ELPE recorded net profit of 32 million euros in the first quarter – Greece, 12 May 2016

Greek Hellenic Petroleum (ELPE) has posted a net profit of 32 million euros in the first quarter of 2016 despite low international crude oil prices and decreasing demand in the local market. This year’s result is significantly better than the one posted in the first quarter of 2015, when net profit amounted to 17 million euros.
The company’s earnings before interest, taxes, depreciation and amortization (EBITDA) reached 169 million euros at the end of the first quarter, compared to 205 million euros in the same period last year.

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