Motor Oil Group reports nearly one billion euros in after-tax profits for 2022

Motor Oil Group on Tuesday reported a significant increase in 2022 results, with turnover up by 61.9 percent, or 16.6 billion euros in absolute terms, up from 10.2 billion euros in 2021.

Operating earnings soared 308 percent to 1.39 billion euros from 341 million euros in 2021 and pre-tax earnings rose to 1.55 billion from 258 million euros. After-tax profits surged to 967.2 million euros, up from 202.3 million in the previous year.

The management will seek shareholders’ approval to pay a 1.6-euro per share dividend to shareholders. Motor Oil has already distributed a pre-dividend of 0.40 euro per share.