Petrol BH Oil Company d.o.o. Sarajevo

Activities of the company

The company's principal activity is selling petroleum products, merchandise and services in Bosnia and Herzegovina. In 2020 it sold 190.1 thousand tons of petroleum products and LPG, down 17 percent from 2019. In 2020 Petrol BH Oil Company d.o.o. Sarajevo generated EUR 102.2 million in sales revenue, down 39 percent from 2019. This was largely due to lower prices and lower sales of petroleum products as a result of movement restrictions imposed by countries to curb the pandemic and of the decline in economic activity caused by the pandemic (for more information on the impact of the pandemic, see chapter Analysis of business performance and impact of the pandemic on the Petrol Group's operations in 2020). In Bosnia and Herzegovina, petroleum product prices were set freely in the market, the exception being the period from 9 April 2020 to 20 August 2020 when gross motor fuel margins were limited due to the pandemic (the maximum retail margin was EUR 0.128 per litre and the maximum wholesale margin was EUR 0.031 per litre). The company generated EUR 92.8 million of sales revenue from the sale of petroleum products and LPG and EUR 9.4 million from the sale of merchandise. Its operating profit stood at EUR 5.3 million in 2020, a decrease of EUR 1.1 million from the previous year. The company's net profit for 2020 totalled EUR 5.1 million, a decrease of EUR 850.5 thousand from 2019. Petrol BH Oil Company d.o.o. Sarajevo operated 42 service stations at the end of 2020.

The company's equity totalled EUR 65.6 million as at 31 December 2020.