Supervisory Board Discussed Report on Petrol Group's and Petrol d.d., Ljubljana's Results for the First Three Months of 2015

Ljubljana, 14th May, 2015 - At its 19th meeting held today, the Supervisory Board of Petrol d.d., Ljubljana discussed and approved the Report on the Petrol Groups and Petrol d.d., Ljubljanas results for the first three months of 2015.

The Petrol Group operates in a competitive environment, influenced by oil price trends, global and domestic economic trends, and local legislation regulating energy sales prices. Slovenia, which continues to be the main sales market for Petrols products and services, has recently started to record economic growth, but the economic conditions are still very tough. Sales prices of oil products in Slovenia, which are mostly higher compared to the neighbouring countries, have had negative impact on the Slovenian oil trade. Croatia - the second largest sales market for Petrols products and services is still facing economic recession, reflected in a decline in business activity, poor payment discipline, insolvency and bankruptcies, a decline in private consumption and increased unemployment. In spite of these demanding economic conditions, the Petrol Group achieved good sales results.

The Petrol Group generated sales revenues of EUR 883.5 million, representing a decrease of 4 % on the first three months of 2014 as a result of lower oil prices. Gross profit amounted to EUR 82.6 million, up 5 % from the same period of 2014. Cash flow from operating activities before working capital changes totalled EUR 31.0 million, an increase of 3 % compared with the same period of 2014. The Petrol Groups net profit amounted to EUR 13.3 million, up 3 % from the same period of 2014.

In the first three months of 2015, the Petrol Group sold 643.1 thousand tonnes of oil products, 3 % more than in the first three months of 2014. The Petrol Group sold 52.2 million m3 of natural gas, up 15 % from the same period of the previous year, 19.1 thousand tonnes of liquefied petroleum gas, up 24 % from the same period of 2014, 3.2 TWh of electricity, 74 % more than in the first three months of 2014, and 56.1 thousand MWh of heat, an increase of 88 % on the figure for the first three months of 2014. Revenues from sales of merchandise in the first three months of 2015 amounted to EUR 120.4 million, 1 % up the figure achieved in the same period of 2014. At the end of March 2015, the Petrol Group operated 481 service stations, of which 315 in Slovenia, 102 in Croatia, 39 in Bosnia and Herzegovina, 8 in Serbia, 9 in Montenegro and 8 in Kosovo.

Thorough its active sales policy and further optimisation of all business processes, the Petrol Group will endeavour to operate its business successfully in the demanding economic conditions. The achieved results show that the Group is successful in pursuing its goals.

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