OKKO updates 91 filling stations in 2022-2024

OKKO Group updated 91 filling stations in 2022-2024, the group's CFO Nazar Kupybida reported during the XXII Ukrainian CFO Forum in Kyiv on Thursday.

In addition, since the beginning of the full-scale war, 37 damaged OKKO filling stations have been restored, while another 19 stations have been lost and closed.

Kupybida specified that as a result of the shelling of oil depots, the group lost 18,500 tonnes of fuel worth $21.3 million, and the overall losses are estimated at $70 million. The shelling forced them to work on wheels, and the fleet of fuel trucks was doubled.

In the OKKO sales structure ($2.303 billion) last year, 72% came from fuel retail, 14% from fuel wholesale, 9% from non-fuel sales, and 5% from other.

In the EBITDA structure ($231 million), 70% came from fuel retail, 22% from non-fuel sales, 3% from fuel wholesale, and 5% from other.

In 2022-2024, the group attracted $194.4 million in working capital financing, including from state-owned banks – UAH 3.7 billion (equivalent to $88.4 million), international financial organizations (IFIs) – $47.1 million equivalent, private Ukrainian banks – $58.9 million equivalent.

Investment financing since the start of the full-scale war: bioethanol project – EUR75 million, wind farm – EUR160 million, core business – UAH 1.1 billion.

According to the group's estimates, in 2023, the retail market for petroleum products in Ukraine fell by 14.6% compared to 2021.

Last year, 55% of the retail market coverage was provided by six companies. The share of OKKO (405 gas stations) was 19.4%, WOG (368 gas stations) – 14.4%, BRSM (214 gas stations) – 6.7%, Avias (822 gas stations) – 5.7%, UKRNAFTA (459 gas stations) – 4.4%, UPG (81 gas stations) – 4.3%.

OKKO Group unites more than 10 diversified businesses in the fields of manufacturing, trade, construction, insurance, maintenance and other services. The flagship company of the group is Galnaftogaz Concern, which operates one of the largest gas station networks in Ukraine under the OKKO brand, which has about 400 gas stations. The founder and ultimate beneficiary of the group is Vitaliy Antonov.