Lower oil prices affect refiner Motor Oil’s results
Earnings drop. Lower oil prices affected refiner Motor Oil’s results for the first half of 2023. Turnover dropped 25% to €5.9 billion, EBITDA earnings were down 42.6%, to €535.1 million, and after-tax profit declined to €275.4 million from €685.4 million in the first half of 2022. Management said Tuesday they expect improved second-half results.
Lower oil prices affected refiner Motor Oil’s results for the first half of 2023.
Turnover dropped 25% to €5.9 billion, EBITDA earnings were down 42.6%, to €535.1 million, and after-tax profit declined to €275.4 million from €685.4 million in the first half of 2022.
Management said Tuesday they expect improved second-half results.
