LJUBLJANA (Slovenia), December 13 (SeeNews) – Slovenian energy group Petrol [LJE:PETG] said on Friday it expects a net profit of 109.8 million euro ($122.3 million) next year, up from 96.7 million euro profit projected for this year.
The Petrol group's sales revenue is planned at 6.4 billion euro, whereas gross profit is seen at 510 million euro, Petrol said in a bourse filing, after adopting its 2020 business plan.
EBITDA is forecast at 214.8 million euro, 51% of which will be generated through petroleum product sales, 20% through merchandise sales and related services, 12% through energy and environmental solutions, 9% through LPG, 5% through the sales of and trading in other energy products, and 3% through renewable electricity production.
“The Group's investment policy for 2020 will be focused on accelerating the growth of business in the area of renewable electricity production, on consolidating its position and expanding sales and on expanding its operations in the area of energy and environmental solutions,” Petrol said.
The group said it will achieve the results planned for 2020 by selling 3.4 million tons of petroleum products, 199.6 thousand tons of liquefied petroleum gas and 19.3 TWh of natural gas as well as through the sale of merchandise and related services totalling 467.6 euro million, through electricity production, trading and sales and through energy and environmental services.
“At the end of 2020, the Petrol group's retail network will consist of 522 service stations, of which 319 in Slovenia, 115 in Croatia, 42 in Bosnia and Herzegovina, 20 in Serbia, 15 in Montenegro and 11 in Kosovo,” the company noted, adding that the number of service stations to be incorporated into the retail network will increase by 14 compared to the end of 2019.
Petrol said its net debt-to-equity ratio is planned to stand at 0.4 in 2020, with the net debt to EBITDA ratio amounting to 1.7. The financial leverage ratio is planned at 30%.
Petrol last traded on Ljubljana stock exchange on Thursday, adding 1.39% at 365.0 euro.
($ = 0.8979 euro)