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Petrol's Q1 Profit Up by a Third

Ljubljana, 25 April (STA) - Energy group Petrol reported EUR 903m in estimated sales revenues for the first quarter of the year, a rise of 21% on the same period last year. Net profit is estimated to have risen by 32% to EUR 12.9m in the period.

EBITDA for the first three months of 2012 is estimated to have increased by 14% to EUR 33.4m compared with the same period in 2011, while gross profit is estimated at EUR 87m, up 11% year-on-year.

According to a press release from the company, oil products sales are estimated to have gone up by 9% y/y to 598,000 tonnes in the first quarter, while revenues from sales of merchandise were up 17% to EUR 129m.

At the end of March, the group operated 453 service stations, of which 313 in Slovenia, 86 in Croatia, 37 in Bosnia-Herzegovina, seven in Serbia, four in Kosovo and six in Montenegro.

Operating 30 gas supply concessions, Petrol sold an estimated 51 million cubic metres of natural gas in the first quarter of the year, up 3% y/y, and 17,000 tonnes of liquefied petroleum gas, up 29%.

Electricity sales were up 106% to 522,000 MWh, estimates for the first quarter show.