You have 10 free articles left this month. Get your freeBasic subscription now and gain instant access to more.

Slovenia's Petrol targets cons net profit of 96.7 mln euro in 2019

Slovenia's Petrol targets cons net profit of 96.7 mln euro in 2019 Northfoto/

LJUBLJANA (Slovenia), December 14 (SeeNews) – Slovenian energy group Petrol [LJE:PETG] said on Friday it expects a consolidated net profit of 96.7 million euro ($109.9 million) next year.

The Petrol group's sales revenue is planned at 5.6 billion euro, whereas gross profit is seen at 475 million euro, Petrol said in a bourse filing, after adopting its 2019 business plan.

EBITDA is forecast at to186.4 million euro, 50% of which will be generated through sales of petroleum products, 20% through merchandise sales and related services, 13% through energy and environmental solutions, 9% through LPG sales, 5% through the sales of and trading in other energy products, and 3% through renewable electricity generation.

“The Petrol Group plans to invest 101 million euro in fixed assets in 2019, in line with its strategy,” Petrol said, adding that the group's investment policy will be focused on the consolidation of the sales position in Slovenia, the boosting of sales in SE Europe markets, and on the expansion of operations in the area of energy and environmental systems.

Particular attention will be given to the development of innovative business models.

The group said it will achieve the results planned for 2019 by selling 3.3 million tons of petroleum products, 193,300 tons of liquefied petroleum gas, 20.8 TWh of natural gas, through merchandise sales and related services of 609.1 million euro and through electricity production, trading and sales.

“At the end of 2019, the Petrol Group's retail network will consist of 515 service stations, of which 320 in Slovenia, 113 in Croatia, 40 in Bosnia and Herzegovina, 16 in Serbia, 15 in Montenegro and 11 in Kosovo,” the company noted, adding that the number of service stations to be incorporated into the retail network will increase by 18 as compared to the end of 2018.

Petrol said its net debt-to-equity ratio is planned to stand at 0.4 in 2019, with the net debt to EBITDA ratio amounting to 1.8. The financial leverage ratio is planned at 29%.

($ = 0.87973 euro)