The Slovenia Times

Petrol group with ambitious business plan for 2022


Ljubljana - The energy group Petrol has published an ambitious business plan for 2022, with both sales and net profit expected to grow. The main risks to achieving the set plan, on the other hand, are the expected negative effects of the energy crisis on inflation and management of operating costs.

The plan, which was approved by the supervisory board on Thursday, sees sales revenue increasing to EUR 5.9 billion next year, and adjusted gross profit standing at EUR 643.9 million, the company said in Friday's press release.

The Petrol group expects to achieve the plan by selling 3.6 million tonnes of petroleum products, 162,400 tonnes of liquefied petroleum gas, 24.2 terawatt hours of natural gas, and merchandise in the amount of EUR 532.2 million.

The remaining planned sales are expected to be generated by the production, trading and sale of electricity and of energy and environmental solutions.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) is planned at EUR 297.8 million in 2022, with the expected ratio between net debt and EBITDA standing at 1.6. Net profit is expected to reach EUR 158.3 million next year.

In the first nine months of this year, the Petrol group increased its revenue by 34% year-on-year to EUR 3.1 billion, and net profit more than doubled to EUR 91.2 million.

The press release says that the main risk for achieving the set plan were the negative effects of the energy crisis on inflation and, consequently, the growth of costs of living and management of operating costs.

CEO Nada Drobne Popović noted a stable economic growth this year in all markets where Petrol is present, while adding that this was accompanied by a high growth in energy prices.

Consequently, there were adjustments of prices of certain oil derivatives in Slovenia and Croatia, the two principal markets for Petrol, the release adds.

"Our plan for 2022 is optimistic and it corresponds to the ambitious targets set by the Petrol group in its 2025 strategy, where we have committed ourselves to making a transition to green energy."

We assume that the growth of energy product prices will settle down in 2022 and that governments will adopt various measures to promote economic activity and consumption level," the statement by Drobne Popović adds.

The group plans to earmark up to EUR 100 million for further development projects in 2022, of which more than half for energy transition projects.


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