Elinoil's net profit in 2023 was €6.5 million, up from €12 million a year earlier, according to the listed company's financial statements.

In the same period, operating profit amounted to €26.2 million, down from €33.1 million in the previous fiscal year.

The listed company's revenue amounted to €2.48 billion, down from €3.78 billion in fiscal 2022.

At Group level, in 2023 ELIN Technical Mon. returned to positive results with marginal profitability, which is due to the growth of its customer base and the increase in gross profit due to improved contract terms, while other operating expenses showed a slight decrease. ELIN Shipping Ltd, recorded a loss due to two extended tankers which resulted in lower freight rates. Finally, ELIN Stations S.A.'s results were further burdened in 2023 due to the imposition of the cap on gross margin on fuel and increased investments in new sales outlets.

Overall, in 2023, the international economic environment, as the listed company notes, was characterised by an intense volatility, which created a great instability in the energy market, with the decisive factors being the continuation of the war in Ukraine, the EU sanctions on Russia and the crisis in the Middle East. These factors, combined with sluggish global growth that limited demand, led to a 10% drop in international oil prices.