Petrol d.d. Ljubljana

The main activities of the parent company are the trading of petroleum products, other merchandise, electricity, supply and sale of gas and heat and the sale of services.

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Basic information

Responsible person

Tomaž Berločnik

Activities of the company

Petrol d.d., Ljubljana, was formally established on 5 June 1945 as a subsidiary of the stateowned
company Jugopetrol. Before being transformed into a private joint-stock company
in 1997, Petrol had operated under a variety of different organisational forms. Petrol d.d., Ljubljana’s predominant activity is to sell petroleum products and other energy products (liquefied petroleum gas, natural gas and electricity) as well as merchandise and services. In addition, the Company is engaged in environmental and energy solutions projects.

With its 319 service stations, it has a 57-percent share of the Slovene retail market in petroleum products.

It generates the greater part of the Petrol Group’s revenue and profits.

The Company ended the year 2018 with sales revenue of EUR 4.3 billion, up 14 percent from 2017.

Petrol d.d., Ljubljana’s sales revenue was generated also through the sale of:

  • 3.2 million tons of petroleum products,
  • 35.0 thousand tons of LPG,
  • 1.0 TWh of natural gas,
  • 20.6 TWh of electricity,
  • merchandise1 and related services totalling EUR 408.7 million,
  • energy and environmental solutions.

Adjusted gross profit2 stood at EUR 348.7 million, which was 10 percent more than in 2017.

Operating costs totalled EUR 257.6 million or 12 percent more than in 2017. The increase is largely due to the incorporation of Petrol Energetika d.o.o. in the parent company Petrol d.d., Ljubljana. The costs of materials totalled EUR 24.9 million and were 56 percent higher than in 2017. The costs were up mainly due to higher energy costs. The costs of services stood at EUR 121.2 million, an increase of 12 percent over the year before. The latter was largely due to an increase in the costs of fixed-asset maintenance, an increase in rental costs, an increase in the costs of payment transactions and an increase in transport costs, which was the result of higher sales. Labour costs totalled EUR 66.7 million, a year-on-year increase of 26 percent. The increase was the result of the incorporation of Petrol Energetika d.o.o. in the parent company and of additional employment at new points of sale, in the area of IT and new business models as well as in the segment of energy solutions, which was expanded. The depreciation and amortisation charge totalled EUR 37.6 million, which was 17 percent more than in 2017. Other costs stood at EUR 7.2 million.

Net other operating revenue stood at EUR 3.0 million, which was 16 percent less than in 2017, mainly due to lower utilisation of environmental provisions.

Operating profit totalled EUR 94.0 million or 4 percent more than in 2017.

Finance income from dividends of subsidiaries, associates and jointly controlled entities stood at EUR 34.0 million, of which the dividends from IG Energetski sistemi d.o.o. totalled EUR 30.2 million. Net cash flow stood at EUR -11.3 million, an improvement of EUR 3.1 million compared to 2017. In 2018 Petrol d.d., Ljubljana’s allowances for operating receivables were down by EUR 1.5 million compared to 2017, with its net interest expense decreasing by EUR 3.5 million. Net foreign exchange differences were negative in 2018 and as such down EUR 7.0 million compared to 2017. The Company’s finance expenses rose by EUR 2.5 million, which was the result of the impairment of investments and goodwill.

Pre-tax profit totalled EUR 116.7 million or 47 percent more than in 2017. Net profit of Petrol d.d., Ljubljana, for the year 2018 stood at EUR 100.6 million, up 57 percent from 2017.

Total assets of Petrol d.d., Ljubljana, as at 31 December 2018 equalled EUR 1.5 billion, which was 13 percent more than at the end of 2017. Non-current assets accounted for EUR 928.0 million of the above figure, which was 9 percent more than on 31 December 2017, with current assets amounting to EUR 567.8 million, up 20 percent as compared to 31 December 2017.

Following its acquisition in April 2018, Megaenergija d.o.o. was merged into the parent company Petrol d.d., Ljubljana.

Petrol Energetika, d.o.o. was merged into the parent company Petrol d.d., Ljubljana, in May 2018.

Petrol Geoterm d.o.o. was merged into the parent company Petrol d.d., Ljubljana, in December 2018.

The equity of Petrol d.d., Ljubljana, as at 31 December 2018 equalled EUR 582.0 million, which was 21 percent more than at the end of 2017.

1 IFRS 15.

2 Adjusted gross profit or loss = sales revenue - the cost of goods sold. This is an item that is not defined in the International Financial Reporting Standards.

Contact

PETROL, Slovenska energetska družba, d.d., Ljubljana

Dunajska cesta 50, 1000 Ljubljana