Motor Oil reports 41% hike in H1 2017 turnover

Tuesday, 29 August 2017 20:13
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Greek refinery and petrochemical conglomerate Motor Oil posted encouraging H1 2017 results this week, with the highlight being a major increase in turnover and improved profit margins.

Turnover rose by 40.93 percent to stand at 3.74 billion euros, with EBITDA up by 5.1 percent, or 273.1 million euros. Net profits were up by 7.23 percent and reached 126.5 million euros.

Sales, in terms of volume, reached 6.634 million tons, an increase of 14.1 percent, with exports at 4.907 million tons.

Motor Oil also included a one-off liability of 350 million euros, emanating from its corporate bonds refinancing, in its first half results.

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