Tristar Group, the UAE based global integrated energy logistics company, announced its financial results for the year ended December 31, 2021. The Group’s consolidated revenue grew by 18.6 per cent in comparison with the previous year, and normalised EBITDA (earnings before interest, taxes, depreciation, and amortisation) reported a significant increase of 37.3 per cent compared to 2020. Compared to 2020, the net profit figure was up 167.6 per cent. All four of the Group’s business segments are aligned in showing outstanding improvement compared to the previous year.
Eugene Mayne, Group CEO of Tristar said: “Our performance in 2021 reflects improving market conditions and our ability not only to be a resilient and diversified business model, but also our capacity to focus on strategic customers and opportunity to grow. We continue to build up a strong pipeline of growth opportunities across all our business segments and deliver attractive returns to our shareholders. We pride ourselves on our long-standing relationships with our blue-chip clients who have been key enablers to our continued success.”
Tristar, headquartered in Dubai, offers end to end fuel logistics solutions to blue-chip clients including international and national oil companies and intergovernmental organisations. Its integrated energy logistics platform spans road and maritime transportation, specialised warehousing, fuel farms, commercial aviation refueling and fuel supply operations.
With its recent acquisition of a 51 per cent stake in HG Storage International Limited, the company’s global presence has expanded to 29 countries. It has over 20 years proven legacy of operational quality making it a partner of choice to its customers, with a track record of profitable growth. The company operates to the highest international health, safety, environmental and compliance standards and receives awards for its exemplary record of operational and safety excellence, as well as sustainability initiatives.
