Announcement Category: Regulatory Announcements

MOTOR OIL (HELLAS) S.A. hereby announces that the financial results of H1 2019 will be released after the close of business on Wednesday August 28^th, 2019 while a teleconference has been scheduled for Thursday August 29^th, 2019 at 17:30 hrs local time (UK: 15:30, EASTERN US: 10:30).

The Half Year Financial Report will be available on the Company website www.www.moh.gr (Investor Relations / Financial Information / Half Year Financial Reports) as well as on the HELEX site www.helex.gr after the close of business on Wednesday August 28^th, 2019.

Maroussi, August 5^th, 2019

The Board of Directors

 

With reference to a relevant announcement dated 31^st October 2018, MOTOR OIL (HELLAS) CORINTH REFINERIES S.A. hereby announces the completion of the transaction through which its Cyprus based subsidiary under the legal name IREON INVESTMENTS LTD has become the owner of the below mentioned Assets:

• 97.08% stake in the share capital of Investment Bank of Greece S.A.
• 94.52% stake in the share capital of CPB Asset Management A.E.D.A.K. and
• 100% stake in the share capital of Laiki Factors and Forfaiters S.A.

The total consideration paid is EUR 73.5 million. This amount can be lowered
subsequent to the final settlement following a relevant audit.

Maroussi, 31 July 2019

The Board of Directors

MOTOR OIL (HELLAS) S.A. announces that the Board of the Company approved the investment project for the construction of a new Naphtha treatment complex of total budgeted expenditure Euro 310 million. The construction of the new complex is scheduled to be completed by the end of the year 2021.

The new complex will contribute to increased production of high value added Gasolines as well as Kerosene and Hydrogen.

Maroussi, 29 May 2019.

The Board of Directors

INVITATION TO ANNUAL GENERAL MEETING ON 5 JUNE 2019

MOTOR OIL (HELLAS) S.A. hereby announces that the financial results of Q1 2019 will be released after the close of business on Tuesday May 28^th, 2019 while a teleconference has been scheduled for Wednesday May 29^th, 2019 at 17:30 hrs local time (UK: 15:30, EASTERN US: 10:30).

It is clarified that the Interim Financial Statements for the period 1.1.2019 – 31.3.2019 will be available on the Company website www.www.moh.gr (Investor Relations / Financial Information / Quarterly Financial Statements) as well as on the HELEX site www.helex.gr after the close of business on Tuesday May 28^th, 2019.

Maroussi, May 9^th, 2019

In its annual briefing to analysts, organized by the Hellenic Fund and Asset Management Association, MOTOR OIL presented its activities and key financial figures for the fiscal year 2018.

The strategy of MOTOR OIL for the fiscal year 2018 focused on achieving a high rate of utilization for its Refinery, selling the output of its products in the most effective way in the 3 main markets in which it traditionally operates (Domestic, Exports, Shipping-Aviation), and generating positive cash flows. At Group level MOTOR OIL achieved an extension of its debt maturity profile, expected to lead to steadily reduced interest cost, and enhanced its business portfolio through targeted acquisitions.

In May 2018 its subsidiary CORAL A.E. raised through a public offering the amount of Euro 90 million due in 2023 at a fixed rate of 3% per annum. The notes are listed and traded in the Fixed Income category of the Athens Exchange. The net proceeds of the offering were used by CORAL A.E. for the repayment of part of an existing bond loan due in September 2019.

It is reminded that in April 2017 MOTOR OIL successfully refinanced its Euro 350 million five year Senior Notes with a new five year bond due in 2022 at a fixed rate coupon of 3.25% per annum. The Notes of the new bond have been listed and traded on the Irish Stock Exchange’s Global Exchange Market. The Issuer of the Notes is the London based subsidiary MOTOR OIL FINANCE PLC.

In September 2018 MOTOR OIL acquired a 90% stake in the company NRG TRADING HOUSE S.A. which engages in the electrical energy supply business and its portfolio includes household customers, large business groups, small and medium sized enterprises.

Following approval by the Extraordinary General Meeting of the Company dated 24 October 2018, MOTOR OIL acquired a 38% stake in TALLON COMMODITIES LIMITED with its registered office in England and TALLON PTE LTD with its registered office in Singapore. Both companies have activities in the sector of risk management and commodities hedging.

During the fiscal year 2018 the Refinery production output reached a new historic high of 13.3 million Metric Tons compared to 13 million Metric Tons in 2017. The total volume of product sales increased for the eleventh year running mainly taking advantage of its exporting orientation. The export sales volume in 2018 reached 82.51% of total Company sales volume.

The positive cash flows of the fiscal year 2018 led to a reduction of net debt for a seventh year running. MOTOR OIL net debt reached Euro 8 million on 31.12.2018 from Euro 863 million on 31.12.2011. The net debt of 31 December 2018 is a historic low for the Company.

PARENT COMPANY FINANCIAL FIGURES FOR THE FISCAL YEAR 2018

The volume of product sales of MOTOR OIL totalled MT 14.35 million (new historic high) compared to MT 13.83 million in 2017.

The parent company Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) reached Euro 411.1 million for 2018 compared to Euro 551.5 million in 2017 the reduction attributed to the seasonally weaker refinery margins and the negative impact of inventory valuation in Q4 2018.

The parent company Earnings before Taxes amounted to Euro 317 million for the fiscal year 2018 compared to Earnings of Euro 422.3 million for the fiscal year 2017.

The parent company Earnings after Tax amounted to Euro 228.1 million for the fiscal year 2018 compared to Earnings of Euro 295.6 million for the fiscal year 2017.

CONSOLIDATED KEY FINANCIAL FIGURES FOR THE FISCAL YEAR 2018

The consolidated Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) reached Euro 495.1 million for the fiscal year 2018 compared to Euro 620.5 million for the fiscal year 2017.

The consolidated Earnings before Tax reached Euro 355.4 million for the fiscal year 2018 compared to Earnings of Euro 450.3 million for the fiscal year 2017.

The consolidated Earnings after Tax came in at Euro 254.7 million for the fiscal year 2018 compared to Earnings of Euro 313.6 million for the fiscal year 2017.

DIVIDEND

The management of the Company will propose at the upcoming Annual Ordinary General Assembly of Company shareholders the distribution of an amount totaling Euro 144,017,874 (or Euro 1.30/share) as a dividend for the fiscal year 2018.

The dividend amount per share (DPS) for fiscal 2018 is unchanged compared to the DPS for fiscal 2017, despite the reduced net income of the Company, corresponding to a yield of 6.19% based on the closing price of the share at the end of December 2018 and to a yield of 6.55% based on the Volume Weighted Average Price (VWAP) of the share during 2018.

Maroussi, March 29^th, 2019

The Board of Directors

MOTOR OIL (HELLAS) CORINTH REFINERIES S.A. hereby announces the completion of the transaction, under the terms described in the Announcement dated 30 October 2018, for the acquisition through its Cyprus based subsidiary under the legal name MEDIAMAX HOLDINGS LIMITED ^(*) of the joint control of the companies:

• ALPHA SATELLITE TELEVISION S.A. (it operates the television channel ALPHA)
• ALPHA RADIO S.A. (it operates the radio station ALPHA 98.9 in Attika) and
• ALPHA RADIO KRONOS S.A. (it operates the radio station ALPHA 96.5 in Salonica)

The total outlay for MOTOR OIL (HELLAS) CORINTH REFINERIES S.A. for the completion of the transaction and the necessary transformation of the shareholder structure leading to the joint control, with ALPHA MEDIA GROUP LIMITED and Mr. Dimitris Kontominas, of the companies ALPHA SATELLITE TELEVISION S.A., ALPHA RADIO S.A. and ALPHA RADIO KRONOS S.A. was Euro 33 million.

^(*) The company was acquired by MOTOR OIL (HELLAS) CORINTH REFINERIES S.A. under the initial legal name “SEILLA ENTERPRISES LIMITED” in October 2018 and was renamed to “MEDIAMAX HOLDINGS LIMITED” in December 2018.

Maroussi, 22 March 2019

The Board of Directors

MOTOR OIL (HELLAS) CORINTH REFINERIES S.A. hereby announces that the Regulatory Authority for Energy, granted to DIORYGA GAS S.A., a member company of the MOTOR OIL group, a license for an Independent Natural Gas System – FSRU.

Maroussi, 5 March 2019

The Board of Directors  

In the context of its obligations according to the Regulation of the HELLENIC EXCHANGES – ATHENS STOCK EXCHANGE S.A. (HELEX), MOTOR OIL (HELLAS) S.A. hereby announces its Financial Calendar of the year 2019 which has as follows:

Release date of the fiscal year 2018 Financial Results: Monday March 18^th, 2019 after the close of business. The Yearly Financial Report of the fiscal year 2018 will be available on the Company site www.www.moh.gr (Investor Relations / Financial Information / Full Year Financial Reports) as well as on the HELEX site www.helex.gr after the close of business on Monday March 18^th, 2019.

Teleconference: Tuesday March 19^th, 2019 at 17:30 hrs local time (UK: 15:30, EASTERN US: 11:30)

Annual briefing to analysts: Friday March 29^th, 2019

Annual Ordinary General Meeting: Wednesday June 5^th, 2019.

Year 2018 ex-dividend date: Wednesday June 26^th, 2019 (that is, after June 21^st, 2019 which signifies the expiration date for the Futures Contracts on the Company´ s stock and on the FTSE/ATHEX LARGE CAP index, in which it is included).

Shareholders entitled to the year 2018 dividend: Company shareholders registered in the electronic files of the Dematerialized Securities System (S.A.T) dated Thursday June 27^th, 2019 (record date).

First day of payment of the year 2018 dividend: Wednesday July 3^rd, 2019.

Maroussi, February 27^th, 2019

The Board of Directors