Estonia: Record Profits for AS Terminal in 2022 

Compared to the last year sales revenues rose by 73.7 %


AS Terminal, a fuel services company operating under the brand Terminal Oil, tripled its net profit to €3.4 million in 2022, up from the previous year. Its sales revenue rose by 73.7% to €295.1 million, driven by a strong performance in wholesale and retail motor fuel sales, which totaled €165.7 million and €112.3 million, respectively. Other revenue streams included sales of other goods and services at service stations (€13.8 million), catering (€1.7 million), other sales (€679,139), and storage services for liquid fuels (€976,240). The company invested in its service stations, container fleet, and machinery, opened 10 new service stations, and further developed its IT systems. As of December 2022, AS Terminal had €20.9 million in claims against buyers and nearly €23.6 million worth of stock. In 2023, the company plans to expand its network of service stations and range of motor fuels, focusing on gaseous fuels and electric chargers. Its workforce grew to 240 full-time employees in 2022, an increase of 21 from 2021, which resulted in labor costs rising by 44.1% to €6.7 million. 

Source: majandus.postimees.ee

Jakub Warzecha

Creative copywriter, archaeologist. Interested in history, technology and military matters. Specializes in marketing communications and application architecture design.

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