Image

2010

26/11/2010

Presentation of “Motor Oil (Hellas) S.A” at the Association of Greek Institutional Investors

In the context of the regular undertakings of the Association of Greek Institutional Investors, MOTOR OIL (HELLAS) S.A. proceeded with a presentation regarding its activities and key financial results for the period 1.1.2010 – 30.9.2010 as well as its corporate objectives and development strategy.

During the current fiscal year the Company demonstrated notable activity as regards completion of investment projects and acquisition deals, therefore, laying the foundations for a further dynamic growth of the MOTOR OIL Group endeavors.

The new Crude Distillation Unit of a processing capacity of 60,000 barrels per day commenced its operation in May. The cost for the construction of the new CDU reached EUR 180 million and, following its installation, the Refinery’s crude distillation capacity increased by 50% while the Refinery total production capacity increased to 9 million metric tons per annum.

The 100% acquisition of the shares of “SHELL HELLAS S.A.” (renamed: “Coral S.A.”) and of “SHELL GAS A.E.B.E. YGRAERION” (renamed: “Coral Gas A.E.B.E.Y”) was completed in June. The SHELL branded retail network is the most efficient in the domestic market and following its acquisition a significant enhancement of the market share of the MOTOR OIL Group is anticipated.

During the first 9 months of 2010, MOTOR OIL continued selling its products in the 3 main markets: Domestic – Export – Bunkering through a strong sales network and long-term relationships with its clients.

During the third quarter the parent Company key economic figures improved on the back of the increase of the Refinery production capacity, which, combined with the acquisition of the “SHELL” retail network and the exporting orientation of the Company secured an overall sales volume increase.

The turnover in the third quarter 2010 amounted to EUR 1,250 million compared to EUR 920 million in the third quarter of 2009.

The volume of sales in the third quarter 2010 totalled 2.5 million metric tons compared to 2.3 million metric tons in the third quarter of 2009.

The Gross Profits amounted to EUR 70.4 million compared to EUR 65.4 million.

Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) reached EUR 63.9 million compared to EUR 40.0 million.

Earnings before Tax (EBT) amounted to EUR 38.4 million compared to EUR 24.0 million.

The respective key economic figures for the nine month period 2010 denote a satisfactory course.

The turnover of the parent Company in the nine month period of 2010 amounted to EUR 3,420 million compared to EUR 2,509 million in the respective period of 2009.

The volume of sales in the nine month period of 2010 totalled 6.92 million metric tons compared to 7.13 million metric tons in the nine month period of 2009.

The Gross Profits of the parent Company in the nine months of 2010 amounted to EUR 269.5 million compared to EUR 270.7 million in the nine months of 2009.

Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) for the nine month period of 2010 reached EUR 144.6 million compared to EUR 187.7 million in the nine month period of 2009.

Earnings before Tax (EBT) amounted to EUR 84.5 million in the nine months of 2010 compared to EUR 139.2 million in the nine months of 2009.

 

November 26th, 2010

 

textsizePrintSend to Friend