Petrol’s net profit more than doubles as sales up 20%

Ljubljana – Energy company Petrol saw group net profit jump by 140% to more than EUR 49 million on sales that increased 20% year-on-year to EUR 1.8 billion, according to the company’s interim report released on Friday.

Profit before income tax, depreciation and amortisation (EBITDA) increased by 59% compared to the same period of 2020 to EUR 102.1 million, and adjusted gross profit stood at EUR 258.1 million, an increase of 44%.

Petrol sold 1.3 million tons of petroleum products at group level, down 13% compared to the first half of 2020, which the company says is largely the result of a changed import regime in Italy.

Sales of liquefied petroleum gas dropped by 13%, electricity sales were down 32% whereas whereas natural gas sales were up 58%.

Revenue from the sale of merchandise totalled EUR 242.1 million, an increase of 6% compared to the same period of 2020.

The company plans end-year EBITDA of EUR 213.5 million, an all-time high, according to CEO Nada Drobne Popovič. “The operating results achieved in the first half of 2021 show us that we are on a good way to achieving this goal,” she was quoted as saying.

She said the company was responding to the opportunities delivered by the energy transition and more than 70% of investments were earmarked for energy transition projects in the first six months of the year.

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