Robust domestic demand and exports increased revenues by 5% qoq to c.€4.2bn. Despite the higher cost of sales, adjusted EBITDA and adjusted net income posted strong results, the latter being 3% higher qoq. In line with the sector trends, refining margins retreated from their record high levels in Q2 FY22 but remained significantly above the benchmark thanks to middle distillate strength and optimized crude slate.
11 Nov 2022
Q3: Great beat and solid profits
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Q3: Great beat and solid profits
- Published:
11 Nov 2022 -
Author:
Elif Binici -
Pages:
3
Robust domestic demand and exports increased revenues by 5% qoq to c.€4.2bn. Despite the higher cost of sales, adjusted EBITDA and adjusted net income posted strong results, the latter being 3% higher qoq. In line with the sector trends, refining margins retreated from their record high levels in Q2 FY22 but remained significantly above the benchmark thanks to middle distillate strength and optimized crude slate.