Engen Botswana showed its resilience from the Covid-19 Pandemic and rebounded in 2021 with its best financial performance since the inception of the company, recording a profit after tax of P260.9 million in the year that ended 31 December 2021 against P98.0 million in the previous year, this publication can reveal.
“Engen Botswana took full advantage of the gradual re-opening of the economy in 2021, successfully re-establishing commercial supply contracts as the construction, logistics and mining sectors returned to full operation,” said the Engen Managing Director Brian Sameke in the company’s integrated annual report for 2021 released recently. “The retail side of the business benefitted from the resurgence of travel as the COVID-19 restrictions were eased and people resumed normal movement patterns throughout the country.”
This is the company that whose sales volumes reached 334 million litres as at December 31 2021 as compared to 307 million litres in 2020. Revenue increased from P2.3 billion in the prior year to P2.7 billion in the year under review.
Meanwhile, having his say in the report, Engen Chairman Shabani Ndzinge noted that they expect the year ahead to be mostly unchartered and fraught with numerous challenges. “We will have to continue to adapt to these volatile circumstances and find innovative approaches to countering the ongoing national and global economic slowdown,”’ he said. “The long-term impact of the pandemic and the aftershocks of the destabilization of Eastern Europe will redefine markets and result in structural shifts, particularly in the energy sector. Engen must remain agile if we are to survive and thrive in an uncertain future.”
Ndzinge said Engen is continuing to put in place strategies that will serve us well to strengthen performance, build resilience and enable us to grow in the marketplace. “We believe that there is still considerable growth potential in the local market and will continue to invest in an expanded business footprint and retail presence across the country,” he said.