Maxol unveils €100 million investment programme
As part of its 2023-2027 strategic plan, the Irish company is preparing for a more challenging environment with the rise in energy costs.
The Maxol Group unveiled a preview of its 2023-2027 strategic plan with the launch of a €100 million investment programme. As energy costs keep rising throughout the European region, the Irish company is preparing for a challenging period for fuel retailers.
As reported by the European Supermarket Magazine, the announcement was made after the company published their latest report, with a profit of €26.9 million in 2021. This meant a 57% increase in 2020, when the firm registered €17.1 million in profit.
Maxol announced the launch of the initiative in an event attended by representatives of the companies and local media. Brian Donaldson, Group CEO, explained that these figures were a consequence of unusual contributory factors such as a proliferation of 'staycations' and people working from home.
The new strategic plans involve the acquisition of new sites in 2023, growing the brand’s network to 250 service stations across Ireland. In addition, Donaldson also pointed out to streamlining operational efficiencies through technology, with investments made towards growing the firm’s non-fuel incomes, with a focus on food and convenience retail.
With this objective in sight, Maxol will update its retail planning guidelines, which were first introduced in 2012. This will also be accompanied by the removal of the cap on retail space in the forecourt and convenience sector of future sites.
