Looks optimistically at its prospects Engine oil in 2023, the company’s Deputy CEO Petros Tzannetakis appeared before analysts during the presentation of the extremely strong results of the previous year. The refining environment remains positive and refining margins are at a very high level, o inflation And energy cost they are retreating, he said. When asked about this, he announced high dividends for shareholders in 2023, if the return matches the return for 2022. The management of the company will make a proposal to the next annual ordinary general meeting distribution of dividends for 2022, €1.60 per share, the highest ever. An interim dividend of €0.40 per share has already been paid from November 2022, with the remaining amount of €1.2 per share to be recognized in fiscal year 2023.

Hellas engine oil up 62% in 2022 turnoverwhich amounted to 16.6 billion euros against 10.26 billion euros in 2021. EBITDA profit was 1.693 billion euros from 490 million a year ago, and net income was 968 million euros from 202 million euros in 2021.

Adjusted EBITDA was €1.628 billion from €379 million in 2021 and adjusted net income was €917 million from €115 million in 2021. Investment amounted to 1.07 billion euros from 428 million euros in 2021-2021, while net debt was 1.763 billion euros. compared to €1.450 billion in 2021, with operating cash flows of €1.152 billion compared to €281 million in 2021.

Overseas sales, including shipping, accounted for 84.96% of total sales.

The company’s gross margin was strong, supported by historically high refining margins, coupled with an increase in industrial sales and a positive impact from reserves estimates.

From the analysis of the company’s sales data, the strong export nature of the refinery is evident (foreign sales, including shipping, accounted for 84.96% of total sales in 2022 compared to 85.42% in the corresponding 2021), as well as a significant participation of manufacturing activities (formed in 2022 at the level of 95.50% of total sales against 88.46% in 2021).

Presenting the results to analysts, Mr. Tzannetakis mentioned all three important acquisitions that Motor Oil made in 2022, namely the acquisition of Anemos, which strengthened its presence in the renewable energy sector, the acquisition of Verd in the biofuels market, and Thalis. in waste management. He highlighted the contribution of Anemos, noting that of the €84 million Mohr contributed to EBITDA, half came from Anemos, although the company was consolidated within one month (December 2022) and at 75%.

Regarding the terminal LNG GAZ Kanal, Mr. Tzannetakis noted that the environment has changed and that more time is needed to make an investment decision. “We’re not saying we won’t continue, but we’re still looking at a lot of details,” he said. Regarding the power plant in Komotini, he stressed that the project financing agreement had been finalized and was proceeding according to the original plan.