Hellenic Petroleum announced earnings results for the third quarter and nine months of 2017. Adjusted EBITDA for the third quarter of the year is at EUR 206 million, increased by 8% as compared to last year. Third quarter of year adjusted net income came at EUR 89 million, at plus 19%. IFRS reported net income at EUR 106 million, at plus 32%. In terms of capital expenditure, it had a slight increase in the quarter. The boost of adjusted EBITDA due to benchmark margins and the slightly weaker dollar, which takes a little bit out of the shine of the results.

For the nine months, adjusted EBITDA reached EUR 663 million, plus 28%. Adjusted net income came at EUR 315 million, plus 71%.

Capital expenditure for the full year at around EUR 140 million. This is slightly higher than last year and normal run rate. The reason for this is the acquisition of a plot of land next to Elefsina refinery, which is, an important piece of property for ensuring that the refinery is able to operate without any problems and consider any further plans as well, and also the shutdown, which took place in 2017 compared to 2018. It expects effective tax rate of 30%.