Hellenic Petroleum sees 2018 EBITDA topping 1 billion euros, CEO says

Core profit at Hellenic Petroleum, Greece's biggest oil refiner, is expected to top 1 billion euros ($1.2 billion) this year, the company's chief executive said on Sunday.

Core profit, or earnings before interest, tax, depreciation and amortization (EBITDA), including oil inventory holdings, came in at 851 million euros last year.

"In 2018 ... reported annual EBITDA will exceed 1 billion euros," CEO Efstathios Tsotsoros said in an interview with the semi-official Athens News Agency.

He added this would be feasible based on January-August results and on condition there is no labor unrest or any major change in the international environment.

Hellenic on Thursday posted a 25 percent rise in first-half EBITDA, including oil inventory holdings, at 473 million euros, and said it expected stronger financial results in the third quarter thanks to higher...