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Slovenia's Petrol Group targets rise in net profit next year

Slovenia's Petrol Group targets rise in net profit next year Northfoto/Shutterstock.com

LJUBLJANA (Slovenia), December 15 (SeeNews) - Slovenian fuel retailer Petrol [LJE:PETG] said on Thursday it expects to post a consolidated net profit of 74.7 million euro ($75.5 million) next year.

The company targets a consolidated net profit of 68.8 million euro in 2016. In November, Petrol announced that its consolidated net profit rose 18% year-on-year to 57.2 million euro ($60.6 million) in the first nine months.

Consolidated sales revenue next year is planned at 3.6 billion euro, Petrol said in a filing to the Ljubljana bourse.

The Petrol Group will achieve the planned results by selling 2.7 million tons of petroleum products, 151.9 thousand tons of liquefied petroleum gas (LPG), 95.7 million m3 of natural gas, 12.4 TWh of electricity, and through merchandise sales of 524.7 million euro, it noted.

At the end of 2017, the Petrol Group's retail network will consist of 493 service stations, of which 317 in Slovenia, 105 in Croatia, 36 in Bosnia and Herzegovina, 13 in Serbia, 11 in Montenegro and 11 in Kosovo.

Petrol's consolidated EBITDA is planned at 150.9 million euro in 2017, 79% of which will be generated through petroleum product and merchandise sales, 12% through energy and environmental systems, 7% through LPG sales and 2% through selling and trading in other energy products.

Petrol plans to invest 63.2 million euro in fixed assets in 2017.

"The Group's investment policy will be focused on the expansion of operations in the area of energy and environmental systems, the expansion of sales in SE Europe markets and on the consolidation of Petrol's sales position in Slovenia", Petrol said. It added that particular attention will be given to the development of innovative business models and to digitisation.

($=0.954559 euro)

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