Hellenic Petroleum Announces Earnings Results for the Third Quarter and Nine Months of 2017; Provides Capital Expenditure and Tax Rate Guidance for the Full Year 2017
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%.