Motor Oil sees earnings jump in Q1

Motor Oil on Monday reported a significant improvement in its first-quarter performance in comparison with the same period in 2021.

Its earnings before interest, tax, depreciation and amortization (EBITDA) totaled 318 million euros in the January-March period, up from €82 million in the fourth quarter of 2021 and €120 million in the corresponding period last year.

On a comparable basis, operating earnings totaled €189 million, up from €72 million in the fourth quarter of 2021 and €80 million in the first quarter of 2021.

Net profits jumped to €197 million in the first quarter of 2022 from €65 million in the same period last year.