Greek energy and bunkering firm Hellenic Petroleum group posted a 40% jump in adjusted net profit for the financial year (FY) ended December 31, 2017.
The company posted net profit of EUR 372 million ($461.5 million) in FY 2017, higher than net profit of EUR 265 million in FY 2016, according to its financial statement.
It recorded total net sales of EUR 7.99 billion in FY 2017, more than sales of EUR 6.61 billion in the year before.
Net sales of the firm’s aviation and bunkering division was EUR 1.10 billion in FY 2017, higher than sales of EUR 0.80 billion in FY 2016.
It sold 1.15 million metric tonnes (mt) (+11%) of aviation fuel in FY 2017 while bunkering fuel demand increased by 18% to 2.8 million mt.
Hellenic Petroleum owns three out of the four refineries operating in the country, holding approximately 65% of the Greek oil products wholesale market.
Photo credit: Hellenic Petroleum
Published: 8 March, 2018
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