ECONOMY

Motor Oil unveils H1 results

motor-oil-unveils-h1-results

Refiner Motor Oil posted improved sales and operating profit in the first half of 2021.

The group announced operating EBITDA profit of €251 million, from a loss of €63 million in the first half of 2020. Sales rose to €4.156 billion, from €2.833 billion last year. In the second quarter alone, sales were €2.27 billion from €1.19 billion in 2020. 

Net profits were €121.12 million compared to a loss of €150.58 million during the same period in 2020. 

For the first half, exports of refining fuels, refinery products and other fuels amounted to 5,501,768 metric tons, a 28.03% increase from 2020. But domestic sales declined 15.78% to 1,412,901 metric tons. Bunkering, the supplying of fuel to ships, was also down, 24.14% to 298,541 metric tons. Overall sales increased 13.26%, to 7,213,211 metric tons.