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EvroTrans is the operator of a chain of filling station complexes in the Moscow region, working under the Trassa brand. Besides selling fuel, the company develops shops and cafes at its filling stations, as well as charging stations for electric vehicles. The shares trade on the Moscow Exchange under the ticker EUTR.
Retail fuel sales are a business with a thin margin that is, more importantly, regulated in all but name: the wholesale price is set by the exchange and the oil companies, while the retail price is under close watch from the state, which does not let it rise faster than inflation. A filling station is squeezed between these two prices.
Hence the key figure for the industry — non-fuel revenue: coffee, food, goods in the shop at the filling station. The markup there is several times higher than on fuel, and the customer has already arrived. It is this line of business that determines the profitability of a modern filling station complex.
The third line of business is charging stations for electric vehicles: small for now, but growing together with the fleet of such cars.
Filling station complexes in the Moscow region.
Shops, cafes and related goods at filling stations — a high-markup line of business.
Supplies to corporate customers and haulage companies.
Charging infrastructure for electric vehicles.
Strengths and weaknesses describe the business itself. Opportunities and threats describe what may happen around it.
It runs a chain of filling station complexes in the Moscow region: it sells fuel at retail and wholesale, operates shops and cafes at its filling stations and develops charging stations for electric vehicles.
Because the markup on fuel is thin: the wholesale price is set by the market, while the retail price is under the watch of the state. Coffee, food and goods in the shop are sold at a markup several times higher, and the customer has already arrived at the filling station.
It buys fuel on the market at the wholesale price, whereas a filling station of a vertically integrated company receives it from the company's own refineries. When wholesale prices rise, an independent chain loses margin faster.