CALGARY - Parkland Corp. is aiming to about double its earnings in less than five years after swinging to a profit in the first quarter despite lower revenues and fuel volumes sold.

The Calgary-based convenience store operator and fuel retailer says it wants to post $2 billion of adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) attributable to shareholders by the end of 2025, up from $967 million last year and $1.27 billion in 2019.

The increase could come from expanding its existing network, acquisitions and enhancing margins.

Parkland says it had net earnings attributable to shareholders of $31 million or 20 cents per diluted share in the first three months of 2021 on revenue of $4.23 billion, compared with a loss of $79 million or 53 cents per share on revenue of $4.32 billion in the same period of 2020

The company says it sold 5.5 billion litres of fuel and petroleum products in the quarter, a decrease of 6.3 per cent compared with the year-earlier period.

Parkland was expected to earn $71.1 million or 43 cents per share on $4 billion of revenues, according to financial data firm Refinitiv.