ΝΒG Securities: Τα πρώτα σχόλια των αναλυτών της για το τρίμηνο της Motor Oil

25.05.2016 18:11

Motor Oil <MORr.AT/MOH GA – Outperform>

Comment: Results came in above our expectations.

Sales volumes were up by 7% y/y to 3,058MT.

Inventory losses stood at EUR9m, flat y/y.

Adj. refinery margin came in at USD66.3/MT vs. USD66.6/MT in 1Q15.

Management will host a conference call tomorrow at 17:30 GR time (Tel. nos.: GR 00800 4413 1378, UK 0800 953 0329, US 1866 819 7111).

             
    1Q16 1Q16e Diff 1Q15 Chg. y/y
Parent Level          
Adj. Gross profit 169 142 19% 161 5%
Adj. EBITDA 113 101 12% 95 18%
Adj. Net profit 56 50 13% 45 26%
             
Group Level          
Adj. Gross profit 228 200 14% 218 4%
Adj. EBITDA 127 118 8% 113 12%
Adj. Net profit 57 51 11% 48 18%

 





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