Ljubljana, 20 November 2025 – At its 9th meeting, the Supervisory Board of Petrol d.d., Ljubljana discussed the Report on the Operations of the Petrol Group and Petrol d.d., Ljubljana, in January–September 2025. The Petrol Group’s results in the first nine months of 2025 are better than those in the same period in 2024.

President of the Management Board of Petrol d.d., Ljubljana, Sašo Berger, highlighted:
“In the first nine months of this year, we recorded an increase in key performance indicators compared to the same period last year, but the operations are still strongly influenced by the fuel price regulation in Slovenia and uncertainty in the energy markets, which limits our development and investment potential that is vital in order to continue implementing the energy transition and digital transformation. To this end, the Management Board will continue to focus on ensuring stable supply to customers, as well as on cost discipline, increasing presence on foreign markets and developing new, advanced services for our users.”

A challenging energy environment and a strong influence of regulatory measures

In the first nine months of 2025, the Petrol Group’s business results were still under a strong influence of the regulatory interventions in the price policy in the field of petroleum product sales. In mid-June, the fuel price regulation in Slovenia was extended to motorway service stations, which placed an additional strain on the operations in the petroleum product sales segment. The Government’s draft Decree determining the prices of certain petroleum products, which is currently under public consultation, still fails to ensure economic viability, legal compliance, and operational sustainability of the regulatory framework.

Sales growth in key markets and changed purchasing patterns

Despite the challenging situation, the Petrol Group maintained the upward trend in sales volumes in all key segments in the first nine months of 2025. The Petrol Group sold 3.01 million tons of fuels and petroleum products, a year-on-year increase of 4 percent. Sales of merchandise and services amounted to EUR 506 million, a year-on-year increase of five percent. In the period concerned, the Petrol Group also sold 15.5 TWh of natural gas, 8.9 TWh of electricity, and 78.2 thousand MWh of heat.

Strongest growth was recorded in SEE markets where fuel prices are lower than in Slovenia because of different excise duty policies. As a result, transit customers still shift from Slovenian service stations to those in Croatia where fuel prices are lower despite the liberalised market, which has significantly contributed to sales growth in foreign markets. In Slovenia, fuel and petroleum product sales were slightly lower compared to the same period last year, which was successfully offset by higher sales of heating oil, aviation fuel, and bitumen.

Stable financial position alongside an efficient cost management

In the first nine months of 2025, the Petrol Group generated EUR 4.5 million in revenue from contracts with customers, which is consistent with the same period last year. Gross profit with closed net commodity derivatives was EUR 543.3 million, a year-on-year decrease of two percent. EBITDA amounted to EUR 244.8 million, up by EUR 1.6 million compared to the same period last year. Disciplined cost management and a positive financial result supported growth in net profit which amounted to EUR 135.8 million in the first nine months of this year, an increase of ten percent compared to the same period last year.

Operating costs amounted to EUR 392.6 million in the first nine months of 2025, a year-on-year increase of EUR 0.8 million. Operating costs to gros profit ratio with closed commodity derivatives was 72.3 percent, reflecting a favourable trend in the long term.

President of the Supervisory Board of Petrol d.d., Ljubljana, Vesna Južna, pointed out:
“In the first nine months of the year, the Management Board successfully navigated the challenging situation on energy markets and in the regulatory environment. Nevertheless, certain structural limitations are still present and significantly impact the Group’s operations.  Slovenia still has the lowest retail fuel margin in the European Union, while the regulated formula for determining petroleum product prices does not cover all procurement costs, particularly the cost of mandatory biocomponent blending. This issue has not been addressed in the new draft Decree. Therefore, the Supervisory Board emphasises the importance of holding a dialogue about solutions which will ensure stable supply, financial sustainability and continued development of energy investments.”

Progress in investments in green energy, mobility, and digital services

In the year marking its 80th anniversary, the Petrol Group continued investing in the energy transition, digitalisation, and the development of mobility services. In partnership with Visa, the Petrol Group has introduced a new loyalty payment card—Petrol Pay Loyalty—which combines the benefits of a loyalty card and an international Visa payment card, enabling fast and secure contactless payments both domestically and abroad and simplifies payments for EV charging across Petrol’s charging network.

In e-mobility, the Petrol Group focused on developing the charging infrastructure and new charging services. In the first nine months of 2025, the Petrol Group transmitted 6 GWh of electricity for vehicle charging, which is almost 40 percent more than in the same period last year. In this time, Petrol has recorded more than 3,400 new e-mobility users and expanded the charging infrastructure network with 41 company-owned and 53 operated charging stations. At the end of September 2025, Petrol operated 659 charging stations or more than 1,150 charging points in the region.

Supervisory Board’s view on the Group’s continued development cycle

The Supervisory Board considers that the Management Board of the Petrol Group responsibly managed risks and costs and continued the key development projects related to the green transition, digitalisation, and retail network modernisation in the first nine months of 2025. The Supervisory Board expects the Management Board to continue ensuring stable operations, efficient investment management and an active dialogue with regulators and regulation decision-makers in the future, enabling stable and long-term sustainable operations of the Petrol Group.