Slovenia: Profit plan for 2021 at Petrol, SEE Energy News
Slovenian energy company Petrol’s target net profit for this year is 110 million euros, but it was later revised due to the coronavirus pandemic. The company announced that it plans to finish 2021 with a consolidated net profit in the amount of 104.5 million euros and sales revenues in the amount of some 3.5 billion euros.
Petrol is planning to achieve these results by selling 3 million tons of petroleum products, 171,700 tons of liquefied petroleum gas (LPG), 25.6 TWh of natural gas, as well as through merchandise sales of 446.2 million euros and electricity production and trading. EBITDA of Petrol Group is estimated at 213.5 million euros. In drawing up the 2021 plan, the group assumed that the pandemic will be effectively contained through vaccination in the first half of 2021. However, a considerable uncertainty remains about the achievement of the plan, which will be subject to revision depending on how the pandemic develops. recorded a net profit in the amount of 40.5 million euros in the first nine months of 2020, which is by 49 % lower compared to the same period last year. The group’s sales revenue dropped by 30 % year-on-year to 2.29 billion euros in January-September 2020 period, due to lower sales of petroleum products, resulting from the lockdown measures taken to curb the coronavirus pandemic. EBITDA dropped by 25 % to 114.4 million euros in the first nine months of 2020, however, the result was comparatively better than the one of the main regional competitors. In January-September 2020, Petrol group sold 2.3 million tons of petroleum products, which is by 21 % lower compared to the same period in 2019. The sale of liquefied petroleum gas fell by 17 % to 114,300 tons, while the volume of sold natural gas amounted to 19.9 TWh. At the end of September, Petrol operated 510 service stations, including 318 in Slovenia, 110 in Croatia, 42 in Bosnia and Herzegovina, 15 in Serbia, 15 in Montenegro and 10 in Kosovo.