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SAR-24/16

PETROL, d.d., Ljubljana

Supervisory Board Discussed Report on Petrol Group's and Petrol d.d., Ljubljana's Results for the First Six Months of 2016

The information contained in this announcement will remain posted on the website of Petrol d.d., Ljubljana (www.petrol.si) at least 5 years from the date it is published.

Ljubljana, 25th August, 2016 - The Report on the Petrol Group’s and Petrol d.d., Ljubljana’s Results for the First Six Months of 2016 was presented to the Supervisory Board of Petrol d.d., Ljubljana at its 31st meeting held today.

In the first six months of 2016, the Petrol Group generated gross profit of EUR 174.1 million, a 5 % increase on the same period of 2015. EBITDA totalled EUR 65.8 million, a 6 % increase compared to the same period of 2015. The Petrol Group’s net profit amounted to EUR 32.0 million, up 27 % from the same period of 2015.

54 % of the Petrol Group’s EBITDA derived from its oil trading activities in Slovenia. Sales prices of oil products in Slovenia, mostly higher compared to the neighbouring countries due to high excise duties and other taxes, had negative impact on the Slovenian oil trade. In spite of harsh economic conditions, the Petrol Group achieved good business results in oil trading on the SE European markets, where 22 % of its EBITDA was generated. Good business results were also achieved in energy trading which is becoming an increasingly important part of the Petrol Group’s operations, accounting for 20 % of its EBITDA. 4 % of the Petrol Group’s EBITDA derived from its oil trading activities on the EU markets.

In the first six months of 2016, the Petrol Group sold 1.5 million tonnes of oil products, which is 14 % more than in the first six months of 2015.  The Petrol Group sold 66.3 million m3 of natural gas, down 3 % from the same period of the previous year, and 69.2 thousand tonnes of liquefied petroleum gas, up 86 % from the same period of 2015. The Petrol Group also sold 7.6 TWh of electricity, which is 18 % more than in the first six months of 2015, and 75.9 thousand MWh of heat, an increase of 4 % on the figure for the first six months of 2015. Revenues from sales of merchandise in the first six months of 2016 amounted to EUR 245.4 million, up 3 % from the figure achieved in the same period of 2015. At the end of June 2016, the Petrol Group operated 484 service stations, of which 314 in Slovenia, 105 in Croatia, 36 in Bosnia and Herzegovina, 9 in Serbia, 9 in Montenegro and 11 in Kosovo.

The Petrol Group will continue with its active sales policy, optimisation of all business processes and efficient risk management. The achieved results show that the Group is successful in pursuing its goals.

Tomaž Kuntarič
President of the Supervisory Board

Tomaž Berločnik
President of the Management Board
Date: 26.08.2016