Ljubljana, 24th March, 2011 - At its 28th meeting held on 24th March 2011, the Supervisory Board of Petrol d.d., Ljubljana discussed the Petrol Group’s and Petrol d.d. Ljubljana’s results for 2010.

In 2010, the Petrol Group generated sales revenues of EUR 2.8 billion, up 20% from the previous year. Gross profit amounted to EUR 294.5 million, up 5% from 2009. Operating profit totalled EUR 61.9 million, up 22% from the previous year. Net profit amounted to EUR 35.5 million.

In 2010, Petrol d.d., Ljubljana generated sales revenues of EUR 2.4 billion, up 20% from the previous year. Gross profit amounted to EUR 222.2 million, up 2% from 2009. Operating profit totalled EUR 46.0 million. Net profit amounted to EUR 37.9 million.

The Petrol Group sold 2.35 million tonnes of oil products in 2010, up 5% from the previous year. Revenues from sales of other merchandise amounted to EUR 416.6 million, 9% above the figure achieved in 2009. At the end of 2010, the Group operated 441 service stations, of which 313 in Slovenia, 79 in Croatia, 38 in Bosnia and Herzegovina, 5 in Serbia, 3 in Montenegro, and 3 in Kosovo.

In 2010, the Petrol Group sold 104.2 million m3 of natural gas, 356,703 MWh of electricity and 47.8 thousand tonnes of liquefied petroleum gas. In 2010, the Petrol Group operated 29 gas supply concessions. At the end of 2010, its customers were supplied with liquefied petroleum gas through 2,185 gas storage tanks.

The Supervisory Board was also presented with the findings of the Audit Committee whose task was to check the management, economic viability and legal admissibility of transactions concluded between Petrol and SCT, and Petrol and Attorney Dušan Korošec. Based on the results of the audit, the Supervisory Board established that the Management Board of Petrol had entered into all these transactions acting within the scope of its powers, and therefore all these transactions were legal. The Supervisory Board further stated that in certain transactions some unintentional mistakes had occurred, mainly as a result of specific circumstances and non-optimal coordination and regulation of internal processes, particularly in the sphere of credit and/or legal risk management. Due to objective responsibility in connection with the discussed transactions, former Chairman of the Management Board, Aleksander Svetelšek, offered his resignation on 10th January 2011, which was accepted by the Supervisory Board. On the basis of the information and economic and legal analyses available at the moment, it is impossible to assess whether the company might suffer damage as a result of these transactions.

The Supervisory Board requires that the Management Board should immediately take proper measures with respect to the stated non-optimal processes of credit and legal risk management to improve the risk management system of the Group. The Supervisory Board supports all activities which the Management Board, chaired by the new Chairman, Tomaž Berločnik, has already started to carry out.