Plenoil gasolineras

FECHA

Plenoil expands in Galicia and will add 35 more “low cost” gas stations by 2023

Fifteen of them will be installed in the province of Pontevedra. The company expects to close 2021 with five new service stations: two in Vigo and the rest in Mos, A Coruña and Ourense.

Plenoil’ s low cost gas stations are manned during the day and automatic at night. The company’s intention is to gain presence in the main cities of Galicia and increase its penetration in towns with more than 25,000 inhabitants, as well as in the main coastal towns, even if they do not exceed this figure. All of this is part of the company’s intention to grow in the national territory.
A proposal that aims to reach more than one hundred gas stations by 2021, 40 of which were installed this year. A deployment to which Plenoil allocated 20 million euros. But that’s not all, because the company will land in the Portuguese market in January 2022, after opening its first office in the country, in Porto, in November. The low-cost fuel company closed 2020 with a turnover of 125 million euros, a figure it intends to more than double for the current financial year to 320 million euros. Plenoil closed last year with a gross operating profit (ebitda) of 6 million euros, which is expected to rise to 10 million euros in this year’s accounts. If the business plan is achieved, the company’s revenues would reach 550 million euros by 2022. The low-cost gas station segment has abruptly burst onto the market with a proposal based on lower fuel prices than traditional service stations: “the average price is between 10 and 15 cents cheaper,” says Plenoil’s CEO. The formula adopted by the company, according to the manager, is the reduction of margins: “We ended up with a final operating result of approximately 2 cents per liter,” says Rodríguez, who adds to the equation the rental of land as opposed to the purchase and the offer of only two products (diesel and gasoline), which he says reduces its structural costs.