Motor Oil reports record H1 2026 profits and EBITDA growth

Motor Oil reported record financial results for the first half of 2026, driven by significant growth in refining margins and increased sales volumes. The group's turnover reached €7.524 billion, a 42.89% increase compared to the same period in 2025. EBITDA rose by 170.3% to over €1 billion, while net profits after taxes surged to approximately €689 million, up from €163 million in the previous year.

The performance was bolstered by geopolitical tensions in the Middle East and Ukraine, which enhanced refining margins for products like gasoline and diesel. The company also saw a strong export performance, with international and maritime sales accounting for 78.10% of total volume.

In addition to traditional refining, the group expanded its renewable energy footprint. Installed renewable energy capacity reached 1,020 MW by the end of June, with energy production increasing by 37% to 973,337 MWh. The electrification segment also showed growth, with EBITDA rising to €94 million from €42 million in the prior year.

Regarding shareholder returns, Deputy CEO Petros Tzannetakis indicated that the record profits are expected to lead to increased interim and final dividends, though no extraordinary dividend is planned. The company also addressed the potential extension of fuel discounts at refineries, noting that a decision remains pending.