Catom Annual Report 2020 EN

General information

Ever since its establishment in 1998, the company has experienced uninterrupted turnover and profit growth, as a result of both takeovers and autonomous growth. Over the reporting year 2020, the organi sation’s size and the numbers of customers and petrol stations have continued to grow, but due to the economic situation under the Covid-19 measures, the turnover in litres and euros dropped in all three segments, except for the shop sales, which showed a steep increase. In the present reporting year, again, several takeovers were realized. The takeover of a trader on land added some business-to business volume. The network of OK petrol stations was also further expanded by the acquisition and rebranding of a number of third party locations and three newly-built state-of-the-art unmanned (as of yet) petrol stations.

In 2020, again, the international (crude) oil industry was volatile. The local markets of finished products may well be characterized by their own dynamics, but are nonetheless, as a rule, affected by that volatility. The market prices of our major products showed a sharp drop in the beginning of the year, followed by a less violent period of partial recovery at the end of the year. Overall, the year showed a decrease, resulting in a negative effect on the stock. In spite of this negative effect on the stock, a volatile market and an equally dynamic biofuel market still appear to create an environment where Catom can yield profits. As a leading company in the market, Catom can promptly seize any opportunities and respond to any threats. By investing even more in the supply side of fuel, and by handling the periods of declining prices well, significantly better margin improve ments have been realised in comparison with earlier years.

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