Hellenic Petroleum (ELPE) has posted a 26 percent comparable EBITDA profit increase to 79 million euros for the second quarter.
ELPE’s net profit reached 54 million euros in the second quarter and 206 million euros in the first quarter, while the EBITDA figure was 133 million euros, a 76 percent year-on-year increase.
The market’s gradual market recovery has led to a slight improvement in international market conditions.
An operating profit increase at ELPE was primarily attributed to a record high in the petrochemical sector, where the reduced global availability of polypropylene led to very high international margins.
A rebound in international oil prices for yet another quarter, positively impacted the company’s stock valuation and published results.