Hellenic Petroleum Group on Tuesday said it will distribute a pre-dividend worth 0.25 euro per share in January 2020 after the company announced a significant increase in its operating profits in the third quarter of 2019, along with lower financial cost and high production volume despite maintenance works in the Aspropyrgos refinery, ANA reports.
Andreas Shiamishis, Group CEO, commented on the results: “Improved third-quarter 2019 results, the strongest of last 3 quarters, are particularly encouraging, on the back of a material improvement in the environment. We are operating in a highly cyclical industry, without the ability to influence international developments. As a result, it is important to focus on issues we can control through strategic direction, managing and operating our business units and improving competitiveness.”
Hellenic Petroleum Group said its adjusted EBITDA came in at 201 million euros, a notable improvement vs last quarters, while Adjusted Net Income amounted to 90 million. Higher total production, at 4.3 million MT and good operations at refining units, despite end of run performance ahead of scheduled shut-downs and IMO test runs, resulted in sales exceeding 4 million MT.
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