Slovenia's Petrol to invest 130 mln euro in 2024

A total of 44% of the investments in 2024 will be spent on energy transition projects, Petrol said in its audited annual report for 2023.

"The group's investment policy for 2024 will be focused on expanding business in the area of renewable electricity production, digitalising its supply chain, modernising and prudently increasing the number of its service stations and on expanding its operations in the area of energy and environmental solutions," Petrol said.

In 2023, net investments in property, plant and equipment, intangible assets and long-term investments stood at 82.9 million euro, up 39%, while energy transition accounted for 31% of total.

In January, Petrol's supervisory board approved the business plan for 2024, targeting a net profit of 156.5 million euro on revenue of 5.8 billion billion euro.

Petrol turned to a net profit of 136.6 million euro in 2023 from a 2.7 million euro loss in the previous year.

($ = 0.93844 euro)