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MarketScreener Homepage  >  Equities  >  Ljubljana Stock Exchange  >  Petrol d.d.    PETG   SI0031102153

PETROL D.D.

(PETG)
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Slovenian fuel retailer Petrol says quarterly net profit up 20%

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05/22/2020 | 03:25am EDT

(Updates with quote, forecast, details)

LJUBLJANA, May 22 (Reuters) - Slovenia's largest fuel retailer Petrol on Friday posted a 20% jump in first-quarter profit despite a drop in sales because of the coronavirus crisis.

Petrol reported group net profit of 21.8 million euros ($23.8 million), against 18.2 million euros in the same period last year, even as sales dropped 15% to 916 million euros.

The company gave no direct explanation on profit rise but commenting on its figures it did say there had been "a positive effect ... arising from the value of the derivatives used to balance out petroleum-product price quotes." It also said the coronavirus crisis impact kicked in only in March.

However, Petrol expects to miss its 2020 forecast made in December, according to which it expected a net profit of 109.8 million euros this year on sales of 6.4 billion.

"The business plan for 2020 cannot be achieved due to the pandemic and the resulting economic crisis," Petrol said.

It added sales of oil products could fall 14%-17% this year after they fell by 18% to 742,900 tons in the first quarter.

"Measures to curb the epidemic, taken by countries in which Petrol operates, have caused a significant decline of economic activity and restricted movement, which has a very negative impact on the sales of Petrol group," it said.

Petrol operates 509 filling stations in Slovenia, Croatia, Bosnia, Serbia, Montenegro and Kosovo.

Slovenia has so far reported 1,468 coronavirus cases and 106 deaths. It imposed a general lockdown in the middle of March and has gradually started lifting it from April 20.

($1 = 0.9151 euros) (Reporting by Marja Novak; Editing by Edmund Blair and David Evans)

Stocks mentioned in the article
ChangeLast1st jan.
LONDON BRENT OIL 3.42% 41.22 Delayed Quote.-40.24%
PETROL D.D. -0.30% 330 End-of-day quote.-12.00%
RISE, INC. 4.35% 24 End-of-day quote.-20.00%
WTI 2.94% 38.291 Delayed Quote.-39.82%
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Financials
Sales 2020 5 205 M 5 892 M 5 892 M
Net income 2020 - - -
Net Debt 2020 365 M 413 M 413 M
P/E ratio 2020 -
Yield 2020 6,15%
Capitalization 678 M 768 M 768 M
EV / Sales 2019
EV / Sales 2020 0,20x
Nbr of Employees 4 078
Free-Float 67,0%
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Mean consensus BUY
Number of Analysts 2
Average target price 400,50 €
Last Close Price 330,00 €
Spread / Highest target 22,4%
Spread / Average Target 21,4%
Spread / Lowest Target 20,3%
Managers
NameTitle
Tomaž Berlocnik President-Management Board
Nada Drobne Popovic Chairman-Supervisory Board
Zoran Gracner Member-Supervisory Board
Igo Gruden Member-Supervisory Board
Sašo Berger Vice Chairman-Supervisory Board
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