Business · Companies · 6 hrs ago
Nieves sales fall 12% as it awaits impact of VAT fraud measures
Catalan fuel group Nieves reported lower sales in 2025, its first full year after reorganising its business.
Revenue fell 12% to €2.055 billion, while attributed profit slipped 3% to €12.6 million.
Lower prices and sales volumes drove the decline, particularly at its wholesale fuel subsidiary Axoil Energy.
Nieves says VAT fraud has added to pressure on its business, with some fuel traders collecting VAT from buyers but not paying it to the tax authorities.
Government measures aim to curb the fraud by requiring VAT payment when fuel leaves a tax warehouse or allowing trusted large operators to defer payment.
Nieves hopes Axoil’s sales volumes will recover as the measures take effect, while its petrol station business, Nieves Mobility, is expected to improve its margins gradually.
Nieves reported 2025 revenue of €2.055 billion, down 12% from the previous year.
The Catalan fuel group attributed the decline to price and volume factors, mainly affecting its wholesale subsidiary Axoil Energy.
Its attributed profit fell 3% to €12.6 million.
Nieves is waiting for government measures against VAT fraud in the fuel sector to improve conditions.
The company expects Axoil to recover sales volumes and Nieves Mobility to gradually improve its commercial margins.
- Who
- Nieves, a family-owned Catalan fuel group controlled by José Domingo Nieves Doprado and Luis Nieves Prado.
- What
- Its 2025 revenue fell 12% to €2.055 billion. The company is awaiting the impact of measures against VAT fraud.
- When
- In 2025, compared with 2024.
- Where
- Nieves is based in Esparreguera, Barcelona, Spain.
- Why
- The company said the revenue decline was due to price and volume factors, mainly at Axoil Energy. It also cited unfair competition linked to VAT fraud in the sector.
This story does not have two clearly opposing sides.
Legal measures were taken against VAT fraud in the fuel sector.
Nieves recorded revenue of €2.055 billion and attributed profit of €12.6 million.
The company expected Axoil to recover sales volume and Nieves Mobility to gradually improve its commercial margins.
- 2025 revenue
- €2.055 billion
- Revenue change
- 12% lower than in 2024
- Attributed profit
- €12.6 million, down 3% from 2024
- Axoil Energy sales volume
- 2.8 billion litres, compared with 3.274 billion in 2024
- Nieves headquarters
- Esparreguera, Barcelona
What people are saying
The company has continued to fight unfair competition in the sector and is waiting for the legal measures taken at the end of 2024 against VAT fraud to correct the situation definitively.
for reasons of price and volume
a very commendable performance
an improvement in internal organizational efficiency