January 27 (SeeNews) - Slovenian energy group Petrol [LJE:PETG] targets a net profit of 117.1 million euro ($127.5 million) in 2023, it said.
Petrol aims to achieve sales revenue of 10.2 billion euro in 2023 through the sale of 4.0 million tons of fuels and derivatives, 11.6 TWh of natural gas, 12.9 TWh of electricity, and 154,600 MWh of heat, the company said in a filing with the Ljubljana Stock Exchange on Thursday.
The earnings before interest, tax, depreciation and amortisation (EBITDA) are estimated to amount to 250.4 million euro in 2023, Petrol said.
"Petrol Group's operations will be significantly affected by the regulation of the selling prices of energy products, the tightening of purchasing conditions and inflation, which we will follow by adjusting business processes and optimising costs. In addition, operations will be affected by many factors of the international and domestic environment: uncertain geopolitical and economic conditions, the state of the global oil and energy market, and the movement of the US dollar exchange rate," CEO Nada Drobne Popovic said.
Petrol will allocate 75.0 million euro for investments in 2023, one third of which will go to energy transition projects, the company noted.
Earlier this month, Petrol said it estimates that it swung to a net loss of 12.1 million euro last year, compared to a net profit of 158.3 million euro recorded in 2021, while sales revenue amounted to 5.9 billion euro.
($ = 0.9183 euro)
Petrol d.d. is among the biggest companies in SEE, for more reference take a look at Top 100 companies