Certificate for its activities relating to storage, logistics and retail network of service stations in Slovenia and granted the right to use the initiative's logo.
Events after the reporting date ............................................................................... 312
11.Financial statements of Petrol d.d., Ljubljana by activity in accordance with the
Services of General Economic Interest Act and the Energy Act ...................................... 313
Annual Report of the Petrol Group and Petrol d.d., Ljubljana 2021 – Financial Report 176
STATEMENT OF MANAGEMENT’S RESPONSIBILITY
The Company's management is responsible for the preparation of the financial statements,
together with accounting policies and notes, of the Petrol Group and the company Petrol d.d.,
Ljubljana for the year 2021, which give, to the best of its knowledge and belief, a fair view of
the development and results of the Company’s operations and its financial position, including
the description of material risks that the Company and any other companies included in the
consolidated financial statements are exposed to as a whole.
The management confirms that appropriate accounting policies have been applied consistently
in the preparation of the financial statements, that accounting estimates were prepared based
on the principles of fair value, prudence and sound management and that the financial
statements give a true and fair view of the Group's and the Company's financial position and
the results of their operations in the year 2021.
The management is also responsible for appropriate accounting and for taking adequate
measures to protect the Company's property and other assets, and confirms that the financial
statements, together with the notes thereto, have been prepared on the going concern
assumption and in accordance with applicable legislation and International Financial Reporting
Standards as adopted by the European Union.
The Company's management accepts and approves the financial statements, together with
accounting policies and notes, of the Petrol Group and the company Petrol d.d., Ljubljana for
the year 2021.
The tax authorities may inspect the Company's operations at any time within the period of five
years following the year in which the tax was due. This may result in additional tax liabilities,
interest on late payment and penalties arising from the corporate income tax and other taxes
and duties. The Company's management is not aware of any circumstances, which may give
rise to any material liabilities in this regard.
Nada Drobne Popović Matija Bitenc
President of the Management Board Member of the Management Board
Jože Bajuk Jože Smolič
Member of the Management Board Member of the Management Board
Zoran Gračner
Member of the Management Board, Worker Director
Petrol d.d., Ljubljana, Dunajska cesta 50, 1527 Ljubljana, Slovenia
Ljubljana, 10 March 2022
Annual Report of the Petrol Group and Petrol d.d., Ljubljana 2021 – Financial Report 177
Annual Report of the Petrol Group and Petrol d.d., Ljubljana 2021 – Financial Report 178
Annual Report of the Petrol Group and Petrol d.d., Ljubljana 2021 – Financial Report 179
Annual Report of the Petrol Group and Petrol d.d., Ljubljana 2021 – Financial Report 180
Annual Report of the Petrol Group and Petrol d.d., Ljubljana 2021 – Financial Report 181
Annual Report of the Petrol Group and Petrol d.d., Ljubljana 2021 – Financial Report 182
Annual Report of the Petrol Group and Petrol d.d., Ljubljana 2021 – Financial Report 183
Annual Report of the Petrol Group and Petrol d.d., Ljubljana 2021 – Financial Report 184
Financial statements of the Petrol Group and Petrol d.d., Ljubljana
Statement of profit or loss of the Petrol Group and Petrol d.d., Ljubljana
Accounting policies and notes are an integral part of these financial statements and should be read in conjunction
with them.
(in EUR)
Note
2021
2020
2021
2020
Sales revenue
6.3
4,960,125,965
3,079,432,607
3,557,019,790
2,338,624,128
Cost of goods sold
(4,416,701,515)
(2,652,558,643)
(3,196,529,739)
(2,058,105,400)
Costs of materials
6.4
(29,296,024)
(27,934,256)
(23,818,764)
(23,786,116)
Costs of services
6.5
(147,697,919)
(133,344,297)
(114,204,989)
(110,403,782)
Labour costs
6.6
(114,341,509)
(102,856,574)
(78,318,991)
(74,674,139)
Depreciation and amortisation
6.7
(79,091,758)
(74,994,167)
(46,696,671)
(47,201,227)
Other costs
6.8
(54,698,358)
(26,938,726)
(35,663,349)
(16,692,191)
Operating costs
(425,125,568)
(366,068,020)
(298,702,764)
(272,757,455)
Other income
6.3
277,348,633
105,786,186
274,789,421
103,907,580
Other expenses
6.9
(236,604,627)
(74,961,521)
(236,292,875)
(76,308,909)
Operating profit or loss
159,042,888
91,630,609
100,283,833
35,359,944
Share of profit or loss of equity accounted investees
6.102,583,7713,508,790--
Finance income from dividends paid by subsidiaries,
associates and jointly controlled entities
6.10--3,287,0543,600,678
Other finance income
6.11
32,172,838
26,906,375
23,508,629
22,700,432
Other finance expenses
6.11
(42,351,470)
(36,580,690)
(43,682,173)
(29,991,565)
Net finance expense
(10,178,632)
(9,674,315)
(20,173,544)
(7,291,133)
Profit before tax
151,448,027
85,465,084
83,397,343
31,669,489
Tax expense
6.12
(30,683,697)
(14,373,778)
(18,781,868)
(2,843,435)
Deferred tax
6.12
3,717,031
1,238,736
1,867,467
67,462
Corporate income tax
(26,966,666)
(13,135,042)
(16,914,401)
(2,775,973)
Net profit for the year
124,481,361
72,330,042
66,482,942
28,893,516
Net profit for the year attributable to:
Owners of the controlling company
119,079,575
68,951,312
66,482,942
28,893,516
Non-controlling interest
5,401,786
3,378,730
-
-
Basic and diluted earnings per share
6.13
60.56
35.19
32.25
14.02
The Petrol Group
Petrol d.d.
Annual Report of the Petrol Group and Petrol d.d., Ljubljana 2021 – Financial Report 185
Other comprehensive income of the Petrol Group and Petrol d.d., Ljubljana
Accounting policies and notes are an integral part of these financial statements and should be read in conjunction
with them.
(in EUR)
Note
2021
2020
2021
2020
Net profit for the year
124,481,361
72,330,042
66,482,942
28,893,516
Effective portion of changes in the fair value of cash flow
variability hedging
6.144,109,730(128,073)3,283,988124,723
Change in deferred taxes
(772,591)
21,805
(623,957)
(23,698)
Change in the fair value of financial assets through other
comprehensive income
(61,866)---
Change in deferred taxes
11,756
-
-
-
Foreign exchange differences
496,086
(3,102,776)
-
-
Other comprehensive income to be recognised in the
statement of profit or loss in the future
3,783,115(3,209,044)2,660,031101,025
Attribution of changes in the equity of subsidiaries
-
-
-
-
Change in deferred taxes
-
-
-
-
Attribution of changes in the equity of associates
-
-
-
-
Change in deferred taxes
-
-
-
-
Total other comprehensive income to be recognised in
the statement of profit or loss in the future
3,783,115(3,209,044)2,660,031101,025
Unrealised actuarial gains and losses
(5,406)
141,101
12,995
306,530
Other comprehensive income not to be recognised in
the statement of profit or loss in the future
(5,406)141,10112,995306,530
Attribution of changes in the equity of subsidiaries
-
-
-
-
Attribution of changes in the equity of associates
-
-
-
-
Total other comprehensive income not to be
recognised in the statement of profit or loss in the
future
(5,406)141,10112,995306,530
Total other comprehensive income after tax
3,777,709
(3,067,943)
2,673,026
407,555
Total comprehensive income for the year
128,259,07069,262,09969,155,96829,301,071
Total comprehensive income attributable to:
Owners of the controlling company
122,872,937
65,854,194
69,155,968
29,301,071
Non-controlling interest
5,386,133
3,407,905
-
-
The Petrol Group
Petrol d.d.
Annual Report of the Petrol Group and Petrol d.d., Ljubljana 2021 – Financial Report 186
Statement of financial position of the Petrol Group and Petrol d.d., Ljubljana
Accounting policies and notes are an integral part of these financial statements and should be read in conjunction
with them.
(in EUR)
Note
31 December
2021
31 December
2020
Adjusted
31 December
2021
31 December
2020
ASSETS
Non-current (long-term) assets
Intangible assets
6.15
345,329,895
194,646,631
155,524,818
161,533,797
Right-of-use assets
6.16
102,621,512
62,401,606
27,874,823
30,716,648
Property, plant and equipment
6.17
767,704,711
710,207,621
366,262,157
379,425,104
Investment property
6.18
16,139,743
17,522,012
12,335,994
13,551,882
Investments in subsidiaries
6.19
-
-
553,970,331
351,013,627
Investments in jointly controlled entities
6.20
704,501
562,016
210,000
233,000
Investments in associates
6.21
55,169,626
55,953,391
26,610,477
29,185,477
Financial assets at fair value through other comprehensive
income
6.224,133,0444,528,9872,117,9142,117,914
Financial receivables
6.23
991,831
2,680,471
83,299,185
58,124,422
Operating receivables
6.24
8,228,771
10,565,315
8,219,107
10,542,414
Deferred tax assets
6.12
11,379,674
9,906,032
8,155,514
6,912,005
1,312,403,308
1,068,974,082
1,244,580,320
1,043,356,290
Current assets
Inventories
6.25
178,191,288
140,154,195
96,573,239
87,530,630
Contract assets
6.28
3,338,893
1,949,652
7,604,649
3,276,761
Financial receivables
6.26
16,168,692
32,634,090
16,181,049
22,247,726
Operating receivables
6.27
650,343,180
366,441,439
385,829,891
237,718,876
Corporate income tax assets
6.12
616,729
3,426,549
-
6,317,590
Financial assets at fair value through profit or loss6.2934,666,89111,107,88834,561,54411,053,141
Financial assets at fair value through other comprehensive
income
6.221,776,801209,0941,100,446209,094
Prepayments and other assets
6.30
85,718,759
78,506,510
50,728,784
27,371,876
Cash and cash equivalents
6.31
100,226,890
88,674,952
57,567,397
44,670,525
1,071,048,123
723,104,369
650,146,999
440,396,219
Total assets
2,383,451,431
1,792,078,451
1,894,727,319
1,483,752,509
EQUITY AND LIABILITIES
Equity attributable to owners of the controlling company
Called-up capital
52,240,977
52,240,977
52,240,977
52,240,977
Capital surplus
80,991,385
80,991,385
80,991,385
80,991,385
Legal reserves
61,987,955
61,987,955
61,749,884
61,749,884
Reserves for own shares
4,708,359
4,708,359
4,708,359
4,708,359
Own shares
(4,708,359)
(4,708,359)
(2,604,670)
(2,604,670)
Other revenue reserves
318,523,082
316,057,569
340,914,615
338,449,102
Fair value reserve
(789,611)
(753,447)
39,809,449
39,796,454
Hedging reserve
(858,584)
(4,195,723)
(1,136,850)
(3,796,881)
Foreign exchange differences
(8,634,420)
(9,126,807)
-
-
Retained earnings
362,184,854
290,793,508
33,241,471
14,446,758
865,645,638
787,995,417
609,914,620
585,981,368
Non-controlling interest
43,052,367
38,674,020
-
-
Total equity
6.32
908,698,005
826,669,437
609,914,620
585,981,368
Non-current liabilities
Provisions for employee post-employment and other long-term
benefits
6.339,516,0919,438,9777,969,8098,293,721
Other provisions
6.34
34,323,479
31,347,421
17,606,490
14,763,837
Long-term deferred revenue
6.35
34,447,444
33,412,476
29,459,071
28,419,773
Financial liabilities
6.36
433,812,995
303,431,060
404,555,761
282,866,603
Lease liabilities
6.37
92,991,633
54,397,111
26,735,533
27,608,922
Operating liabilities
6.38
5,661,782
727,182
5,661,782
727,182
Deferred tax liabilities
6.12
1,583,658
3,985,700
-
-
612,337,082
436,739,927
491,988,446
362,680,038
Current liabilities
Financial liabilities
6.36
65,958,447
48,766,555
272,485,762
160,688,732
Lease liabilities
6.37
13,768,130
10,069,352
2,717,596
4,259,323
Operating liabilities
6.39
690,456,613
437,216,148
442,507,932
348,832,832
Corporate income tax liabilities
6.12
18,786,511
1,966,916
16,353,199
-
Contract liabilities
6.40
14,828,344
14,927,846
7,905,838
8,830,761
Other liabilities
6.41
58,618,299
15,722,270
50,853,926
12,479,455
862,416,344
528,669,087
792,824,253
535,091,103
Total liabilities
1,474,753,426
965,409,014
1,284,812,699
897,771,141
Total equity and liabilities
2,383,451,431
1,792,078,451
1,894,727,319
1,483,752,509
The Petrol Group
Petrol d.d.
Annual Report of the Petrol Group and Petrol d.d., Ljubljana 2021 – Financial Report 187
Statement of changes in equity of the Petrol Group
Accounting policies and notes are an integral part of these financial statements and should be read in conjunction with them.
Legal reserves
Reserves for
own sharesOwn shares
Other revenue
reserves
As at 1 January 2020
52,240,977
80,991,385
61,987,955
4,708,359
(4,708,359)
314,675,779
(894,548)
(4,089,455)
(5,994,856)
271,904,940
770,822,177
40,430,080
811,252,257
Dividend payments for 2019
(15,098,102)
(30,124,614)
(45,222,716)
(45,222,716)
Transfer of a portion of 2019 and 2020 net profit
19,938,130
(19,938,130)
-
-
Increase/(decrease) in non-controlling interest
(3,458,238)
(3,458,238)
(5,163,965)
(8,622,203)
Transactions with owners
-
-
-
-
-
1,381,790
-
-
-
(50,062,744)
(48,680,954)
(5,163,965)
(53,844,919)
Net profit for the current year
68,951,312
68,951,312
3,378,730
72,330,042
Other changes in other comprehensive income
141,101
(106,268)
(3,131,951)
(3,097,118)
29,175
(3,067,943)
Total changes in total comprehensive income
-
-
-
-
-
-
141,101
(106,268)
(3,131,951)
68,951,312
65,854,194
3,407,905
69,262,099
As at 31 December 202052,240,97780,991,38561,987,9554,708,359(4,708,359)316,057,569(753,447)(4,195,723)(9,126,807)290,793,508787,995,41738,674,020826,669,437
As at 1 January 2021
52,240,977
80,991,385
61,987,955
4,708,359
(4,708,359)
316,057,569
(753,447)
(4,195,723)
(9,126,807)
290,793,508
787,995,417
38,674,020
826,669,437
Dividend payments for 2020
(30,775,958)
(14,446,758)
(45,222,716)
(45,222,716)
Transfer of a portion of 2021 net profit
33,241,471
(33,241,471)
-
-
Increase/(decrease) in non-controlling interest
-
(1,007,786)
(1,007,786)
Transactions with owners
-
-
-
-
-
2,465,513
-
-
-
(47,688,229)
(45,222,716)
(1,007,786)
(46,230,502)
Net profit for the current year
119,079,575
119,079,575
5,401,786
124,481,361
Other changes in other comprehensive income
(36,164)
3,337,139
492,387
3,793,362
(15,653)
3,777,709
Total changes in total comprehensive income
-
-
-
-
-
-
(36,164)
3,337,139
492,387
119,079,575
122,872,937
5,386,133
128,259,070
As at 31 December 202152,240,97780,991,38561,987,9554,708,359(4,708,359)318,523,082(789,611) (858,584) (8,634,420)362,184,854865,645,63843,052,367908,698,005