Hellenic Petroleum beats forecasts with Q1 2016 results

EconomyCorporates Tags: Corporates, Results
Photo via http://www.helpe.gr/
Photo via http://www.helpe.gr/

Greece’s largest oil refiner, Hellenic Petroleum, beat forecasts on Wednesday for its Q1 2016 financial results and posted an adjusted EBITDA of 169 million euros, down 17 percent from the same period last year as opposed to the almost 20 percent drop forecast by analysts.

Net income was reported as 32 million euros compared to 17 million euros for Q1 2015. The figure was negatively impacted by the drop in crude oil prices at the start of the year and one-off provisions. Excluding such factors, the adjusted net income for...

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