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Applegreen increases estate by 32 in six months

John Wood ·
Applegreen branding on forecourt

Applegreen has added 32 sites during the six months ended 30 June 2017, taking it to a total of 275 across its operations in Ireland, the UK and US.

Announcing its half-year results, the company said these figures were prior to its acquisition of 50% of the Joint Fuels Terminal in Dublin port, and deals to acquire the Brandi Group, a 42-site retail operation based in Columbia, South Carolina, in the US, and seven sites owned by the Carsley Group in the UK. Both these deals are expected to complete in final quarter of 2017.

During the half-year, EBITDA was €16.6m, up 28.1% on the same period a year ago, and pre-tax profit was up 25.4% at €10.1m, on turnover of €672.5m, up 21%.

Commenting on the results, CEO Bob Etchingham said: “We are very pleased to report another strong set of results for the first half of the financial year. This performance was underpinned by favourable fuel margins, very strong like-for-like growth in non-fuel revenues and margins together with continued investment in the expansion of the estate.

“A further 32 sites were added to the estate in H1 2017 and this investment activity has continued since the period end as we identify opportunities for growth across our three markets. We recently acquired a 50% interest in the Joint Fuel Terminal in Dublin Port and announced the acquisitions of the Brandi Group in the US and the Carsley Group in the UK.

“We now have a good platform for growth in each of our three markets and are well positioned for the seasonally important second half of the year. Overall, we remain confident in the prospects for the business in 2017.”

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Weekly retail fuel prices: 18 September 2017
RegionDieselLPGSuper ULUL
East120.75128.55119.84
East Midlands120.29128.81119.63
London120.7558.57130.05119.82
North East120.2059.90129.98119.40
North West120.52128.62119.81
Northern Ireland119.2369.90126.85119.03
Scotland120.60128.18119.75
South East121.03130.63120.24
South West120.75129.31119.96
Wales120.35127.44119.57
West Midlands120.4262.90130.69119.84
Yorkshire & Humber120.1971.90128.67119.59

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