VAROPreem announced its new VAROPreem Value Growth Strategy for the next five years, following the successful delivery of the ONE VARO Transformation strategy 18 months ahead of schedule.
The new strategy focuses on using the scale, capabilities and integrated value chain created through the combination of VARO and Preem to deliver growth and value creation while ensuring resilient, secure and diversified energy supplies for Europe.
Building on the creation of a new leading European energy company, VAROPreem is now Europe's third-largest independent refiner and second-largest renewable-fuels producer, supplying approximately 10% of Europe's mobility fuel demand, with seven manufacturing hubs, access to more than 120 terminals and operations across 41 countries, serving 50,000 business customers.
Dev Sanyal, group chief executive officer of VAROPreem, said: “Having delivered our ONE VARO Transformation strategy 18 months ahead of plan, and following the acquisition of Preem, we have created a leading European energy company with a combination of critical infrastructure, industrial scale and commercial excellence across conventional and sustainable energies.
“We intend to use these strengths to accelerate growth, double earnings potential by 2030 and strengthen our leadership across European energy markets. Our distinctive ‘Integrated Twin Engine Powerhouse’ model gives us the resilience and flexibility to securely and reliably supply the energy Europe needs today, while continuing to build the energy solutions it will need tomorrow.”
Through a single integrated system spanning feedstock sourcing, conventional and renewable manufacturing, storage, blending, logistics, trading and customer delivery, VAROPreem optimises energy flows across products, markets and geographies.
