In the first quarter of 2025, Petrol Group posted sales revenues of 1.5 billion euros, marking a 4% increase compared to the same period last year. The group’s EBITDA rose by nearly a third to 67 million euros, while net profit more than doubled to 31 million euros.
Petrol Group reported growth across all key performance indicators at the start of the year, aligning with its annual targets. However, business operations were clouded by uncertainties related to low fuel sales margins and rising geopolitical and environmental risks.
Fuel and derivatives sales totaled 912,000 tons, up 7% year-on-year, with sales volume surpassing expectations in all key markets. Revenues from goods and services reached 141 million euros, a 2% increase compared to Q1 2024. During the quarter, the group also sold 6.2 TWh of natural gas, 3 TWh of electricity, and 60,800 MWh of thermal energy. As of March, Petrol’s retail network included 593 petrol stations across Slovenia (316), Croatia (203), Bosnia and Herzegovina (42), Serbia (18), and Montenegro (14), alongside 587 electric vehicle charging stations.
Gross profit, including closed net commodity derivatives, amounted to 158.6 million euros, a 6% rise from the previous year. This growth was primarily influenced by the regulated pricing of certain oil derivatives.
Operating expenses increased by 2% to 131.8 million euros, driven mainly by higher labor costs resulting from wage indexation linked to regulatory changes in minimum wage systems in Slovenia and other markets.
Petrol invested 14 million euros during Q1 and has set ambitious targets for 2025, aiming for 6.1 billion euros in sales revenues, 789 million euros in gross profit, 339 million euros in EBITDA, and 177.8 million euros in net profit. The company warns that ongoing regulatory interventions in pricing could cause deviations from these goals.
Petrol criticizes the current regulation of oil derivative prices as unsustainable, arguing that it significantly limits the company’s ability to achieve strategic objectives, invest in energy transition projects, and meet European Green Deal requirements. The company urges the government to revise pricing regulations to better reflect operational cost trends and support renewable energy targets in transportation, in line with the National Energy and Climate Plan.
Petrol will hold its regular general assembly at the end of May, where shareholders will decide on the distribution of last year’s accumulated profit of 86.6 million euros. Management, with prior supervisory board approval, proposes distributing nearly the entire profit as dividends, with a gross dividend of 2.10 euros per share.
