Petrol to Open 15 More Stations in Croatia by 2022

Lauren Simmonds

In addition to Croatia, the company will increase the number of gas stations in Serbia, Montenegro, and Bosnia and Herzegovina.

As Poslovni Dnevnik writes on the 26th of June, 2018, the Slovene Group Petrol plans to increase its sales revenue by about 17 percent over the coming five years according to the business plan of the group. Sales revenues are expected to reach 5.3 billion euro in 2022, and in that period net profit will rise by 42% and reach 116 million euro in the same year.

Last year, the group recorded impressive sales revenues of 4.5 billion euro, and it is expected that this year they will record roughly the same revenue. Last year’s net profit stood at 81.6 million euro, and this year that figure is expected to increase by six percent, Slovenia’s Delo writes.

Additionally, the company is planning significant changes in its sales structure. It is expected that the sale of petroleum products will increase by about 10 percent, and by 2022 it will reach a massive 3.34 million tons. According to the aforementioned plans, the company’s goal is primarily to increase the network of gas stations across Serbia, as well as partly in here in Croatia and in neighbouring Montenegro. In Serbia, where Petrol has 13 pumps already, it is expected that their number will increase to as many as 30 over the next five years.

In Croatia, 15 new gas stations should be opened, six in Montenegro, and four in Bosnia and Herzegovina, at least according to the company’s aims. In Slovenia, their number will increase from the current 319 to 327. On the markets of South-East Europe, Petrol also plans to increase its sales of goods. It is expected that the total revenue from the sale of goods in 2022 will amount to 700 million euro, which is 30 percent more than it was last year.

EBITDA is expected to increase by more than a third, reaching a huge 233 million euro in the year 2022. At the same time, Petrol is now achieving 55 percent of its EBITDA sales of petroleum products, and it is expected that its share will fall to 41 percent by 2022. Approximate calculations show that the EBITDA of oil activity will, however, increase by two percent.

A fifth of the cash flow will be generated by selling goods, which is equal to the share now available from selling products on the shelves.

The impact of the sale of renewable energy sources, which should contribute eight percent of EBITDA in 2022, continues to intensify, now accounting for three percent.

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