As we publish our 2024 Annual Report, we reflect on a year of resilience, disciplined execution, and continued transformation in a complex and fast-moving energy landscape.

VARO remained focused on maintaining safe and reliable operations, managing risk and financial performance in a volatile market. We advanced our strategy with agility, adapting to evolving customer needs and regulatory developments while continuing to deliver reliable energy solutions, building a strong foundation for long-term growth.

2024 highlights include:

• Continued focus on safety as a core value, advancing the roll-out of our Operating Excellence Management System (OEMS), Just Culture approach and Life-Saving Rules across operations.
• Strong operational performance and supply across core markets
• Acquisition and integration of elexon, scaling our e-mobility platform across 16 countries
• Expansion of capacity at VARO Biogas Coevorden
• Delivery of sustainable solutions to the marine sector

We also continued to invest in people, launching the VARO Sales Academy and enhancing internal development programmes through structured learning paths and partnerships, including with IMD.

In March 2025, we announced the acquisition of Preem, subject to regulatory approvals. This is a transformational step that will significantly expand our geographic reach, creating a new leading force in energy across 33 countries.

With strong momentum and a clear strategy, we enter 2025 positioned for growth - grounded in performance, focused on customer needs, and committed to sustainability as a core business imperative.

Please find an extract of the Annual Report here: 

Watch a short animation with key highlights of the year.