Supervisory Board Discussed Report on Petrol Group's and Petrol d.d., Ljubljana's Results for the First Nine Months of 2018
Ljubljana, 15th November 2018 - The Report on the Petrol Group’s and Petrol d.d., Ljubljana’s Results for the first nine months of 2018 was presented to the Supervisory Board of Petrol d.d., Ljubljana at its 20th meeting held today.
In the first nine months of 2018, the Petrol Group generated the adjusted gross profit of EUR 318.8 million, which is a 2% increase on the same period of 2017. EBITDA totalled EUR 124.1 million, which is a 1% increase compared to the same period of 2017. 57% of the Petrol Group’s EBITDA derived from its sales of oil products. Sales of merchandise and related services accounted for 20% of the Petrol Group’s EBITDA, sales of energy and environmental solutions for 9%, sales of liquefied petroleum gas for 6%, sales of other energy products for 5%, and the production of renewable electricity for 3% of its EBITDA. The Petrol Group’s net profit amounted to EUR 68.8 million, up 14% from the same period of 2017.
In the first nine months of 2018, the Petrol Group sold 2.5 million tonnes of oil products, which is 1% more than in the first nine months of 2017. The Petrol Group sold 13.2 TWh of natural gas, which is significantly more compared to the same period of the previous year due to the full consolidation of Geoplin d.o.o. Ljubljana. The Petrol Group sold 119.4 thousand tonnes of liquefied petroleum gas, up 5% from the same period of 2017. Revenues from sales of merchandise in the first nine months of 2018 amounted to EUR 445.9 million, up 11% from the figure achieved in the same period of 2017. At the end of September 2018, the Petrol Group operated 495 service stations, of which 317 in Slovenia, 105 in Croatia, 39 in Bosnia and Herzegovina, 12 in Serbia, 11 in Montenegro and 11 in Kosovo.
In accordance with the strategy Petrol’s business model, based on innovativeness and cost efficiency, provides simple, comprehensive, contemporary and reliable solutions to its customers. Risk management is incorporated into all levels of activities, thus contributing to the creation of new value for shareholders and maintenance of a good investment credit rating. By achieving the planned goals, the long-term financial stability of the Petrol Group will be strengthened. A stable dividend policy will result in the balance of dividend yields; free cash flow will be used to finance the investment plans of the Petrol Group. This will contribute to its long-term growth and development resulting in the maximisation of value for the owners.
Nada Drobne Popović
President of the Supervisory Board
President of the Management Board