Slovenia: Oil company Petrol, Revenues and profits are being reduced, SEE Energy News
In the first three months of this year, the Slovenian Energy group Petrol marked revenues of 919 million euros, gross profit of 78.5 million euros, and the results were lower than in the same period last year, it was announced on Friday, on the Petrol website of the Ljubljana’s Stock Exchange. “Revenue and profits were reduced by three percent, primarily due to reduced sales of energy because of the mild winter,” it is said in the statement.
Besides selling fuel, in the first three months Petrol in its services sold merchandise goods worth 118.9 million euros, which is one percent higher than in the first quarter last year.
Petrol Group has 477 filling stations, of which 319 in Slovenia, 98 in Croatia, Bosnia and Herzegovina, 37 in Serbia 8, Montenegro 8 and Kosovo 7.
The Supervisory Board of the company said that its operations in the first quarter of the year before was positive due to the conditions of the market.
“Petrol operates in a competitive environment that is strongly affected by the world’s and local’s economic trends. Slovenia and Croatia as the largest Petrol sales markets already several years are being faced with sharpened economic conditions. This is reflected in the decline in economic activity, weak payment discipline, insolvency and bankruptcy of companies, low private consumption and high unemployment. In the first quarter, as far as these circumstances, Petrol reached good results “, the supervisory board of the company assessed.