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Petrol AD

Summary

Company ID (NIN)

831496285

Company owner / manager

  • Alfa Capital AD
  • Korekt Farm EOOD
  • Yulinor EOOD
  • Perfeto Consulting EOOD
  • Others

Country

Bulgaria

Capital

109,250,000

Total assets

137,004,000

Net loss for the period

5,933,000

Report year

2020

Currency

BGN

Industry

Filling Stations

Southeastern Europe Company Index (SEECI)

What is SEECI?

General information

About Petrol AD

Petrol AD is a Bulgarian automotive fuel retailer, operating a chain of petrol stations in the country.

The subsidiaries of Petrol AD are engaged in processing, distribution and retail of petrol and petrol products, construction and maintenance of gas stations.

Petrol AD holds an ISO 9001:2015 Quality management systems certificate, valid until Sept 2, 2022.

Last updated on Nov 11, 2021.

Meta info
Status
Active
Legal form
Joint Stock Company
Incorporation date
April 1, 1932
NIN
831496285
Tickers
PET
Stock Exchange
Bulgarian Stock Exchange
ISIN
BG11PESOBT13
Profile last updated
Nov. 11, 2021, 11:26 a.m.
Alternative names

    Petrol JSC

History

    Apr 1, 1932 – The company is established in Bulgaria's capital Sofia.

    Mar 9, 1948 - It transforms into state-owned company Petrol.

    1986 - The company transforms into Kombinat Petrol and becomes part of state-owned economic association Stopansko Obedinenie Himsnab.

    Mar 14, 1990 - Kombinat Petrol transforms into state-owned company DF Petrol.

    July 1, 1992 – The company transforms into a state-owned joint stock company Petrol EAD, with capital of BGN 152.426 mln. It assumes all the assets of DF Petrol.

    Jan 4, 1995 – Petrol EAD and German Union-Tank Eckstein GmbH and Co. KG set up trading company Petrol Card Service OOD, in Sofia, Bulgaria. Petrol AD holds 50% of the shares of the newly established company. In July 2004 Petrol acquires 100% in Petrol Card Service OOD and sells it to Petrol Holding AD in 2007.

    1996 – The company sets up engineering company Petrol Inzhenering AD, in partnership with Sofia-based engineering company Petrol International AD and wholesaler Sistemkomers AD, Sofia. Petrol AD holds 40% of the shares in Petrol Inzhenering AD and in 2007 the company sells its stake to Petrol Holding AD.

    1992-1997 – The Bulgarian Privatisation Agency sells 25% of Petrol EAD in the mass privatisation.

    May 19, 1998 – The company lists on the Bulgarian Stock Exchange.

    Aug 4, 1999 – The Bulgarian Privatisation Agency sells 51% in Petrol AD to consortium Mezhdunaroden Konsortzium Bulgaria AD, comprising of Bulgarian oil company Yukos Petroleum Bulgaria AD, Austrian fuel retailer OMV AG and Bulgarian diversified holding Petrol Holding Group AD for a total of USD 52 mln. In 2001 Naftex Bulgaria Holding acquires Petrol AD's shares from the rest of the participants in the consortium. The deal includes an in-kind contribution of 25 petrol stations to fuel retailer OMV Bulgaria OOD, the Bulgarian arm of OMV AG, in return for its stake in Petrol AD.

    Dec 27, 2000 – Petrol AD establishes trade and logistics company Petrol Trans Express EOOD, in Burgas, eastern Bulgaria.

    August 2001 – The company establishes specialised construction company Petrol Tehnika EOOD in Sofia.

    September 2001 – Petrol AD sets up fuel storage company Petrol Storage EOOD, based in Sofia, renamed in 2007 to New Co Zagora EOOD. In 2007 Petrol AD sells New Co Zagora EOOD.

    Oct 2, 2001 – The company establishes trading company Petrol Trade EOOD, in Sofia, which is sold to Petrol Holding AD in 2007.

    Nov 5, 2002 – Petrol AD and a local individual set up satellite telecommunications company Transat AD. Petrol AD holds 98% of the newly established company. In 2004 the company sells its stake in Transat AD to diversified holding Transhold Bulgaria AD.

    June 25, 2003 – Petrol AD and a local individual establish gambling company Transloto AD. Petrol AD holds 99.98% of the shares of the newly established company. In 2007 Petrol AD sells Transloto AD to Petrol Holding AD.

    Nov 13, 2003 – The company and a local individual set up telecommunications company Trans Telecom OOD. Petrol AD holds 95% of the shares of the newly established company. On October 18, 2005 the company sells its shares in Trans Telecom OOD to Transhold Bulgaria AD.

    November 2003 - Petrol AD acquires 99.8% of the shares of trade company Eurocapital Bulgaria AD. On May 26, 2005 Petrol AD acquires full ownership of Eurocapital Bulgaria EAD. In 2007 Petrol AD sells Eurocapital Bulgaria EAD to Naftex Petrol EOOD and Petrol Holding AD.

    Nov 20, 2003 – The company issues five-year corporate bonds totaling BGN 15 mln, traded on the Bulgarian Stock Exchange.

    Jan 23, 2004 – Petrol AD acquires full ownership of oil wholesaler Naftex Petrol OOD, based in Varna, northeastern Bulgaria.

    August 2004 – The company acquires 36.7% in Varna-based consulting company Varna Business Services OOD. In 2007 the company sells its stake to Petrol Holding AD.

    Sep 30, 2004 – Petrol Holding AD acquires 70.57% of Petrol AD.

    Apr 25, 2005 – Petrol AD acquires 100% in consulting company BPI EAD, Sofia.  In 2007 the company sells BPI EAD to Petrol Holding AD.

    October 2006 – The company places another issue of five-year corporate bonds, totalling EUR 100 mln on the London Stock Exchange. The emission is graded B3 by Moody's Corp.,  B- by Fitch Ratings and B- by Standard & Poor's Corp rating agencies, with a stable outlook assigned by the three companies.

    Mar 15, 2007 – Petrol AD becomes the sole owner of property management company Vratsata EOOD, based in Vratsa, northwestern Bulgaria. In 2008 Petrol sells Vratsata EOOD to Petrol Holding AD.

    May 23, 2007 – The company and a Turkish individual establish fuel wholesaler Petrol Gaz OOD. Petrol AD holds 90% of the shares of the newly established company.

    Dec 28, 2007 – Petrol AD establishes wholly owned real estate company Petrol Properties EOOD, based in Sofia.

    Apr 4, 2008 – Varna-based fuel wholesaler Naftex Petrol EOOD buys the 18.84% stake in Petrol AD held by United Arab Emirates (UAE)-based Naftex Refining and Petrochemical Engineering Services.

    Dec 22, 2012 - Petrol AD repurchases the Eurobonds it issued in 2006 on the international capital markets with nominal value of EUR 68.379 mln, interest rate 8.375%, and maturity in 2017, for a total of EUR 55.166 mln.

    Jan 9, 2013 - The company repurchases the rest of the issued Eurobonds for a total of EUR 13.213 mln.

    May 13, 2013 - The Financial Supervision Commission of Republic of Bulgaria forces Petrol AD to cancel 45,719,000 shares of its capital, held by Petrol's subsidiary Naftex Petrol EOOD, as a result of a legal violation. The violation consists in the fact that, according to Bulgarian laws, a subsidiary is not permitted to hold shares of its parent company for more than a year and not transfer the capital to a third party. On May 27, 2013 Petrol AD announces intention to appeal the decision to the Supreme Court.

    Jan 14, 2014 - Naftex Petrol EOOD sells 41.4% in Petrol AD to local companies Yulinor EOOD and VIP Properties EOOD for a total of BGN 132 mln.

    Oct 14, 2014 - The company moves its headquarters to Lovech, northwestern Bulgaria, from Sofia.

    October 2017 - Petrol AD buys a 99.99% stake in Lozen Asset AD for BGN 1,751.

    October 2017 - The company buys a 100% stake in Storage Invest EOOD for BGN 33,000.

    November 2017 - The company sells 99.9% in Griffin Power AD to local individual for BGN 21,800.

    December 2017 - Petrol AD sells 99.6% in BPI AD to local individual for BGN 4,000.

    December 2017 - The company sells 100% in Petrol Gas EOOD to local individual for BGN 2,000.

    March 2018 - Petrol AD sells 99.9% in Elit Petrol AD for BGN 25,000.

    March 2018 - The company buys a 100% stake in Varna Storage EOOD for BGN 6,500.

    June 2019 - Petrol AD sets up Kremikovtsi Oil EOOD and Shumen Storage EOOD.

    July 2019 - The company establishes Office Estate EOOD.

    August 2019 - Petrol AD sells its 100% stake in Storage Invest EOOD for BGN 47,000.

    September 2019 - The company sets up Svilengrad Oil EOOD and Varna 2130 EOOD.

    December 2019 - Petrol AD acquires 98.80% in Petrol Тechnologies OOD.

    February 2020 - The company buys a 10% stake in the trade company Elit Petrol AD for BGN 2,500.

    Last updated on Nov 11, 2021.

Management

Board of Directors and Executives
Georgi Ivanov Tatarski
Deputy-Chairman of the Board
Lachezar Nikolov Gramatikov
Member of the Board
Grisha Danailov Ganchev
Chairman of the Board
Kiril Emilov Shilegov
Member of the Board
Milko Konstantinov Dimitrov
Member of the Board
Georgi Ivanov Tatarski
CEO
Milko Konstantinov Dimitrov
CEO
Supervisory Board
Ivan Alipiev Voinovski
Chairman of the Board
Armen Nazaryan, a representative of Petrol Asset Management EOOD
Member of the Board
Nikolay Gergov, a representative of Petrol Correct EOOD
Member of the Board

Contacts

Address
12, Targovska Str.
5500
Lovech, Bulgaria
Telephones

+359 2 496 0425
+359 2 496 0479

Fax

+359 2 496 0296

Emails

office@petrol.bg
delovodstvo@petrol.bg

Websites
www.petrol.bg

Ownership

Name Direct holding Indirect holding Owner type Country
Alfa Capital AD 28.85 Company Bulgaria
Korekt Farm EOOD 10.98 Company Bulgaria
Yulinor EOOD 23.11 Company Bulgaria
Perfeto Consulting EOOD 16.43 Company Bulgaria
Others 20.63 Other

Subsidiaries and affiliates

Name Direct holding Indirect holding Country
Shumen Storage EOOD 100.0 Bulgaria
Office Estate EOOD 100.0 Bulgaria
Petrol Properties EOOD 100.0 Bulgaria
Petrol Finansi OOD 99.0 Bulgaria
Elit Petrol Lovech AD 99.99 Bulgaria
Svilengrad Oil EOOD 100.0 Bulgaria
Kremikovtsi Oil EOOD 100.0 Bulgaria
Varna 2130 EOOD 100.0 Bulgaria
Varna Storage EOOD 100.0 Bulgaria
Lozen Asset AD 99.99 Bulgaria
Petrol Technologies OOD 98.8 Bulgaria

Products and services

Petrol AD's portfolio includes a wide range of products, sold through its network of filling stations throughout Bulgaria:

  • automotive fuels – petrol, diesel fuel, liquefied natural gas (auto-gas) and compressed natural gas (methane gas);
  • different types of engine oil and lubricants, brake fluid, car care products and accessories.

In addition to its core business, the fuel chain also offers food and beverages in its petrol stations.

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