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Hellenic Petroleum Q2 Core Profit Drops 18%

Posted by August 30, 2018

Photo: Hellenic Petroleum

Hellenic Petroleum, Greece's biggest oil refiner, reported on Thursday a 18 percent drop in second-quarter core profit, hurt by lower refining margins and a stronger euro.

The refiner said earnings before interest, tax, depreciation and amortisation (EBITDA), adjusted for oil inventory holdings, came in at 187 million euros ($218.04 million) in April to June, down from 228 million euros in the same period a year earlier.

Reporting by Angeliki Koutantou

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