 4.3 x (estimate for 2013th) to 3.9x in 2014th.

The company objectives are set about our rank estimates, why we think it is realistic to expect that Petrol will achieve results in the area of these numbers.

Source: Serbia Energy See desk

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