Slovenian oil company Petrol: Slovenian and Croatian market crisis influenced company net income decrease

, SEE Energy News

The biggest Slovenian chain of fuel stations Petrol reported on Thursday that its net income in the first quarter decreased by 4% under pressure of weakness in parent Slovenian and neighbor Croatian economy.

“Slovenia and Croatia, two markets where we achieve the biggest production are confronting bad conditions in economy for years when it comes to decrease of business activities, low payment discipline, insolvency, decrease of personal expenses and increase of employment”, Petrol stated today.

Group reported that net income in the first quarter decreased to 12,4 million EUR from 12,9 million EUR from the last year. Incomes increased by 5% to 947 million EUR.

Petrol announced that it expects 4,04 billion EUR incomes in 2013 according to 3,8 billion EUR from the last year Net income should grow to 58,2 million EUR from last year’s 53,9 million EUR.

“Business plan for 2013 is prepared so it takes hard economy conditions in consideration, Net income (in the first quarter) was 20% higher than it had been planned”, it was written in the statement.

Petrol has 469 fuel stations in Slovenia, Croatia, Bosnia and Herzegovina, Montenegro, Serbia and Kosovo.