Energy, Estonia, Oil, Transport

During the same period last year, the company earned revenues of 58.9 million euros, and the operating profit was 5.3 million euros.

Alexela Group Chairman of the Board Andreas Laane said that this year started in a complicated way, because the world oil market is still in a fragile situation. "Alexela's biggest challenge is the management of subsidiary company Kiviõli Chemical Industry. The complexity of the situation is illustrated by the state in which the market price of shale oil has fallen 54%, while at the same time the state's environmental and resource charges have increased by 35%," explained Andreas Laane.

Laane said that Alexela's petrol station business is under great attention since despite the stable performance, once again unfair competition is occurring, referring to potential cases of tax fraud in the fuel sector. "The government's plan to raise the excise taxes certainly increases the risk of fraud even further," describes Andreas Laane the group's second-largest subsidiary's challenges.

He said though that Alexela Group is in each of its business fields among the three largest companies of the market. "For example, in the metalworks, both Zincpot and Tiki Treiler are strengthening their market positions," Laane said.