Press release
Geoplin successful on foreign markets
Geoplin performed well during the 2013 financial year, in which it successfully expanded its activities to foreign markets. Its greatest achievement was the successful establishment of natural gas trading in Croatia, where Geoplin achieves a 10% share of natural gas consumption on an annual basis. The company’s latest major success was the signing of an agreement on the supply of natural gas with Vetropack, one of Geoplin’s largest customers.
Geoplin performed well during the 2013 financial year. The company estimates that profit was up 15% in 2013 relative to 2012, while profit was 20% higher than planned for 2013.
Expansion to new markets had the biggest impact on the company’s results. Geoplin has already established an infrastructure for operations in Italy, Hungary and Austria. In Croatia, the company has already achieved a 10% share of annual natural gas consumption. The latest milestone in Croatia was the signing of an agreement on the supply of natural gas with Vetropack, one of the leading manufacturers of glass packaging in Europe. Vetropack is one of the largest consumers of natural gas in Croatia and one of Geoplin’s largest customers.
Geoplin is planning even more ambitious objectives for 2014, as the company aims to increase sales on the domestic and foreign markets and thus revenues by 7%. Revenues from natural gas sales on foreign markets are expected to rise by 130% in 2014 relative to 2013. The company is also planning to further increase its presence on foreign markets, as it expects natural gas sales on those markets to account for 35% of total sales in terms of volume in 2014.
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