Motor Oil sees earnings jump in 2022

Motor Oil sees earnings jump in 2022

Athens-listed Motor Oil Group on Tuesday reported significant growth in its 2022 results, with turnover rising by 61.9% to 16.6 billion euros from €10.2 billion in 2021.

Operating earnings soared 308% to €1.39 billion from €341 million in 2021 and pre-tax earnings jumped to €1.55 billion from €258 million.

After-tax profits jumped to €967.2 million from €202.3 million in the previous year.

The management will seek shareholders’ approval on a plan to pay a €1.6 per share dividend to shareholders.

Motor Oil has already distributed a pre-dividend of €0.40 per share.

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