EE: Statoil Estonia sales up by 13.4% y/y in 2010.

By bne IntelliNews July 4, 2011
Estonian branch of Norwegian fuel retailer Statoil Estonia recorded revenues of EUR 196.2mn in 2010, which indicates 13.4% y/y increase. The main reasons for growth in revenues was due to increase in the fuel prices worldwide. The companys net profit amounted to EUR 8.8mn in 2010, which was mainly contributed by the financial centres operations. Retail and wholesale department contributed EUR 0.3mn to net profit, with total revenues of EUR 174.5mn. Financial services contributed net profit of EUR 8.5mn with revenues at EUR 22.1mn. The financial services provide services like financial asset management, liquidity management and others for the whole Statoil group. Statoil Estonia employed 481 people in 2010.

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