According to the company, this development is attributed to the increase of the sales volume by 3.78% (from MT 6,793,700 to MT 7,050,310) combined with the increased average prices of petroleum products (denominated in US Dollars) by approximately 3.9% compared with the respective interim period of 2023.
Part of the turnover increase was offset by the marginal devaluation of US Dollar against the Euro (average parity) by 0.06% taking into account that the greatest part of the sales volume of the Parent Company concerns exports invoiced in US Dollars (average exchange rate in the first half of 2024: 1€ = 1.0813 USD compared with 1€ = 1.0807 USD in the first half of 2023).
The increase of the sales volume of the Group in the first half of 2024 compared with the respective interim period of 2023 is attributed to the higher production of the Refinery taking into account that a scheduled turnaround maintenance program was executed in almost all Refinery Units during the period May – July 2023.
In the first half of 2024 the Group had revenues from the provision of services the greater part of which concerns the activities of MOTOR OIL RENEWABLE ENERGY SINGLE MEMBER S.A., NRG S.A., THALIS ENVIRONMENTAL SERVICES SINGLE MEMBER S.A. and OFC AVIATION FUEL SERVICES S.A.
The breakdown of the consolidated sales volume confirms the solid exporting profile of the Group considering that export and bunkering sales combined accounted for 77.68% of the aggregate sales volume of the first half of 2024 compared with 72.30% in the first half of 2023, as well as the high contribution of refining activities (87.24% of the aggregate sales volume of the first half of 2024 compared with 80.13% in the first half of 2023).
In the first half of 2024 the turnover of the Company reached Euro 4,438.3 million compared with Euro 4,063.7 million in the first half of 2023 which represents an increase of 9.22%. This development of the turnover of the Company is attributed to the impact of sales volume increase by 6.02% combined with the increased average prices of petroleum products (denominated in US Dollars) by approximately 3.9% while part of the turnover increase was offset by the marginal devaluation of US Dollar against the Euro (see the analysis of the Group turnover above).
It is clarified that the increased sales volume in the first half of 2024 is attributed to the higher production of the Refinery (the industrial sales volumes were increased by 704,878 MT in the first half of 2024 compared with the corresponding interim period of 2023), considering that a major turnaround maintenance program had been executed during the period May – July 2023 involving almost all Refinery units.
The breakdown of the Company sales volume confirms its solid exporting profile considering that export and bunkering sales combined accounted for 82.40% of the aggregate sales volume in the first half of 2024 compared with 80.27% in the first half of 2023, as well as the high contribution of refining activities (96.44% of the aggregate sales volume in the first half of 2024 compared with 90.46% in the first half of 2023).
