Fuel retailer Maxol is to invest up to €60 million in its business over the course of next year and 2027 as it introduces a new meal delivery service and beefs up a number of its forecourts.
The family-owned company has 247 Maxol sites on the island, of which 125 are company owned.
The business grew turnover by 4 per cent last year to €786 million, while profit before tax, excluding exceptional items, was up marginally from €31.2 million to €33.3 million. Maxol said it finished the year with no net bank debt and a “substantial” cash surplus.
The company invested €70.5 million during the 2023-2024 trading period, followed by an additional €47.5 million in capital expenditure during 2025.
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Looking ahead, Maxol has signed an 18-month deal with restaurant platform Noahs to offer a meal delivery service via an app, online, or instore, which will initially be trialled at stations in Donabate, Ardbrae, and Longmile Road next year.
Maxol chief executive Brian Donaldson said growth plans will have a “particular focus” on food, retail convenience, and car wash services. Non-fuel sales currently account for about 40 per cent of gross profit, while 784,000 cars were washed by Maxol this year.
“We are looking at ways in which to diversify our offering,” Mr Donaldson said. “Our future offering could encompass anything from speciality foods, wholesale operations and additional quick-service restaurants to car parts, vehicle or truck sales.
“We’re open to exploring a wide range of opportunities and as long as a business is well-established, well-managed and high-performing with strong prospects for growth, we’ll consider it as part of our diversification strategy.”
Maxol recently began a €4.74 million redevelopment programme at its Longmile Road station, which involves the demolition of the 340sq m existing shop and the construction of a 547sq m retail facility.
The new development will see the integration of the adjacent Beechlawn Motors site, which has been demolished to provide more space for parking, a relocated car wash, motorcycle and bicycle parking, as well as four electric vehicle (EV) charging bays.
Mr Donaldson said the shift to EVs was happening “far more slowly” than anticipated, with “barriers to adoption”, which is in turn impacting the pace at which the business is developing its EV charging network.
He said there was an “urgent need” for grid reinforcements to support large-scale electrification and “faster planning decisions” to accelerate the rollout of charging infrastructure.
He said opportunities for biofuels in motoring, agriculture and aviation were “significant”, and that the Government should reduce the duty on sustainable fuels.
The company has acquired five new sites this year, one apiece in Cork and Galway, as well as three in Dublin that are undergoing retrofits.
Other redevelopments include a €1 million investment in its M3 Mulhuddart service station in Dublin, which will deliver a new Supermac’s drive-thru, a Papa John’s Pizza, and a Zambrero, which is a Mexican restaurant chain.
Elsewhere, Maxol’s sites in Ballinrea, Co Cork, and Enniscorthy, Co Wexford, have benefitted from investments of €120,000 and €400,000 respectively.
In addition, the introduction of the Dunnes Stores Simply Better convenience range at Maxol Templeogue will be trialled at four more in Kildare, Dublin, and Limerick next year.
