June 19 (SeeNews) - Slovenian energy group Petrol [LJE:PETG] said on Tuesday it expects its consolidated net profit to reach 116 million euro by 2022, up 33% compared to the 2018 plan.
Consolidated sales revenue will exceed 5 billion euro by 2022, up 17% relative to the 2018 plan, while EBITDA is expected to jump 37% compared to this year's forecast to 233 million euro, Petrol said in a Ljubljana bourse filing, after adopting its strategy for the period 2018 – 2022.
The group's strategy is a fundamental corporate document defining the business outlook of the Petrol Group in the period 2018 – 2022 based on its mission, vision, values, goals and strategies. The strategy envisions investments in fixed assets of 521 million euro in the period 2018 – 2022, which is an important basis for efficient growth, development and business performance of the group over the long term, Petrol said.
"Ensuring business growth and increasing the profitability of operations while maintaining the commitment to sustainable development are the main principles underpinning the drawing up and implementation of the strategic plan," the company noted.
The volume of petroleum products sold is expected to amount to 3.34 million tons, up 10% relative to the 2018 plan.
The number of Petrol service stations in the region is expected to rise to 548 at the end of 2022, up 50 compared to the figure expected at the end of 2018. Service stations are forecast to increase from 13 to 30 in Serbia, from 319 to 327 in Slovenia, from 106 to 121 in Croatia, from 11 to 17 in Montenegro, from 38 to 42 in Bosnia, while remaining unchanged at 11 in Kosovo.