Fuel retailer Alexela reported the highest 2023 profits of all of Estonia's major gas station chains, according to an industry report. The recently published annual reports of all the major chains in Estonia, also reveal a trend towards a decline in both revenues and expenses in 2023.
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.
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.
Original article Alexela most profitable fuel retailer in 2023 | News | ERR
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