Greek refiner Motor Oil posts first-half profit leap

Motor Oil (Hellas) Corinth Refineries

25/08/2026 16:29

Aug 25 (Reuters) - Greek refiner Motor Oil MORr.AT reported a more than 320% leap in first-half net profit on Tuesday, helped by higher international fuel prices combined with stronger refinery utilisation and export demand.
The group's profit after tax surged to €689.3 million ($804.4 million) for the first six months of the year, up from €163.4 million a year earlier
Motor Oil's earnings before interest, tax, depreciation and amortisation (EBITDA) rose 170% to €1.05 billion on revenue up 43% at €7.52 billion, supported by higher fuel prices.
Industrial sales volumes rose 18% to more than 7.39 million metric tons as refinery utilisation improved after refinery repairs following a 2024 fire.
Export and bunkering sales rose to 78.1% of total volumes, up from 71.6% a year earlier.
Management expects second-half EBITDA to match or exceed levels in the same period last year despite planned refinery maintenance in September and October.
($1 = 0.8569 euros)

 (Reporting by Antonis Pothitos
Editing by David Goodman)
 ((antonis.pothitos@thomsonreuters.com; +48 58 769 65 78;))