Maxol announces strong trading performance for 2024
– and outlines exciting new retail innovations
- Digitised delivery service launched offering freshly prepared food & convenience grocery products
- Car wash critical to the business – CEO introduces American style conveyor car washes
- Diversification strategy underway confirms CEO
- Multi-million Euro investment underway at Long Mile Road site in Dublin (photo attached of Brian Donaldson at Long Mile Rd site)
The Maxol Group has announced its full year trading figures for 2024. Group CEO, Brian Donaldson confirmed a strong performance following an investment programme of €70.5m million during the 2023-2024 trading period, bolstered by an additional €47.5m in capital expenditure during 2025. The Group finished the year in a strong financial position, with no net bank debt and a substantial cash surplus.
- 2024 Group turnover was €786 million, an increase of 4% on 2023 (€756 million).
- 2024 Group profit before tax, before exceptionals was €33.3 million (€31.2 million in 2023).
According to Brian Donaldson, 2024 and 2025 have been defined by strategic investments, key acquisitions, and smart innovations, as the company expanded its offering with new sites, products and services.
Digital fresh food offering
Maxol also announced the launch of a new, freshly prepared meal delivery service, designed to support the growing evening economy. The latest tech-driven innovation will initially be trialled at three Maxol locations, Donabate, Ardbrae, and Longmile Road. It’s a significant development that will see Maxol evolving its fresh food offering, meeting changing consumer lifestyle trends through smarter, more connected retail experiences for every time of day.
Using a leading delivery aggregator to fulfil orders, Maxol has signed an exclusive 18-month deal with restaurant platform, Noahs to digitise meal solutions that can be ordered online alongside some of the forecourt convenience retailers’ most popular convenience grocery lines.
Noahs will provide Maxol with leading chefs to advise on new menus, assist in the design of kitchens and provide comprehensive operating systems to offer a best-in-class solution available from a phone app, online or instore using touch screens. “We already offer an extensive range of freshly made meal solutions, but this takes our offering to a whole new level and potentially, to a whole new set of customers,” said Brian Donaldson. “Our fresh food offering is primarily focused on breakfast through to lunchtime but starting 2026, customers can enjoy cooked-to-order, high quality meals such as pizza, Mexican bowls, burgers and much more, that will be delivered straight to their door.” This move underscores Maxol’s transformation into a leading convenience food retailer, with non-fuel sales accounting for around 40% the company’s gross profit.
Ambitious growth strategy
Backed by an ambitious growth strategy, The Maxol Group has made 14 site acquisitions during the 2023-2025 period, redeveloped or retrofitted 27 of its existing sites and is rolling out a further four of its store within a store concepts with Dunnes Stores, following a successful pilot trial in Dublin.
€4.45M investment in Maxol Long Mile Road
Maxol recently started a €4.74m redevelopment programme at Maxol Long Mile Road in southwest Dublin. The well-known site occupies a prime position at the junction of the Naas, Long Mile and Nangor Roads, a key arterial route between Dublin and Cork and Dublin and Limerick. The multi-million Euro investment, which excludes the cost of a future EV Hub, marks Maxol’s largest single redevelopment in more than five years. The project involves the demolition of the existing shop and the construction of a brand new 547 sq. metre retail facility, a significant increase from the former 340 sq. metres.
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, four EV charging bays, as well as dedicated motorcycle and bicycle parking. Customers can look forward to an expanded Maxol Deli, a Zambrero Mexican-style restaurant, and a new drive-through Burger King. The shop will also feature general retail (100 sq. metres), an off-licence, additional seating accommodating 48 customers, and modern customer washroom facilities.
Brian Donaldson said: “This is one of our most ambitious redevelopments and represents a significant investment for Dublin. The new Long Mile Road service station will provide a modern, vibrant and more sustainable retail and forecourt experience, with exciting new food offers reflecting our repositioning as a leading convenience retailer, with food, coffee, grocery and car washing services driving growth. An EV Hub with four chargers will open in 2026”
2025 acquisitions
Maxol completed five site acquisitions in 2025:
Carnmore, Galway, which strengthens Maxol’s presence in the west of Ireland.
Three sites in Dublin that are undergoing a €1.1m+ retrofitting programme, including the introduction of Maxol’s store concept featuring the Maxol Deli and ROSA Coffee stations.
- Spawell Auto stop, Spawell, Templeogue
- Coolquay Service Station, The Ward, Dublin 11
- Crosslands Service Station, Clondalkin, Dublin 22
The most recent acquisition, which was confirmed this week, is the acquisition of Danos Mallow, Cork, currently operating under the symbol store brand Centra.
2025 redevelopments
Flagship store redevelopments include a recently announced €1m investment in Maxol’s M3 Mulhuddart service station in Dublin, delivering a significant upgrade including a new Supermac’s drive-thru, the introduction of Papa John’s Pizza and Zambrero, a leading global Mexican restaurant, strengthening the existing offering, which also includes Insomnia, Maxol Deli and its proprietary ROSA Coffee range.
Maxol Ballinrea in Cork has benefited from a recent €120k investment focused on refurbishing the shop and upgrading the forecourt signage, as well as improving the internal layout and customer facilities. The site now features Maxol’s latest signature ROSA Coffee, Maxol Deli, convenience store, and an in-store bakery, offering a wide selection of quality food and drink options.
Maxol Enniscorthy in Wexford has been transformed into a more modern, convenience-led destination following a €400k refurbishment programme
Expansion of Dunnes Stores trial
Following the successful introduction of the Dunnes Stores Simply Better premium convenience range at Maxol Templeogue, this store within a store concept will be trialled at four more Maxol sites.
The alliance between the two family-owned Irish businesses will extend to Maxol Newbridge (Kildare), Maxol Sandyford (Dublin) and Maxol Donabate (Dublin) before year-end, followed by Maxol Dooradoyle (Limerick) in early quarter one 2026.
Brian Donaldson said, “We looked at what was important to our customers and set about developing an alliance that enables us to offer even more choice, convenience and value, together with a wide range of high-quality ingredients and meal solutions from both the Maxol and Dunnes Stores stables. Customer reaction to the introduction to Maxol Templeogue of some 350 Dunnes Stores Simply Better and Dunnes main branded products has been phenomenal, and I believe it will be a winning formula as we trial even more stores and communities across the country.”
Car Wash – critical to success of the business
With an estimated 784k cars passing through a Maxol car wash in 2025, Maxol is taking steps to redefine what it means to deliver for customers beyond fuel. Car wash has become a critical and growing part of the operation, with Brian Donaldson explaining that it is a core service that strengthens customer loyalty and reputation, while driving repeat visits. Recognising the evolving expectations of motorists, Maxol is rolling out an American-style conveyor car wash technology representing a major leap forward in speed, quality, and customer experience. This innovative car wash system is already operational at two Maxol stations in Dublin, following the company’s acquisition of sites in Spawell and Coolquay earlier this year.
Planning applications for the conveyor car wash system that combines advanced automation with precision will be lodged shortly for five of Maxol’s existing sites in Limerick, Cork, Dublin, Belfast and Derry.
Looking ahead, 2026 will further mark the next stage of Maxol’s innovation journey with the planned launch of a car wash subscription model, giving customers unlimited access for a simple monthly fee. This approach not only delivers convenience and value for drivers but eliminates individual payments and will offer access to even more loyalty rewards through the Maxol loyalty app. Car wash is one of a number of areas where Maxol is setting new benchmarks for service and innovation within the forecourt sector and Brian Donaldson said: “This expansion underscores our commitment to innovation and customer satisfaction and I believe this will help position Maxol at the forefront of the next generation of forecourt retailing.”
Diversification for growth
Brian Donaldson said that as part of Maxol’s ongoing growth strategy, the company is actively exploring opportunities to diversify the business through investments in both complementary and non-complementary sectors. “As our core business evolves, we are looking at ways in which to diversify our offering and have an open mind as we begin the process. 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.”
Technology adoption
Maxol uses AI and similar tools to help improve efficiencies by removing some of the routine tasks that have been historically labour intensive such as fuel pricing, automatic stock replenishment and forecasting models. Brian Donaldson explained that Maxol has embraced AI in the business and is currently using Generative AI in Marketing, forecast models, HR, and Desk Research. “I believe AI can play a positive role in our business but only if it is used appropriately and we have clear rules on who, what and where it can be used,” said Brian Donaldson. “We have developed AI policies around data protection and risk mitigation, and already it has helped enormously, eliminating some of the day-to-day administrative burden, allowing us to focus on the people-led side of the business. We see AI as a tool to help serve our customers better. ”
Headwinds
Notwithstanding the growth and innovation within the business, Brian Donaldson highlighted challenges impacting the forecourt retail convenience sector, and the economy more broadly, including a more cautious consumer, a slower transition to EV adoption and the rising cost of doing business.
Future of fuels
“The Government’s ambition to achieve a 100% transition to electric vehicles (EVs) by 2030 is increasingly being viewed as overly ambitious, with the shift to EVs happening far more slowly than anticipated,” said Brian Donaldson. Today, sales of EVs account for just over 18%1 of the new car sales market in ROI, up from 12% in 2024 and a clear signal that barriers to adoption remain.
“The challenges are the same as they have always been, such as the urgent need for grid reinforcements to support large-scale electrification and faster planning decisions to accelerate the rollout of charging infrastructure. While hydrogen remains prohibitively expensive for motorists, alternative fuels such as biofuels and hydrotreated vegetable oil (HVO) are emerging as realistic transition options, particularly for commercial drivers. Meanwhile, it’s clear that consumers are taking a cautious approach, with many opting for hybrid vehicles as a stepping stone towards full electrification. Hybrids represent more than 37% of the market, a factor that policymakers and industry leaders can no longer afford to overlook when it comes to setting targets and incentivising the market.” Maxol believes that the opportunities for HVO in motoring, agriculture and aviation are significant, but that the government needs to reduce the duty on sustainable fuels to help encourage and grow adoption.
While Maxol’s investment strategy includes the roll out of more ultra rapid EV hubs and chargers, building on the existing three dedicated EV hubs and 10 standalone chargers – Brian Donaldson confirmed that the slowdown in EV adoption is impacting the pace at which the business is developing its EV charging network.
Cost of doing business
Maxol would like to see the cost of doing business addressed more keenly by government, particularly for small businesses, many of which are being challenged by rising energy and insurance costs together with the cost of labour.
“Recent social reform measures, including the latest 65c per hour increase in the minimum wage from 2026, continue to significantly increase the cost of labour at a time when businesses are already contending with volatile energy prices, triggered by geopolitical instability. Rising insurance and other operational costs, alongside additional regulatory burdens, are intensifying cost pressures and potentially delaying capital expenditure, decision making and investment in new hires. Planning processes remain uncertain, costly, and protracted and it’s not a conducive environment in which to operate. Doing business has become more complex and more expensive and there is a real need to bolster support for existing businesses, and start-ups in particularly, to help foster innovation and drive positive market dynamics.”
Innovation aligned to values
Brian Donaldson confirmed that he was looking ahead to 2026 with confidence amid further plans for growth as part of The Maxol Group’s five year, €193m investment strategy (2023-2027), with a particular focus on food, retail convenience and car wash services. “We will continue to innovate with new and expanded food concepts, redeveloped modern sites and digitised services to create market-leading service stations,” said Brian Donaldson.
“Notwithstanding our position as a modern, dynamic, technology and data-led business, our values as a family owned business will continue to guide our decision-making, and we will focus on servicing local communities and working with local people who understand local dynamics.”
Fast Facts
- Operating as an Irish family business for more than 105 years, Maxol employs 85 people directly and more than 1,300 indirectly across the island of Ireland.
- There are 247 Maxol sites in Ireland. 125 are company owned (92 in ROI, 33 in NI) with 122 supplied under the Maxol brand and operating as independent dealer-owned sites (54 ROI, 68 in NI).
- In 2025 six million cups of coffee will be sold across Maxol stores; five million Maxol ROSA Coffee cups and 1 million Barista coffee in NI, representing an increase of 10% on 2024.
- More than 74k customers have downloaded the Maxol loyalty app to avail of special offers, promotions and its FuelPay function, allowing customers to pay for their fuel from the comfort of their vehicle.
*September 20251 market share by engine type 2025: Petrol 25.41%, Hybrid (Petrol Electric) 22.62%, Electric 18.39%, Diesel 17.15%, Plug-In Electric Hybrid 14.82%
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