The Elinoil Group's turnover for the nine months of 2023 decreased by 33% compared to the same period in 2022, reflecting reduced sales in the International Trade sector and lower oil prices.

In the corresponding announcement, it is revealed that the Group's gross profit increased by 12%. This is attributed to improved margins in International Sales, and the positive contribution of Electric Energy, offsetting the decline in the gross profit of domestic fuel mainly due to the fuel ceiling imposition.

EBITDΑ showed a 3% decrease, primarily due to the positive impact of reserves in 2022 compared to 2023 and an increase in administration and distribution expenses during the same period.

The financial cost of the group decreased to €6.6 million in the nine months from €7.9 million in the corresponding period of 2022. This reduction is attributed to both the decreased oil prices and the reduction in International Trade sales, offsetting the increase in interest on loans and bank borrowing.

The consolidated pre-tax result of the group for the period of January 1 to September 30, 2023, amounted to a profit of €11,016 thousand, compared to a profit of €11,131 thousand in the corresponding period of 2022.