It is wrong to talk about superprofits. The correct term is windfall profits that have been taxed, said Yiannis Vardinogiannis, Executive Vice President and Managing Director of the company, in a speech delivered in the context of Motor Oil’s regular general meeting of shareholders.

However, he called the taxation fair. We intended to repatriate some of the profits ourselves anyway, he said, noting, however, that the vast majority of the profits that were taxed came from exports at the 80% rate. “Let’s do away with the theory that we are talking about superprofits. If politicians want, let them use different terminology, and if they want, let them raise tax rates. Super profits are wrong, and besides, a company cannot live under the stress of extraordinary taxation all the time. We offer Greece,” said Mr. Vardinogiannis.

A company cannot live permanently under the stress of extreme taxation.

Group Deputy Managing Director Petros Tzannetakis, in his presentation, emphasized the importance of sustainability and adaptability for the next day, as well as the big investment plan for the transition to energy. “The sustainability of our group has been a priority in our business plan and model for many years. In fact, the next day the group entered the strategic planning phase long before the first project or even the first investment was realized. Today we see the fruits of the work and years of preparation,” he said, referring to the “green transition” and strategic partnership that the group is entering into.

He concluded by emphasizing that people have been the company’s most important and most valuable asset for more than 50 years. “We don’t have waterproof walls. We give space to our people and trust them. We listen to new ideas. We love innovation. We are a company with a global footprint and presence, but our core, our values ​​are still closely tied to our family philosophy,” he commented characteristically. The General Meeting of Shareholders approved the payment of a general dividend of 1.6 euros per share. As an interim dividend of €0.4 per share has already been granted, the remaining dividend of €1.2 will be reduced on 26 June with a payout date of 3 July.