Slovenian energy company Petrol, said
on Friday its consolidated net profit rose 3% on the year to 13.3 million euro
($15.2 million) in the first quarter of 2015.
Consolidated sales fell 4%
on the year to883.5 million euro through March, Petrol said in a bourse
filing.
"Sales prices of oil products in Slovenia, which are mostly
higher compared to the neighbouring countries, have had negative impact on the
Slovenian oil trade. Croatia - the second largest sales market for Petrol’s
products and services – is still facing economic recession, reflected in a
decline in business activity, poor payment discipline, insolvency and
bankruptcies, a decline in private consumption and increased unemployment,"
Petrol said.
Petrol said net sales revenue from oil and merchandise sales
in Slovenia totaled 480.6 million euro through March, down 12% on the year. In
the first three months of 2015, the company sold 350,800 t of petroleum products
in Slovenia, a year-on-year decrease of 6%.
Petrol Group sold184,600 t
of petroleum products in Southeast Europe (SEE) in the first quarter of 2015, a
year-on-year increase of 23%. First-quarter net sales revenue from oil and
merchandise sales in SEE markets stood at170.5 million euro, up 1% on the
year.
In the first quarter of 2015, Petrol Group sold643,100 t of oil
products, 3% more than a year earlier. The Group sold52.2 million cu m of
natural gas through March and 19,100 t of liquefied petroleum gas. The group's
electricity sales totaled3.2 TWh in the first quarter.
Petrol targets a
consolidated net profit of 64.3 million euro on revenues of 3.8 billion euro in
2015.
At the end of March, the Petrol Group operated 481 service stations
- up from479 at the end of 2014, including 315 in Slovenia, 102 in Croatia, 39
in Bosnia and Herzegovina, eight in Serbia, nine in Kosovo and in eight in
Montenegro. The Slovenian group plans to expand its retail network to 528 units
in 2019.