Motor Oil: 9-month 2022 profits exceed one billion euros; 0.40€ dividend per share

Greece-based Motor Oil, one of the biggest petrochemical groups in southeast Europe, on Wednesday announced impressive nine-month 2022 results, with profits for the period exceeding one billion euros, compared to 206.3 billion euros in the corresponding period of 2021.

Turnover for the Jan-Sep 2022 period reached 12.7 billion euros, up by 77 percent from the corresponding period of 2021.

Adjusted EBITDA reached 1.267 billion euros, up from 306 billion euros in the first nine-month period of 2021; 1.391 billion euros was the EBITDA figure for this year’s nine-month period, up from 407 million euros in 2021. Reported were 304 million euros.

Exports of refined fuel products increased by 70 percent during the same period, yoy.

In light of the results, the ATHEX-listed refinery group’s board of directors on Nov. 7, 2022, approved of a provisional dividend of 0.40 euros per share for the 2022 fiscal year, with disbursement set for Thursday