Motor Oil recorded a net profit of €224 million euros in the 9-month period at Group level, compared to €716.7 million euros in the corresponding period last year. Turnover was €9.37 billion, up from €9.97 billion in 9M 2023.

As for the third quarter, the group recorded a loss of €137.9 million, compared to a profit of €441.3 million in the third quarter of 2023. Turnover was €3.13 billion, down from €4.04 billion in the same period last year. The group has a provision for a temporary solidarity contribution of EUR 255.424 million, which is charged to the results.

With regard to the fire on 17 September 2024 at the site of the refining units of the company's southern refinery in Agioi Theodoroi, from causes as yet unknown, the statements note that the fire has caused damage to fixed assets, which must be determined (an impairment indicator). At present, it is not possible to determine precisely the size of the loss and the recoverable value of the cash-generating unit.

The company's management continues to assess the impact and will provide updates in subsequent financial statements when sufficient information is available to estimate the loss. The company is insured for damage to its facilities and loss of operating profits due to business interruption in accordance with normal practice. To date, the compensation expected to be received from the insurance has not been recognised in the financial statements, as not all recognition criteria under IFRS have been met.

Currently, remediation work is being carried out at CDU, with an initial estimate of completion within Q3 2025. Until the work is completed, an alternative operating scheme using fuels such as fuel oil, naphtha, and VGO (vacuum gas) instead of crude oil has been implemented to mitigate the impact. During rehabilitation, the production capacity will be between 65% and 80% of the total nominal capacity.

At the same time, the Group is updating its Energy Transition Strategy, according to which it has already taken significant steps to become a leading player in the "green" transition in SE Europe. Indicatively, it has already invested more than EUR 1.8 billion in RES, with a portfolio of 839 MW. The aim is to increase this portfolio to 2 GW in 2030, with investments exceeding 4 billion.