Polish state energy giant Orlen has acquired Austria’s Doppler Energie with its network of 266 gas stations, expanding into the seventh European market, officials have said.
Article continues below
>
ORLEN is on the cusp of becoming the owner of 266 modern service stations through the acquisition of 100% of Doppler Energie, the operator of the Austrian network, from the Doppler Group.
These stations, currently operating under the Turmöl brand, span all Austria and rank among the country's most popular networks, with steady financial performance.
Almost half of the stations set to be acquired are self-service facilities, enabling customers to purchase and pay for fuel directly at the pump. In addition, over 130 stations offer shopping opportunities, whilst approximately 80 provide foodservice and refreshment facilities.
25 stations are equipped with photovoltaic panels.
The firm soon to be part of ORLEN's portfolio also operates a network of electric car chargers under the Turmstrom brand, featuring 35 charging points at 29 different locations.
The transaction will include the acquisition of Austrocard, a fuel card provider for both private and business customers, which is currently accepted at over 500 locations throughout Austria.
The acquisition of the Austrian company and its fuel station network will be financed with the ORLEN Group’s internally-generated funds.
The transaction is set to be concluded pending approval from antitrust authorities, with the closing anticipated in late 2023 or early 2024.
At present, the ORLEN Group has a total of 3,156 stations, 39% of which are located abroad. Following the acquisition of the Turmöl network, this number will rise to 3,422 stations, increasing the proportion of foreign stations in the ORLEN’s retail network to 44%.
The ORLEN Group's progression in the retail segment and other key sectors is a direct consequence of strategic mergers with fuel and energy companies, yielding significant synergies.
Recently, ORLEN has completed an analysis to quantify the benefits of the mergers.
The most impactful of these benefits is projected to deliver a consistent uplift in EBITDA in the coming years, with the potential to enhance it by as much as PLN 3 billion ($735 m) annually.
Synergies will manifest across various domains. Notably in financial management, there is potential for enhanced capabilities to secure financing in foreign currencies within global markets.
In logistics, operational cost efficiencies are expected for both transport providers and rail tank car lessees, facilitated by collective planning and streamlined management of fuel distribution. ■