Ljubljana, 11 December 2025 – At its 10th meeting, the Supervisory Board of Petrol d.d., Ljubljana approved the Petrol Group’s business plan for 2026 and strategy for 2026–2030. The business plan reflects the Petrol Group’s dedication to maintaining operational stability amid ongoing uncertainties in energy markets while accelerating the transition towards sustainable energy solutions. As set in its strategy for 2026–2030, the Petrol Group will fast-track the development of sustainable energy services, strengthen its presence in key markets, and enhance operational efficiency.

In an environment shaped by fuel price regulation in Slovenia, geopolitical tensions, and rising labour costs, the Petrol Group will maintain business stability, strengthen its position in domestic and regional markets, and create higher added value by focusing on key segment growth in 2026. The business plan is based on responsible energy risk management and a clear focus on projects that accelerate the transition to cleaner energy solutions.

Following the approval of the business plan, Sašo Berger, President of the Management Board of Petrol d.d., Ljubljana, emphasised: “In 2026, we will continue investing in energy transition and digitalisation while ensuring stability in our key activities. As we enter the new business year, we are taking deliberate steps to strengthen resilience and focusing on projects that deliver long-term value and enhance customer experience. Petrol’s new strategy for 2026–2030 sets a clear course for Petrol’s transformation into a multi-energy company. In 2030, we target to achieve net profit of EUR 300 million. I am confident that we are well-prepared for challenges brought by the fast-changing environment and that we will continue to build solid foundations for sustainable growth in the years ahead.”

According to Vesna Južna, President of the Supervisory Board of Petrol d.d., Ljubljana, “our business remains strong and our development trajectory clear even under pressures of the regulatory environment in Slovenia. The Supervisory Board supports the goals determined in the business plan for 2026 and the new strategy of the Petrol Group for the 2026–2030 period, which plans to generate EBITDA of more than EUR 500 million in 2030 and earmark EUR 750 million for investments. Net debt/EBITDA will not exceed 1. We remain committed to enhancing productivity.”

Business environment and challenges

In Slovenia, which remains the Petrol Group’s largest market, consumption is slowing, wage and labour cost growth remains high, inflation persists above the long-term average, and regulatory restrictions continue to remain a challenge. In Croatia, growth is stable, though slightly slower than previous forecasts, while in Serbia, uncertainty is rising due to political developments and shifts in the energy sector; however, this is also creating new sales opportunities. In such an environment, Petrol will continue to focus on cost efficiency and business model flexibility.

Energy markets remain influenced by geopolitical instability, driving fluctuations in energy prices. Oil prices are affected by changes in OPEC+ production, while electricity and natural gas prices vary depending on weather conditions and the renewable energy production dynamic.

Key highlights from the business plan for 2026

Sales revenue: EUR 5.7 billion

Gross profit: EUR 792.3 million

EBITDA: EUR 350.2 million

Net profit: EUR 191.7 million

Net Capex: EUR 150 million

Net debt/EBITDA: 1.1

The Petrol Group will achieve the results planned for 2026 by selling:

• 4.2 million tonnes of fuels and petroleum products,
• merchandise and services in the amount of EUR 670.4 million,
• 9.6 TWh of natural gas (B2C sales, excl. trading),
• 3.4 TWh of electricity (B2C sales, excl. trading).

Net Capex will amount to EUR 150 million, of which a large part will be earmarked for energy transition and digitalisation projects.

Strategic focus in 2026

Stability of energy sources, combined with the energy transition, remains a central pillar of long-term growth. In 2026, the Petrol Group will accelerate projects that reduce dependence on traditional fuels and strengthen the offering of sustainable solutions. Developing renewable energy production remains a key priority, which, together with battery energy storage systems, is creating new possibilities for energy flow balancing and grid support.

A significant part of planned investments remains focused on digitalisation and energy transition projects. With new technologies, we improve system reliability and offer customers more transparent and simpler services. Our goal is to keep our leading position in fuel sales while expanding the range of sustainable solutions that deliver long-term added value.

We will continue modernising our retail network, combining convenience, sustainability, and digital experience to further improve customer experience.

Supervisory Board’s opinion

The Supervisory Board supports the Petrol Group’s business plan for 2026 because it is based on a clear strategy of transitioning to sustainable energy and further enhancing financial stability. According to the Supervisory Board, the planned measures ensure long-term resilience of the Petrol Group and contribute to creating value for shareholders. Through continued investments in renewable energy production, business digitalisation, and projects that enhance customer experience, the Petrol Group will further consolidate its leading position in Slovenia and SEE markets.

Arbitral award in favour of Petrol Geoplin

An International Chamber of Commerce (ICC) arbitral tribunal found that in June–December 2022, Gazprom Export LLC breached its contractual obligations towards Geoplin d.o.o. Ljubljana under a long-term agreement concerning the delivery of natural gas. The tribunal ordered Gazprom Export LLC to pay Geoplin d.o.o. Ljubljana damages in the amount of EUR 185.2 million (plus interest and cost of arbitration), but the enforcement of award is still uncertain. 

Zoran Gračner is reappointed as a member of the Management Board – Worker Director

At its 8th meeting held on 9 October 2025, the Supervisory Board reappointed Zoran Gračner as a Member of the Management Board – Worker Director of Petrol d.d., Ljubljana for a new five-year term of office as proposed by the Workers’ Council. His new term of office started on 11 December 2025. In accordance with the provisions of the Articles of Association, one Member of the Management Board is always the Worker Director who participates in decisions regarding the development of HR and social policies and represents the company together with another Member or President of the Management Board.