Slovenia: Profit at Petrol decreased almost 50%

, SEE Energy News

At the end of June, Slovenian energy group Petrol operated 510 petrol stations, including 318 in Slovenia, 110 in Croatia, 42 in Bosnia and Herzegovina, 15 in Serbia, 15 in Montenegro and 10 in Kosovo.

Petrol said that its consolidated net profit in the first half of 2020 amounted to 20.6 million euros, which is by 49 % lower compared to the same period last year.

The group’s sales revenues dropped by 28 % year-on-year to 1.533 billion euros in the first six months of 2020, due to lower sales of petroleum products, resulting from the lockdown measures imposed to combat the spread of coronavirus pandemic. Earnings before interest, taxes, depreciation, and amortization (EBITDA) dropped by 22 % to 64.3 million euros. However, this result was comparatively better than the one of its regional competitors. 36 % of the group’s EBITDA was generated by petroleum products sales, 20 % came from merchandise sales and related services, 21 % was generated by energy and environmental solutions, 19 % came from the sale of other energy products (natural gas, electricity, LPG), while sales of renewable energy accounted for the remaining 4 %. In January-June 2020 period, Petrol sold 1.51 million tons of petroleum products, which is 18 % less compared to a year before. The sale of liquefied petroleum gas (LPG) fell by 15 % to 76,600 tons, while the volume of sold natural gas rose by 235 % to 12.3 TWh.