Revoil recovery continues with 2.37m-euro EBITDA in first quarter

Greek fuel and lubricants trading company Revoil has returned to profit territory, reporting a pretax first-quarter profit of 425,700 euros, following a loss of 64, 420 euros incurred during the same period last year.

The results extend the upward trajectory of the company’s financial performance, a recovery process that began in the second half of 2013, amid the country’s ongoing deep recession.

The group’s EBITDA figure reached 2.37 million euros in the first quarter from 1.9 million euros in the first quarter of 2014.

Total group turnover reached 179.2 million euros in the first quarter, down from 191.9 million euros in last year’s first quarter, a decline attributed to the major oil price decrease in the international market, despite double-digit volume sales growth achieved by the company.

Group sales, in terms of volume, for diesel, auto fuel, and heating fuel for the first quarter in 2015 reached 215.76 million liters, up from 173.61 million liters during the equivalent period in 2014, a 24.3 percent increase.

A 1.91 million-euro contribution to the group’s total turnover figure was generated by company activity in the shipping sector, through its fully-owned subsidiary firm Ariston.

The group’s gross profit reached 6.35 million euros in the first quarter from 5.40 million euros in the first quarter last year.