Q3 results: revenues were €2.0bn (-20% yoy), comparable EBITDA was €215m (€19m in Q3 14), above consensus of €203m. By division: 1) Refining's comparable EBITDA was €155m (vs. -€43m in Q3 14), above consensus of €142m. The EMC benchmark margin was $4.8/bbl (vs. $0.3/bbl in Q3 14 and $4.1/bbl in Q2 15). The refinery run rate was 26.8mbbl (+28% yoy) in the quarter. Saras’ additional margin was $3.8/bbl (vs. $0.2/bbl in Q3 14 and $6.4/bbl in Q2 15); 2) Ma
09 Nov 2015
Q3 refining beats consensus again; outlook confirmed
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Q3 refining beats consensus again; outlook confirmed
SARAS S.p.A. - Raffinerie Sarde (S7A:FRA) | 0 0 0.4% | Mkt Cap: 1,544m
- Published:
09 Nov 2015 -
Author:
Marzio Foa -
Pages:
2
Q3 results: revenues were €2.0bn (-20% yoy), comparable EBITDA was €215m (€19m in Q3 14), above consensus of €203m. By division: 1) Refining's comparable EBITDA was €155m (vs. -€43m in Q3 14), above consensus of €142m. The EMC benchmark margin was $4.8/bbl (vs. $0.3/bbl in Q3 14 and $4.1/bbl in Q2 15). The refinery run rate was 26.8mbbl (+28% yoy) in the quarter. Saras’ additional margin was $3.8/bbl (vs. $0.2/bbl in Q3 14 and $6.4/bbl in Q2 15); 2) Ma