Petrolina (Holdings) Public Limited has released its annual report for the year ending December 31, 2024, and has called its annual general meeting (AGM) for June 19, 2025, at the company’s headquarters in Larnaca.

According to the official notice, shareholders will review the 2024 annual report, including the management report, the Corporate Governance Statement, and the consolidated financial statements.

The meeting will also involve the re-election of board members Marios Lefkaritis, Christos Lefkaritis and Costas Iacovou, the remuneration report for 2024 under the Shareholder Engagement Law of 2021, the appointment of audit committee members, and the reappointment of independent auditors.

The company’s board will also be authorised to determine the auditors’ remuneration.

Shareholders holding at least 5 per cent of issued capital may submit resolutions for inclusion in the agenda by May 8, 2025.

Moreover, the record date for participation and voting rights at the AGM is June 17, 2025.

Only shareholders registered on that date will be eligible to participate and vote.

Petrolina noted that full copies of the report and associated documentation are available on its website and at its registered office.

The company also reported that it faced significant headwinds during 2024 due to geopolitical conflicts, high inflation, interest rates, and global supply chain disruptions.

“Despite those challenges, the group continued its strategic focus, including expanding its fuel station network and installing six high-speed electric vehicle chargers at selected stations, five of which are already operational,” the company explained.

It pointed out that new petrol stations opened in Limassol and four additional stations were integrated into its company-operated network across Nicosia, Limassol, the Nicosia industrial zone and Astromeritis.

Amid global uncertainty, driven by the conflict in Ukraine and Israel and the announcement of sweeping US tariffs in April 2025, Petrolina noted increased operational costs across financing, imports, inventory maintenance, and currency fluctuations.

Still, the group said that its primary objective remains to “safeguard its assets and ensure long-term profitability“.

The company also reiterated its commitment to Corporate Social Responsibility (CSR) and sustainabilit.

In this context, it highlighted its early adoption of European standards and its certification under Cyprus’ new national CSR registry.