At 967 million euros the operating profits of her group Motor Oil In 2024, according to the results announced today, from € 1.38 billion in 2023.
Motor Oil’s customized net profit was EUR 504 million (reduced by 43%) while investments increased to EUR 433 million from EUR 353 million last year.
The management of the company will propose to the General Meeting of shareholders the distribution of a dividend of EUR 1.40 per share of which € 0.3 has already been paid as a premises.
According to the announcement:
- Most (68.8%) of the sales of Motor Oil products was allocated to foreign markets. Sales volume exceeded another year the annual production capacity of the refinery, despite the lowest use rate in the last quarter of 2024 due to the fire that occurred on 17.09.2024 and affected one of the two distillation units
- For the use of 2025 it is a priority to complete the restoration work of the unit, which is expected within the third quarter of 2025. The production capacity of the company’s refinery during the rehabilitation work is estimated to range in 65-80% of the rated capacity. The company’s EBITDA for the first half of 2025 is expected to be affected due to the lower rate of use of the refinery units in conjunction with the continuing normalization of refining margins, compared to the historical high margins of the financial years 2023 and 2022.