Hellenic Petroleum Q1 core profit rises 35 pct

Thursday, May 18th, 2017
Last Update: 12:50
Greece´s biggest oil refiner Hellenic Petroleum posted on Wednesday a 35 percent rise in first-quarter core profit thanks to stronger production capacity and robust demand for heating oil at home.Core profit, or underlying earnings before interest, tax, depreciation and amortisation (EBITDA) - stripping out oil inventory holdings - came in at 229 million euros ($254.46 million), beating analysts average forecast of 216.4 million euros in a Reuters poll.

Net profit rose 80 percent to 126 million euros. Stronger production capacity thanks to the turnaround of one of its three oil refineries boosted results.

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