Motor Oil financial performance

Motor Oil reported record financial results for the first half of 2026, characterized by significant growth in refining margins and sales volumes. The Group’s turnover reached €7.524 billion, representing a 42.89% increase compared to the €5.266 billion recorded during the same period in 2025.

EBITDA rose by 170.3% to over €1 billion, up from €387 million in the previous year. Net profits after taxes surged to approximately €689 million, compared to €163 million in H1 2025. The company attributed this performance to the full recovery of refinery production capacity and increased refining margins for gasoline and diesel, influenced by geopolitical tensions in the Middle East and Ukraine. International and maritime sales were a significant driver, accounting for 78.10% of total volume.

The company also expanded its renewable energy footprint, reaching an installed capacity of 1,020 MW by the end of June, with energy production increasing by 37% to 973,337 MWh. The electrification segment also saw 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. Additionally, the company noted that a decision remains pending regarding the potential extension of fuel discounts at refineries.