STA, 18 March 2022 - The energy group Petrol generated sales revenues of EUR 4.96 billion in 2021, which is up 61% year-on-year. Net profit was up by 72% to EUR 124.5 million, the parent company said in a press release on Friday. The management will propose a dividend of EUR 30 gross per share for 2021, in line with the adopted dividend policy.
The group last year posted EUR 543.4 million in adjusted gross profit, up 27% over 2020, while earnings before interest, taxes, depreciation and amortisation (EBITDA) increased by 43% to EUR 238.1 million.
The majority of this was driven by sales of petroleum products, a fifth was generated by sales of merchandise and related services, and the rest by sales of other energy products, energy and environmental solutions and the generation of electricity from renewable sources.
In 2021 the Petrol group earmarked EUR 233.2 million net for investments in property, plant and equipment, intangible assets and for long-term investments, reads the press release.
"Regional indicators show the strengthening of the Petrol group in Southeast Europe where it generated 28% of its operating profit and 31% of the EBITDA in 2021."
At the end of last year, the group's retail network comprised nearly 600 points of sale, of which almost a half were abroad.
The year was again marked by the Covid-19 pandemic and related restrictions. Another external factor affecting the company's operations last year was the energy crisis, which saw energy price hikes, especially in terms of electricity and natural gas, whose prices reached historic levels.
The group said it had managed to adapt to both factors and mitigate their negative effects, "and what is more, it has even exceeded the ambitious goals".
Under its 2021-2025 strategy, the group aims to diversify its operations towards the energy transition. "This segment's EBITDA accounted for 26% in 2021. As many as 62% of investments were earmarked for the energy transition."
On Thursday, the Petrol supervisory board proposed to the general assembly of Petrol shareholders a dividend for 2021 of EUR 30 gross per share, chief supervisor Janez Žlak and CEO Nada Drobne Popović announced in a separate statement.
Touching on the situation in Ukraine, the group said it had no subsidiaries or representative offices in Ukraine, Russia or Belarus.
It also explained that the share of sales revenue generated by the group in these markets was insignificant and that the procurement of energy products in these markets, with the exception of natural gas, represented a small share of Petrol's portfolio.
For Petrol, Russia as a source of supply in 2021 and the first two months of 2022 for diesel and extra light heating oil accounts for less than 7%. However, no petrol is imported from Russia, the group added.
