Montenegro’s Jugopetrol reported net sales revenue of 307 million euros for the nine months to 30 September 2026, up 56.4% from the same period a year earlier. Net profit rose 72.2% to 15.16 million euros, according to the company’s financial results.
Operating profit increased to 17.98 million euros from 10.36 million euros, while profit before tax reached 17.78 million euros, compared with 10.30 million euros in the first nine months of 2025.
Fuel sales volumes also increased. Total fuel sales in the third quarter were 11% higher than in the same quarter of 2025. In the domestic market, retail sales grew 5% and sales to privately owned filling stations rose 8% over the nine-month period.
Jugopetrol linked demand to greater uncertainty in supply and fluctuating fuel prices, which prompted customers to build up stocks. Its network comprised 52 filling stations, including four yacht services, during the reporting period.
Sales of aviation fuel climbed 24% in the first nine months, which Jugopetrol attributed to new routes and more flights at airports in Montenegro. Fuel sales to ships and yachts rose 43%; the company linked the increase to the removal of excise duty on fuel for private yachts.
Profitability indicators in the third quarter were above year-earlier levels, the company said. It pointed to more efficient inventory management, which allowed it to optimise margins as crude oil prices fluctuated. Net profit margin was 4.9%, against 4.5% a year earlier.
Jugopetrol had 109 employees at the end of September 2026.
