On Thursday, June 19, the 25th Annual General Meeting of the shareholders of Petrolina (Holdings) Public Limited was held, presenting a comprehensive overview of the company’s financial performance and future strategies.

The audited consolidated financial results for 2024 were extensively presented. According to the data, Petrolina’s total turnover—through fuel stations, commercial clients, and other petroleum companies—reached €570.1 million, up from €559.9 million in 2023. Profit before taxation rose significantly to €3.1 million compared to €692,000 in the previous year. Meanwhile, profit after tax from continuing operations increased to €2.7 million, up from €1.1 million in 2023. Based on these results, earnings per share from continuing operations stood at 3.11 cents, up from 1.24 cents in 2023.

In line with the company’s consistent dividend policy and considering its future outlook, the General Meeting approved the Board of Directors' proposal for a final dividend payment of 2.0 cents per share—equivalent to 5.9% of the nominal share value.

In his speech, Mr. Kostakis Lefkaritis, Executive Chairman of Petrolina, emphasized the Group’s ongoing commitment to safeguarding its financial resources, enhancing competitiveness, and strengthening long-term sustainable development under the Environment – Society – Governance (ESG) framework.

“Our Group actively invests in these pillars and continues to contribute meaningfully to Cypriot society—a commitment that will persist into the future as a sincere expression of appreciation for our country,” Mr. Lefkaritis stated.

He also highlighted the Group’s continuous evolution, focusing on long-term infrastructure projects aimed at securing business continuity. Notably, he mentioned the planned acquisition of ExxonMobil Cyprus Limited through a newly established wholly owned subsidiary, Med Energywise Ltd.

The Acquisition Agreement was signed in November 2024, and a merger notification was submitted to the Commission for the Protection of Competition in February 2025, as the transaction is subject to regulatory approval. The evaluation process is currently ongoing.

Beyond its core petroleum operations—ongoing for over six decades—Petrolina is moving forward with a bold development project titled “Larnaka: Land of Tomorrow.” The project aims to responsibly utilize the company’s privately owned land, combining environmental respect with urban development. According to company leadership, the initiative is envisioned as a model of attractiveness, not just for Larnaka, but for all of Cyprus.

Closing the meeting, Mr. Lefkaritis extended heartfelt thanks and deep appreciation to all members of the Board of Directors, the management team, station operators, staff, auditors, legal advisors, and all collaborators who support Petrolina’s corporate operations. He also expressed gratitude to the shareholders for their enduring trust.

“It is within this framework of responsibility and trust that we focus all our efforts toward achieving our strategic corporate goals and unlocking opportunities for the benefit of all shareholders,” he concluded.