Ljubljana, 9 April 2026 – At its 15th meeting, the Supervisory Board of Petrol d.d., Ljubljana discussed and approved the Annual Report of the Petrol Group and Petrol d.d., Ljubljana, for 2025. In the extremely challenging regulatory and geopolitical situation, the Petrol Group achieved good business results, although lower than planned, primarily owing to more stringent regulatory conditions in the Slovenian market.

The year 2025 was characterised by the high geopolitical uncertainty, ongoing energy price regulation, and changes in energy markets. In Slovenia, the regulatory framework further tightened, as the margin regulation was expanded to motorway service stations. Despite these challenges, the Petrol Group maintained business stability through a flexible business model, effective risk management, and growth in foreign markets.

Upon the approval of the Annual Report for 2025, Sašo Berger, President of the Management Board of Petrol d.d., Ljubljana, emphasised: “The Petrol Group’s operations in 2025 were heavily influenced by regulatory restrictions and changed conditions in the energy markets. In such an environment, we maintained business stability, primarily through growth in foreign markets and consistent cost management. However, due to the aforementioned external factors, we did not fully meet the set targets.”

Vesna Južna, President of the Supervisory Board, emphasised: “Despite the results achieved by the Petrol Group, I am not satisfied with the overall situation surrounding Petrol’s operations. In Slovenia, the determination of retail margins for petroleum products remains open, unresolved, and even unlawful, as the margin does not cover the rising costs incurred by retailers (logistics, employee wages, maintenance, etc.) associated with ensuring petroleum product supply across the retail network. The current method for determining an appropriate retail margin is unknown to us and lacks a professional basis; what we know is that it is not sustainable in the long term and does not allow for the normal development of business. Given the current global situation affecting the supply of petroleum products, it is essential that changes to the regulatory framework governing the pricing of petroleum products and retail margins are adopted urgently. It is also unacceptable that the state has still not compensated Petrol for the damage incurred as a result of the freeze on retail prices in 2022 and regulation in 2023 and 2024, forcing the company to pursue compensation through legal proceedings.”

Key performance indicators

In 2025, the Petrol Group generated EUR 6.1 billion in revenue. Sales volumes of petroleum products, natural gas, and electricity increased, with year-on-year growth ranging roughly between five to ten percent, which confirms the strengthening of our market position.

Gross profit amounted to EUR 768 million, an increase of 5 percent compared to 2024, but below the plan. EBITDA of the Petrol Group totalled EUR 326.6 million, a year-on-year increase of 4 percent but 4 percent short of the plan, and in Slovenia it was EUR 34 million lower than in 2024. Net profit amounted to EUR 174.2 million, which is EUR 3.6 million below the plan. Profit before tax amounted to EUR 221 million, up 18 percent compared with the previous year.

Through effective cost control, increased sales volumes across categories, and good results in markets outside Slovenia, the Petrol Group managed to mitigate the majority of negative regulatory impacts. Despite the pressure on margins, cost efficiency remains one of the key pillars of operations.

In 2025, we invested EUR 100 million, most of all in the renovation of service stations, development of renewable sources, e-mobility, and business digitalisation. In this context, we continued the energy transition development projects, extended the e-mobility network (in total already more than 1,150 charging points), and upgraded digital services for users.

Analysis of operations by segments

In 2025, the Petrol Group sold 4.1 million tonnes of fuels and petroleum products, a year-on-year increase of 6 percent, primarily due to higher sales in foreign markets. Revenue from sales of merchandise and services amounted to EUR 662 million, up 4 percent year-on-year.

Nearly one million customers trust Petrol every day for the supply of energy, energy solutions, and mobility services; the Petrol Club community has already more than one million members.

In 2025, Petrol continued to develop energy solutions and strengthen activities in the fields of electricity, natural gas, and sustainable solutions. An important step is also the introduction of the Petrol Pay Loyalty payment card, which is a combination of the loyalty program and an international payment card.

Response to the current situation on energy markets

The year 2025 and the beginning of 2026 were additionally characterised by heightened instability on energy markets and fuel supply challenges. The Petrol Group responded to the changed circumstances quickly, professionally, and responsibly, while also ensuring a stable supply to the market even under increasingly challenging conditions.

Strategic outlook

The Petrol Group has laid the foundations for its new strategy for the 2026–2030 period, focused on stable growth, greater diversification of operations, and long‑term sustainability. By 2030, the Group aims to exceed EUR 500 million in EBITDA and generate approximately EUR 300 million in net profit, underpinned by strong financial discipline and improved credit rating. The strategy is based on strengthening the retail core, accelerating the growth of multi‑energy solutions, enhancing regional presence, and further diversifying revenue streams.

The business environment remains demanding and unpredictable, primarily due to geopolitical tensions, energy price volatility, and regulatory pressures. Consequently, future business development will be significantly influenced by changes to the regulatory framework in the field petroleum product pricing.

Going forward, the Petrol Group will remain focused on cost efficiency, expansion in foreign markets, and the accelerated implementation of projects related to the energy transition, digitalisation, and sustainable mobility.

Vesna Južna
Supervisory Board President

Sašo Berger
Management Board President