In the context of the annual briefing to analysts, the Company proceeded with a presentation at the Association of Greek Institutional Investors presenting its activities and key financial results as well as its corporate objectives and development strategy.
In the previous year, as a result of the completion of the "Hydrocracker" project, MOTOR OIL established itself both domestically and internationally as one of the most modern European refineries.
Following the doubling of its free float in 2005, the Company''s shareholder base was further enhanced after a very successful placement which took place in March 2006.
During 2006, high volatility was observed with regard to the international refinery margins.
The Company consistent in its policy towards the shareholders for the maximization of the dividend yield will propose the distribution of a dividend amount of Euro 1.15 per share (DPS) for the financial year 2006.
MOTOR OIL continued selling its products in its 3 main markets: Domestic, Export and Bunkering.
The turnover of the parent company for 2006 amounted to Euro 3,629 million compared to Euro 2,924 million for 2005.
The sales in volume increased for yet another year and totalled 8.4 million metric tons compared to 7.6 million metric tons in 2005.
Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) for 2006 reached Euro 258.6 million compared to Euro 218.7 million in 2005.
Earnings before Tax (EBT) for 2006 amounted to Euro 189.6 million compared to Euro 188.5 million in 2005.
Earnings after Tax (EAT) for 2006, without taking into account the Euro 10.2 million previous years'' additional tax charge, amounted to Euro 137.7 million compared to Euro 130.7 million for 2005, or Euro 1.24 and Euro 1.15 per share (EPS) respectively. The reported Earnings, after taking into account the previous years'' additional tax charge, amounted to Euro 127.6 million.