Petrol d.d. Ljubljana

Activities of the company

Petrol d.d., Ljubljana was formally established on 5 June 1945 as a subsidiary of the state-owned company Jugopetrol. Before being transformed into a private joint-stock company in 1997, Petrol operated under a variety of different organisational forms. Petrol d.d., Ljubljana’s principal  activity  is  selling  fuels  and  petroleum  products,  merchandise  and  services,  and energy and solutions.   

With  its  318  service  stations,  it  has  a  58 percent  share  of  the  Slovenian  retail  market  in petroleum products.   

In  2023,  Petrol  d.d.,  Ljubljana  generated  EUR 5.3  billion  in  revenue  from  contracts  with customers, which is 28 percent less than in 2022, mainly due to the higher prices of energy commodities.  

Petrol d.d., Ljubljana’s sales revenue was generated through the sale of:  

• 3.3 TWh of fuels and petroleum products, down 7 percent compared to 2022,
• EUR 390.4 million of merchandise and services, up 9 percent compared to 2022,
• 1.1 TWh of natural gas to end-customers, up 29 percent compared to 2022,  
• 1.9 TWh of electricity to end-customers, up 4 percent compared to 2022,
• 111.8 thousand MWh of thermal energy, down 10 percent compared to 2022,  

Operating costs totalled EUR 384.5 million or 28 percent more than in 2022. The costs of materials  totalled  EUR  52.5  million,  up  84  percent  compared  to  2022,  mainly  due to  the increase in energy prices, most of which was leased in 2022 when the energy commodity prices were very high. The costs of services stood at EUR 145.8 million, an increase of 7 percent over the year before. Labour costs stood at EUR 105.0 million, an increase of 28 percent over the year before. Depreciation and amortisation totalled EUR 46.4 million, on a par with the previous year. Other costs amounted to EUR 34.7 million.  

Other operating revenue stood at EUR 7.2 million, which was 11 percent more than in 2022. The net derivative financial instruments totalled EUR 55.2 million or 81.4 million more than in 2022.  

The company’s operating profit totalled EUR 115.4 million, an increase of EUR 97.5 million from 2022.

Finance income from dividends paid by subsidiaries, associates and jointly controlled entities stood at EUR 3.8 million, an increase of EUR 2.1 million compared to 2022. Its net finance expense for 2023 totalled EUR –10.8 million.   

Profit before tax totalled EUR 108.4 million or EUR 90.5 million more than in 2022. The net profit of Petrol d.d., Ljubljana for the year 2023 stood at EUR 92.8 million, up 73.4 million compared to 2022.   

The total assets of Petrol d.d., Ljubljana as at 31 December 2023 equalled EUR 2.0 billion, which was 6 percent less compared to the end of the previous year. Of this, non-current assets amounted to EUR 1.2 billion, which is 2 percent less than on 31 December 2022. Current assets amounted to EUR 820.0 million, which is 11 percent less than on 31 December 2022.  

The equity of Petrol d.d., Ljubljana as at 31 December 2023 equalled EUR 618.6 million, which was 3 percent more than at the end of 2022.