Declared Dividend • Jun 21
Dividend of €1.43 announced Shareholders will receive a dividend of €1.43. Ex-date: 26th June 2026 Payment date: 3rd July 2026 Dividend yield will be 4.8%, which is higher than the industry average of 3.1%. Sustainability & Growth Dividend is well covered by both earnings (21% earnings payout ratio) and cash flows (22% cash payout ratio). The dividend has increased by an average of 19% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 51% over the next 3 years. However, it would need to fall by 76% to increase the payout ratio to a potentially unsustainable range. Reported Earnings • May 28
First quarter 2026 earnings released: EPS: €3.07 (vs €0.78 in 1Q 2025) First quarter 2026 results: EPS: €3.07 (up from €0.78 in 1Q 2025). Revenue: €3.36b (up 25% from 1Q 2025). Net income: €332.2m (up 293% from 1Q 2025). Profit margin: 9.9% (up from 3.2% in 1Q 2025). Revenue is expected to decline by 2.3% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Germany are expected to grow by 6.7%. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Board Change • May 20
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 7 non-independent directors. Independent Non-Executive Director Ourania Ekaterinari was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Duyuru • May 16
Motor Oil (Hellas) Corinth Refineries S.A. to Report Q1, 2026 Results on May 27, 2026 Motor Oil (Hellas) Corinth Refineries S.A. announced that they will report Q1, 2026 results After-Market on May 27, 2026 Duyuru • Nov 04
Motor Oil (Hellas) Corinth Refineries S.A. to Report Nine Months, 2025 Results on Nov 19, 2025 Motor Oil (Hellas) Corinth Refineries S.A. announced that they will report nine months, 2025 results on Nov 19, 2025 Duyuru • May 16
Motor Oil (Hellas) Corinth Refineries S.A. to Report Q1, 2025 Results on May 26, 2025 Motor Oil (Hellas) Corinth Refineries S.A. announced that they will report Q1, 2025 results After-Market on May 26, 2025 Duyuru • Mar 15
Motor Oil (Hellas) Corinth Refineries S.A., Annual General Meeting, Jun 18, 2025 Motor Oil (Hellas) Corinth Refineries S.A., Annual General Meeting, Jun 18, 2025. Board Change • Dec 30
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 7 non-independent directors. Independent Non-Executive Director Ourania Ekaterinari was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Duyuru • Nov 07
Motor Oil (Hellas) Corinth Refineries S.A. to Report Nine Months, 2024 Results on Nov 20, 2024 Motor Oil (Hellas) Corinth Refineries S.A. announced that they will report nine months, 2024 results on Nov 20, 2024 Declared Dividend • Nov 01
First half dividend of €0.30 announced Shareholders will receive a dividend of €0.30. Ex-date: 23rd December 2024 Payment date: 3rd January 2025 Dividend yield will be 9.0%, which is higher than the industry average of 3.1%. Sustainability & Growth Dividend is covered by both earnings (17% earnings payout ratio) and cash flows (64% cash payout ratio). The dividend has increased by an average of 25% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 81% over the next 3 years. A fall of 81% would increase the payout ratio to a potentially unsustainable range, which means the dividend may be at risk. Reported Earnings • Aug 29
Second quarter 2024 earnings released: EPS: €1.56 (vs €0.36 in 2Q 2023) Second quarter 2024 results: EPS: €1.56 (up from €0.36 in 2Q 2023). Revenue: €3.26b (up 24% from 2Q 2023). Net income: €168.3m (up 332% from 2Q 2023). Profit margin: 5.2% (up from 1.5% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is expected to fall by 4.5% p.a. on average during the next 3 years compared to a 1.0% decline forecast for the Oil and Gas industry in Europe. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Duyuru • Aug 14
Motor Oil (Hellas) Corinth Refineries S.A. to Report First Half, 2024 Results on Aug 28, 2024 Motor Oil (Hellas) Corinth Refineries S.A. announced that they will report first half, 2024 results on Aug 28, 2024 Declared Dividend • Jun 21
Dividend of €1.43 announced Shareholders will receive a dividend of €1.43. Ex-date: 26th June 2024 Payment date: 3rd July 2024 Dividend yield will be 7.3%, which is higher than the industry average of 3.1%. Sustainability & Growth Dividend is covered by earnings (26% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 25% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 58% over the next 3 years. However, it would need to fall by 71% to increase the payout ratio to a potentially unsustainable range. Reported Earnings • May 29
First quarter 2024 earnings released: EPS: €1.76 (vs €2.19 in 1Q 2023) First quarter 2024 results: EPS: €1.76 (down from €2.19 in 1Q 2023). Revenue: €2.98b (down 9.9% from 1Q 2023). Net income: €190.7m (down 20% from 1Q 2023). Profit margin: 6.4% (down from 7.2% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to decline by 2.3% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Germany are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Duyuru • May 16
Motor Oil (Hellas) Corinth Refineries S.A. to Report Q1, 2024 Results on May 28, 2024 Motor Oil (Hellas) Corinth Refineries S.A. announced that they will report Q1, 2024 results on May 28, 2024 Reported Earnings • Apr 05
Full year 2023 earnings released: EPS: €7.43 (vs €8.82 in FY 2022) Full year 2023 results: EPS: €7.43 (down from €8.82 in FY 2022). Revenue: €13.3b (down 20% from FY 2022). Net income: €805.7m (down 17% from FY 2022). Profit margin: 6.1% (up from 5.8% in FY 2022). The increase in margin was driven by lower expenses. Revenue is expected to decline by 2.8% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Germany are expected to grow by 1.2%. Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. Duyuru • Apr 01
Motor Oil (Hellas) Corinth Refineries S.A. to Report Fiscal Year 2023 Results on Apr 03, 2024 Motor Oil (Hellas) Corinth Refineries S.A. announced that they will report fiscal year 2023 results on Apr 03, 2024 Buy Or Sell Opportunity • Feb 23
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 17% to €27.32. The fair value is estimated to be €22.61, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 33% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 3.3% per annum. Earnings are also forecast to decline by 21% per annum over the same time period. Buy Or Sell Opportunity • Feb 09
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 23% to €27.18. The fair value is estimated to be €22.60, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 33% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 3.4% per annum. Earnings are also forecast to decline by 21% per annum over the same time period. Duyuru • Jan 01
Motor Oil (Hellas) Corinth Refineries S.A., Annual General Meeting, Jan 24, 2024 Motor Oil (Hellas) Corinth Refineries S.A., Annual General Meeting, Jan 24, 2024, at 10:00 E. Europe Standard Time. Location: NJV Athens Plaza Hotel 2 Vassileos Georgiou A Street, Zip Code 105 64, Syntagma Square Athens Greece Upcoming Dividend • Dec 11
Upcoming dividend of €0.40 per share at 6.5% yield Eligible shareholders must have bought the stock before 18 December 2023. Payment date: 22 December 2023. Payout ratio is a comfortable 26% and this is well supported by cash flows. Trailing yield: 6.5%. Within top quartile of German dividend payers (5.2%). Higher than average of industry peers (3.0%). Reported Earnings • Nov 23
Third quarter 2023 earnings released: EPS: €4.06 (vs €2.92 in 3Q 2022) Third quarter 2023 results: EPS: €4.06 (up from €2.92 in 3Q 2022). Revenue: €4.04b (down 15% from 3Q 2022). Net income: €440.9m (up 37% from 3Q 2022). Profit margin: 11% (up from 6.7% in 3Q 2022). The increase in margin was driven by lower expenses. Revenue is expected to decline by 6.0% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Germany are expected to grow by 3.9%. Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. Duyuru • Nov 08
Motor Oil (Hellas) Corinth Refineries S.A. to Report Nine Months, 2023 Results on Nov 21, 2023 Motor Oil (Hellas) Corinth Refineries S.A. announced that they will report nine months, 2023 results on Nov 21, 2023 Reported Earnings • Aug 30
Second quarter 2023 earnings released: EPS: €0.36 (vs €4.44 in 2Q 2022) Second quarter 2023 results: EPS: €0.36 (down from €4.44 in 2Q 2022). Revenue: €2.62b (down 44% from 2Q 2022). Net income: €39.0m (down 92% from 2Q 2022). Profit margin: 1.5% (down from 11% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to decline by 6.0% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Germany are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 92% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth. Duyuru • Aug 19
Motor Oil (Hellas) Corinth Refineries S.A. to Report First Half, 2023 Results on Aug 29, 2023 Motor Oil (Hellas) Corinth Refineries S.A. announced that they will report first half, 2023 results on Aug 29, 2023 Upcoming Dividend • Jun 19
Upcoming dividend of €1.20 per share at 6.5% yield Eligible shareholders must have bought the stock before 26 June 2023. Payment date: 03 July 2023. Payout ratio is a comfortable 17% and this is well supported by cash flows. Trailing yield: 6.5%. Within top quartile of German dividend payers (4.6%). Higher than average of industry peers (2.2%). Duyuru • Jun 01
Motor Oil (Hellas) Corinth Refineries S.A., Annual General Meeting, Jun 07, 2023 Motor Oil (Hellas) Corinth Refineries S.A., Annual General Meeting, Jun 07, 2023, at 07:00 Coordinated Universal Time. Location: NJV Athens Plaza Hotel, 2 Vassileos Georgiou A Street, Zip Code 105 64, Syntagma Square, Athens Athens Greece Reported Earnings • May 31
First quarter 2023 earnings released: EPS: €2.19 (vs €1.79 in 1Q 2022) First quarter 2023 results: EPS: €2.19 (up from €1.79 in 1Q 2022). Revenue: €3.31b (up 1.5% from 1Q 2022). Net income: €237.4m (up 20% from 1Q 2022). Profit margin: 7.2% (up from 6.1% in 1Q 2022). Revenue is expected to decline by 4.3% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Germany are expected to grow by 3.2%. Over the last 3 years on average, earnings per share has increased by 107% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Mar 16
Now 20% undervalued Over the last 90 days, the stock is up 8.6%. The fair value is estimated to be €28.55, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 87%. Revenue is forecast to grow by 0.4% in 2 years. Earnings is forecast to decline by 50% in the next 2 years. Duyuru • Dec 14
Motor Oil (Hellas) Corinth Refineries S.A. (ATSE:MOH) completed the acquisition of Elin Verd S.A. Motor Oil (Hellas) Corinth Refineries S.A. (ATSE:MOH) entered into an Sale and Purchase Agreement to acquire all Elin Verd S.A. for €15.4 million on August 30, 2022.
Motor Oil (Hellas) Corinth Refineries S.A. (ATSE:MOH) completed the acquisition of Elin Verd S.A. on December 12, 2022. Reported Earnings • Nov 24
Third quarter 2022 earnings released: EPS: €2.92 (vs €0.76 in 3Q 2021) Third quarter 2022 results: EPS: €2.92 (up from €0.76 in 3Q 2021). Revenue: €4.77b (up 60% from 3Q 2021). Net income: €321.3m (up 280% from 3Q 2021). Profit margin: 6.7% (up from 2.8% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is expected to decline by 3.8% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Germany are expected to grow by 4.2%. Over the last 3 years on average, earnings per share has increased by 86% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 7 non-independent directors. Independent Non-Executive Director Rania Ekaterinari was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Duyuru • Nov 09
Motor Oil (Hellas) Corinth Refineries S.A. to Report Nine Months, 2022 Results on Nov 23, 2022 Motor Oil (Hellas) Corinth Refineries S.A. announced that they will report nine months, 2022 results on Nov 23, 2022 Reported Earnings • Sep 01
Second quarter 2022 earnings released: EPS: €4.44 (vs €0.51 in 2Q 2021) Second quarter 2022 results: EPS: €4.44 (up from €0.51 in 2Q 2021). Revenue: €4.64b (up 105% from 2Q 2021). Net income: €488.5m (up €432.5m from 2Q 2021). Profit margin: 11% (up from 2.5% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 16%, compared to a 41% growth forecast for the Oil and Gas industry in Germany. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Duyuru • Aug 31
Motor Oil (Hellas) Corinth Refineries S.A. (ATSE:MOH) entered into an Sale and Purchase Agreement to acquire all of the share of Elin Verd S.A for EUR 15.4 million. Motor Oil (Hellas) Corinth Refineries S.A. (ATSE:MOH) entered into an Sale and Purchase Agreement to acquire all of the share of Elin Verd S.A. for EUR 15.4 million on August 30, 2022. Duyuru • Aug 19
Motor Oil (Hellas) Corinth Refineries S.A. to Report Q2, 2022 Results on Aug 30, 2022 Motor Oil (Hellas) Corinth Refineries S.A. announced that they will report Q2, 2022 results on Aug 30, 2022 Reported Earnings • Jun 08
First quarter 2022 earnings released First quarter 2022 results: Revenue: €3.26b (up 73% from 1Q 2021). Net income: €197.4m (up 205% from 1Q 2021). Profit margin: 6.1% (up from 3.4% in 1Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 17%, compared to a 52% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 9 non-independent directors. Independent Non-Executive Director Rania Ekaterinari was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 14
Full year 2021 earnings released: EPS: €1.83 (vs €1.00 loss in FY 2020) Full year 2021 results: EPS: €1.83 (up from €1.00 loss in FY 2020). Revenue: €10.3b (up 68% from FY 2020). Net income: €201.8m (up €312.4m from FY 2020). Profit margin: 2.0% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Over the next year, revenue is forecast to grow 5.8%, compared to a 38% growth forecast for the oil industry in Germany. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Reported Earnings • Nov 25
Third quarter 2021 earnings: EPS in line with analyst expectations despite revenue beat Third quarter 2021 results: EPS: €0.76 (up from €0.43 in 3Q 2020). Revenue: €2.99b (up 82% from 3Q 2020). Net income: €84.5m (up 77% from 3Q 2020). Profit margin: 2.8% (down from 2.9% in 3Q 2020). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 25%. Over the next year, revenue is expected to shrink by 1.1% compared to a 60% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Reported Earnings • Sep 01
Second quarter 2021 earnings released The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €2.27b (up 92% from 2Q 2020). Net income: €55.9m (up €109.7m from 2Q 2020). Profit margin: 2.5% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 79 percentage points per year, which is a significant difference in performance. Reported Earnings • Jun 16
First quarter 2021 earnings released: EPS €0.58 (vs €0.87 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: €1.89b (up 14% from 1Q 2020). Net income: €64.8m (up €160.9m from 1Q 2020). Profit margin: 3.4% (up from net loss in 1Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 69 percentage points per year, which is a significant difference in performance. Duyuru • May 22
Motor Oil (Hellas) Corinth Refineries S.A. (ATSE:MOH) acquired 240-MW wind farm bundle in Greece for approximately €120 million. Motor Oil (Hellas) Corinth Refineries S.A. (ATSE:MOH) acquired 240-MW wind farm bundle in Greece for approximately €120 million on May 21, 2021. The specific portfolio consists of 12 wind farms, of which 11 with a combined capacity of 220 MW are already in operation and another one of 20 MW is under construction. Most of them are located in central and northern continental Greece.
Motor Oil (Hellas) Corinth Refineries S.A. (ATSE:MOH) completed the acquisition of 240-MW wind farm bundle in Greece on May 21, 2021. Reported Earnings • Apr 24
Full year 2020 earnings released: €1.00 loss per share (vs €2.06 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: €6.12b (down 35% from FY 2019). Net loss: €110.6m (down 149% from profit in FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 61 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 02
Third quarter 2020 earnings released: EPS €0.43 (vs €0.53 in 3Q 2019) The company reported a soft third quarter result with weaker earnings and revenues, although profit margins were improved. Third quarter 2020 results: Revenue: €1.64b (down 34% from 3Q 2019). Net income: €47.7m (down 20% from 3Q 2019). Profit margin: 2.9% (up from 2.4% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Analyst Estimate Surprise Post Earnings • Mar 02
Revenue misses expectations Revenue missed analyst estimates by 5.6%. Over the next year, revenue is forecast to stay flat compared to a 30% growth forecast for the Oil and Gas industry in Germany. Is New 90 Day High Low • Jan 08
New 90-day high: €12.72 The company is up 27% from its price of €9.99 on 09 October 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Oil and Gas industry, which is up 35% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €12.44 per share. Is New 90 Day High Low • Dec 05
New 90-day high: €11.67 The company is up 1.0% from its price of €11.57 on 04 September 2020. The German market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Oil and Gas industry, which is up 43% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €9.74 per share. Analyst Estimate Surprise Post Earnings • Nov 26
Revenue misses expectations Revenue missed analyst estimates by 5.6%. Over the next year, revenue is forecast to grow 1.8%, compared to a 12% growth forecast for the Oil and Gas industry in Germany. Reported Earnings • Nov 26
Third quarter 2020 earnings released: EPS €0.43 The company reported a soft third quarter result with weaker earnings and revenues, although profit margins were improved. Third quarter 2020 results: Revenue: €1.64b (down 34% from 3Q 2019). Net income: €47.7m (down 20% from 3Q 2019). Profit margin: 2.9% (up from 2.4% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Oct 24
New 90-day low: €8.46 The company is down 28% from its price of €11.75 on 24 July 2020. The German market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Oil and Gas industry, which is up 43% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €12.46 per share. Is New 90 Day High Low • Sep 30
New 90-day low: €9.75 The company is down 24% from its price of €12.90 on 02 July 2020. The German market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Oil and Gas industry, which is up 53% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €13.75 per share. Duyuru • Sep 30
Motor Oil (Hellas) Corinth Refineries S.A. to Report Q2, 2020 Results on Sep 02, 2020 Motor Oil (Hellas) Corinth Refineries S.A. announced that they will report Q2, 2020 results on Sep 02, 2020 
