Motor Oil (Hellas) Corinth Refineries SA

Latest Results (20.08.2024):

Revenue Growth

Motor Oil (Hellas) Corinth Refineries SA reported a significant increase in revenue for the fiscal year ending December 31, 2022. The company's turnover reached €16,630.8 million, up from €10,266.6 million in 2021, marking a 61.99% increase. This growth was primarily driven by higher average prices of petroleum products and a stronger US Dollar against the Euro.

Profit Before Tax

For the fiscal year 2022, Motor Oil (Hellas) Corinth Refineries SA achieved earnings before tax (EBT) of €1,557.5 million, a substantial increase from €534.4 million in 2021. This represents a 191.48% rise, reflecting the company's improved operational performance and favorable market conditions.

Net Earnings

Motor Oil (Hellas) Corinth Refineries SA's net earnings after tax (EAT) for 2022 were €1,299.2 million, compared to €764.8 million in 2021. This 69.81% increase in net earnings underscores the company's strong financial performance and effective cost management strategies during the year.

EBITDA Performance

The company's earnings before interest, tax, depreciation, and amortization (EBITDA) for 2022 stood at €1,692.9 million, a significant rise from €489.6 million in 2021. This 245.79% increase in EBITDA highlights the company's robust operational efficiency and profitability.

Dividend Outlook

Motor Oil (Hellas) Corinth Refineries SA has not explicitly mentioned any changes to its dividend policy in the latest financial results for 2022. However, given the strong financial performance and substantial increase in net earnings, the company may consider revising its dividend payouts to shareholders in the upcoming fiscal periods.