Petrol Publishes Business Plan for 2023

Today, Petrol published the business plan for the Grup for 2023. Overall, Petrol expects that the petroleum product price regulation and the conditions in energy markets will continue in 2023. Consequently, growth will slow down and inflationary pressures will be present. Petrol plans the sales revenues to amount to EUR 10.2bn, adjusted gross profit of EUR 675m, EBITDA to EUR 250.4 and net profit to EUR 117.1m.

Petrol expects for challenging environment to continue, particularly related to the situation in the energy markets. Group expects economic growth to slow down, while also for petroleum product price regulation and inflationary pressure to continue in 2023. Further, Petrol emphasizes that its operations will be under the impact of many factors like uncertain geopolitical and economic situations and changes in the USD exchange rate. Nevertheless, Group’s plan remains optimistic on the back of the Group’s cost optimization. Petrol plans for its operations to remain stable in 2023 and that the company’s net profit will be positive.

Based on economic forecasts, Petrol expects that the sales of petroleum product volumes will increase in 2023 compared to the plan from 2022. The Group should maintain its market share in electricity and natural gas sales in Slovenia. Further, it will actively increase its energy independence. Also, the company will continue its focus on cost efficiency.

Also, the company emphasized the main risks in 2023. Besides supply chain disruption, the company noted that potential risk is an intensification of petroleum products purchase conditions, even stricter regulation of the selling prices of energy commodities and overall uncertainty in sales to EU markets which are extremely volatile at the moment.

Overall, the Group expects to generate sales revenue of EUR 10.2bn in 2023. The Petrol plans to achieve mentioned sales revenue by selling 4.0m tons of fuels and petroleum products, 11.6 TWh of natural gas, 12.9m TWh of electricity (both trading and sales to end customers), 154.6 thousand MWh of heat and by producing 188.4 thousand MWh of electricity. Consequently, Petrol plans its EBITDA to amount to EUR 250.4m and its net profit of EUR 117.1m in 2023.

Further, Petrol’s investment policy in 2023 will be focused on business expansion in the field of renewable electricity generation, supply chain digitalization and the expansion of operations in the field of energy and environmental solutions. The company estimates EUR 75m for investments in 2023, which represents 55% of planned investment in the strategic plan.

Category : Flash News

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