March 7 (SeeNews) - Slovenian fuel retailer Petrol [LJE:PETG] said on Wednesday its consolidated net profit increased 12% in 2017, reaching 81.1 million euro ($100.7 million).
Consolidated sales revenue rose 17% to 4.5 billion euro in 2017, Petrol said in a bourse filing.
EBITDA totalled 159.6 million euro, a 11% increase compared to 2016.
In 2017, the Petrol Group sold 3.4 million t of petroleum products, up 5% on the year. Its sales of natural gas decreased 5% to 1.3 TWh, while sales of liquefied petroleum gas rose 7% to 151.0 thousand tonnes. Petrol also sold 21.0 TWh of electricity, up 19%, and 140.8 thousand MWh of heatin energy.
Merchandise sales constitute an important part of Petrol’s operations and generated 538.3 million euro in sales revenue in 2017, an increase of 7% compared to 2016.
In 2017, net investments in property, plant and equipment, intangible assets and long-term investments totalled 71.9 million euro. The bulk of the investment budget was allocated to the expansion of energy and environmental systems both in Slovenia and in Southeast Europe. Petrol also invested in the expansion of its sales operations in Southeast Europe as well as in the expansion and consolidation of its sales position in Slovenia.
At the end of December, the Petrol Group operated 495 service stations - of which 317 in Slovenia, 106 in Croatia, 38 in Bosnia and Herzegovina, 12 in Serbia, 11 in Montenegro and 11 in Kosovo.
Petrol targets a net profit of 86.9 million euro and net sales revenue of 4.5 billion euro in 2018.
($=0.8055 euro)