The recently published annual reports of all the major chains also reveal a trend towards a decline in both revenues and expenses in 2023, compared with the preceding year.

Alexela

Alexela had the highest turnover among gas station chains in 2023 at nearly €618 million, a little under €3 million lower than 2022's figure.

As with other competitors, Alexela's costs for goods and raw materials also fell, by €3 million.

The firms' 2023 operating profit was reported at €13.2 million, €3.3 million less than the previous year.

Olerex

According to business registry data, Olerex's sales revenues last year came to nearly €560 million, an on-year fall of €78 million.

Olerex's expenses also fell by nearly €79 million compared with the previous year.

The company's operating profit last year was approximately €5.9 million, about €200,000 more than in 2022.

Olerex is currently involved in legal disputes with the Environmental Board (Keskonnaamet) regarding biofuel requirements and is involved in a civil lawsuit with competing Terminal Oil, with mutual claims for damages amounting to €11 million.

Neste

Finnish-owned Neste's reported 2023 sales revenues of approximately €213 million, €42 million less than in 2022. Costs the company incurred on goods, raw materials, and services fell proportionately, however, and Neste's 2023 net profit in 2023 was nearly €2.3 million, €300,000 less than in 2022.

Neste also paid out €2.7 million in dividends in 2023, whereas it did not pay any in 2022.

Circle K

Circle K's fiscal year ended on April 30, so the latest data is not yet available.

According to the 2022 report, its sales revenue was just over €400 million, €60 million more than the previous fiscal year, though expenses for goods, raw materials, materials, and services increased by a similar degree.

Circle K's operating profit in the 2022-2023 fiscal year was €12 million, compared with €18 million the previous fiscal year.

The fuel chain paid €8 million in dividends in 2023, down from nearly €13 million the previous year.

--

Follow ERR News on Facebook and Twitter and never miss an update!