Energy, Estonia, Transport

This is by three times more than the company earned in 2007.

The biggest motor fuels retail sales company that is based on Estonian capital increased its sales revenue by nearly 60% in the year-on-year comparison, to 1.54 billion kroons.

“Retail sales of fuels are based on confidence of consumers. A bigger turnover indicates greater confidence in us,” commented the marketing director of Olerex Antti Moppel.

In 2008, Olerex employed an average of 238 individuals, the pay cost of whom totalled at 40.93 million kroons.

Regardless of the economic decline, the enterprise stated that it will continue expanding its retail sales network. On July 1 Olerex opened a service station in Tõrva. According to Moppel, Tõrva is of interest to Olerex as a local micro-market as well as in servicing the transit traffic on the road between Pärnu and Valga.

In the past year, the chain has added 12 new filling stations to its retail chain. According to Moppel, this makes it the fastest-developing fuel retail chain in Estonia. Olerex has a total of 42 filling stations in Estonia, five of them in Tallinn. According to consultancy company Wood Mackenzie, Olerex’ market share last year was 13%.