Supervisory Board Discussed Report on Petrol Group's and Petrol d.d., Ljubljana's Results for the First Nine Months of 2019
Ljubljana, 14th November 2019 - The Report on the Petrol Group’s and Petrol d.d., Ljubljana’s Results for the First Nine Months of 2019 was presented to the Supervisory Board of Petrol d.d., Ljubljana at its 30th meeting held today.
In the first nine months of 2019, the Petrol Group generated the adjusted gross profit of EUR 362.6 million, which is a 14% increase on the same period of 2018. EBITDA totalled EUR 170.9 million, which is a 38% increase compared to the same period of 2018. Had the net effect of financial transactions involving electricity trading been included in EBITDA, the latter would have been lower, totalling EUR 152.9 million. 53% of the Petrol Group’s EBITDA derived from its sales of oil products. Sales of merchandise and related services accounted for 19% of the Petrol Group’s EBITDA, sales of other energy products (natural gas and electricity) for 10%, sales of energy and environmental solutions for 9%, sales of liquefied petroleum gas for 7%, and the production of electricity from renewable sources for 2% of its EBITDA. The Petrol Group’s net profit amounted to EUR 80.1 million, up 16% from the same period of 2018.
In the first nine months of 2019, the Petrol Group sold 2.9 million tonnes of oil products, which is 15% more than in the first nine months of 2018. The Petrol Group sold 137.9 thousand tonnes of liquefied petroleum gas, up 16% from the same period of 2018. In the first nine months of 2019, the Petrol Group sold 15.8 TWh of electricity and 15.4 TWh of natural gas. Revenues from sales of merchandise in the first nine months of 2019 amounted to EUR 354.6 million, up 1% from the figure achieved in the same period of 2018. At the end of September 2019, the Petrol Group operated 507 service stations, of which 318 in Slovenia, 109 in Croatia, 42 in Bosnia and Herzegovina, 14 in Serbia, 13 in Montenegro and 11 in Kosovo.
The Petrol Group’s performance in the first nine months of 2019 reflects its success in fulfilling the set goals. The Management Board of Petrol d.d., Ljubljana ensures that the Petrol Group's business operations are running smoothly and in accordance with the Group’s approved ambitions strategy and annual plan.
In its SEOnet notice of 4 November 2019, the Supervisory Board announced that it will discuss in this meeting the convening of the General Meeting of Shareholders of Petrol d.d., Ljubljana, but was instead briefed at the meeting that on 8 November 2019 the Company had received a request from SDH d.d. shareholders and the Republic of Slovenia to convene the General Meeting and that a General Meeting had already been convened to this effect, which will take place on 12 December 2019.