Petrol’s Supervisory Board Approved the business plan for 2020 which envisions sales to amount to EUR 6.4bn, EBITDA 214.8m and net profit EUR 109.8m.

Petrol has been at the centre of many scrutiny lately as the Supervisory Board terminated the mandated of the company’s Board due to the disagreement with their future investment and indebtedness projections.

However, last week the Supervisory Board approved the business plan for 2020. According to the plan, Petrol is envisaged to record EUR 6.4bn in sales. This represents a 14.3% increase when compared to the company’s guidance for FY 2019.

Petrol’s Sales (EUR m)

According to the report, the Petrol Group will achieve the results planned for 2020 by selling 3.4m tons of petroleum products, 199.6k tons of liquefied petroleum gas and 19.3 TWh of natural gas as well as through the sale of merchandise and related services totalling EUR 467.6m, through electricity production, trading and sales and through energy and environmental services.

The number of service stations is also expected to rise during 2020. According to the plan the number of service stations incorporated into the retail network will increase by 14, thus 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.

Petrol’s EBITDA (EUR m)

Petrol’s EBITDA in 2020 is planned at EUR 214.8m which represents a 15.2% increase when compared to the guidance for FY 2019. The report states that 51% of the projected EBITDA 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.

Petrol’s Net Profit (EUR m)

Finally, the bottom line is expected to amount to EUR 109.8m, 13.5% higher than the 2019 guidance.

Turning our attention to the balance sheet, the Management plans on keeping a relatively low amount of debt as the company’s net debt/EBITDA is projected at 1.7x.