Petrol Group's business policy for 2010
Ljubljana, 17th December, 2009 At its 16th regular meeting held today, the Supervisory Board of Petrol d.d., Ljubljana discussed and approved The Business Policy of the Petrol Group for 2010.
With regard to the harsh economic situation, financial market conditions and generated net profit, the financial year of the Petrol Group is estimated to be concluded relatively successfully.
Financial and economic conditions in which the Petrol Group will be operating in 2010 will continue to be tough. Operating in harsh financial and economic circumstances demands consistent monitoring and management of all business processes. Therefore, in 2010 particular attention will be devoted to the optimisation and rationalisation of the Groups operations. World oil price movements, the dollar rates, financial and exchange market trends will continue to impact the composition and structure of balance sheet assets and liabilities. Because of the limited availability of long-term financial resources provided by banks, we will try to provide our own resources, mainly through the efficient inventory control, management of operating receivables and cost effectiveness. At the Petrol Group, we will carry on with our investment projects and with activities to decrease indebtedness, thus providing the Groups financial stability.
At the Petrol Group, we have set ourselves a bold task for 2010. The Groups activity will be based on promoting business excellence, as well as monitoring and introducing contemporary approaches in the areas of services, information technology and environmental protection. A strategy for 2010 2014, which will define the Groups main development orientations and strategic goals, is currently under preparation.
We plan to generate net sales revenues of EUR 2.5 billion in 2010, up 11% from the figure estimated for 2009, EBITDA of EUR 96.6 million, up 19% from the figure estimated for the previous year (before the impairment of investments), and net profit of EUR 43.2 million, up 6% from the figure estimated for 2009 (before the impairment of investments).
At the Petrol Group, we plan to sell 2.23 million tonnes of oil products in 2010 - 3% above the figure estimated for 2009, and 122 thousand tonnes of liquefied petroleum gas, natural gas and technical gases - 5% above the figure estimated for 2009. We will generate EUR 407.7 million through the sale of supplementary and other merchandise, 7% more than estimated for 2009. At the Petrol Group, we plan to expand our retail network in Slovenia and abroad in 2010 to 443 service stations including those operated by joint ventures, while our customers are planned to be supplied through 2,400 gas depots and 28 gas supply concessions.
Tomaž KuntaričPresident of the Supervisory BoardAleksander SvetelšekChairman of the Management Board
With regard to the harsh economic situation, financial market conditions and generated net profit, the financial year of the Petrol Group is estimated to be concluded relatively successfully.
Financial and economic conditions in which the Petrol Group will be operating in 2010 will continue to be tough. Operating in harsh financial and economic circumstances demands consistent monitoring and management of all business processes. Therefore, in 2010 particular attention will be devoted to the optimisation and rationalisation of the Groups operations. World oil price movements, the dollar rates, financial and exchange market trends will continue to impact the composition and structure of balance sheet assets and liabilities. Because of the limited availability of long-term financial resources provided by banks, we will try to provide our own resources, mainly through the efficient inventory control, management of operating receivables and cost effectiveness. At the Petrol Group, we will carry on with our investment projects and with activities to decrease indebtedness, thus providing the Groups financial stability.
At the Petrol Group, we have set ourselves a bold task for 2010. The Groups activity will be based on promoting business excellence, as well as monitoring and introducing contemporary approaches in the areas of services, information technology and environmental protection. A strategy for 2010 2014, which will define the Groups main development orientations and strategic goals, is currently under preparation.
We plan to generate net sales revenues of EUR 2.5 billion in 2010, up 11% from the figure estimated for 2009, EBITDA of EUR 96.6 million, up 19% from the figure estimated for the previous year (before the impairment of investments), and net profit of EUR 43.2 million, up 6% from the figure estimated for 2009 (before the impairment of investments).
At the Petrol Group, we plan to sell 2.23 million tonnes of oil products in 2010 - 3% above the figure estimated for 2009, and 122 thousand tonnes of liquefied petroleum gas, natural gas and technical gases - 5% above the figure estimated for 2009. We will generate EUR 407.7 million through the sale of supplementary and other merchandise, 7% more than estimated for 2009. At the Petrol Group, we plan to expand our retail network in Slovenia and abroad in 2010 to 443 service stations including those operated by joint ventures, while our customers are planned to be supplied through 2,400 gas depots and 28 gas supply concessions.
Tomaž KuntaričPresident of the Supervisory BoardAleksander SvetelšekChairman of the Management Board
* * *