Financial performance 2019 – 2022

Oilinvest (Netherlands) B.V. Consolidated Profit and Loss account for the years 2019 – 2022

Value in ‘000 Euro 2019 2020 2021 2022
 Net Sales    7.133.549    4.560.888    7.220.673    11.506.043
 Gross Margin       577.129       435.293       673.237       1.213.165
 EBITDA       247.521       221.522       310.474       794.265
 Net Result after tax        141.949       118.084       184.459       476.159

Measures taken

The increasing competition faced by the oil downstream industry in Europe in the last years has led the company’s management to take drastic steps and extensive, severe rationalization measures leading to:

  • Eliminate the exposure versus negative refining margins;
  • Optimize the retail distribution network;
  • Rationalize the wholesale business by eliminating export and low performing businesses;
  • Carry out restructuring plans and cost cutting programs to lower the break-even margin;
  • Grow through the acquisition of distribution assets;
  • Enter new businesses;
  • Invest in new technologies and innovation
  • Invest in the renewable energy sector in order to successfully transform its asset base.

Today, in the current challenging market, the company is continuously striving to explore business opportunities and areas of improvements aimed at boosting efficiency, increasing its decarbonization process and enhancing competitiveness to maximize the assets’ value and the company sustainability in the long run.

Oilinvest will continue to be focused on:

  • Boosting efficiency of our current core business and increasing our customers satisfaction;
  • Reducing the footprint of our own operations by cutting the share of our fossil fuel products, while increasing the share of renewables;
  • Diversifying our portfolio;
  • Adopting ESG initiatives, and targeting the UN sustainable development goals (SDG);
  • Investing in new technologies and ventures that has the potential to substantially reduce GHG emissions.

Achieving net-zero emissions requires balancing our portfolio with regards to fossil fuel and renewable energy sources. This delicate balance can be optimized by diversifying our portfolio into greener renewable revenue streams and adopting climate-focused ESG considerations into our business models.

We will deliver this commitment by introducing our ‘30 by 30’ vision, which we will achieve by increasing our revenues from non-fossil activities, investing in low carbon and green projects, reducing emissions in our operations, and improving our products and services. We are confident that this provides us with a stable platform to support our future objectives and value creation.