Petrolina’s first-half net profit more than tripled to €9.94 million in 2026, as the acquisition of eWise Cyprus, formerly ExxonMobil Cyprus, sharply increased revenue and lifted the contribution from associated aviation-fuelling companies.

Net profit for the six months to June 30 rose from around €3m in the corresponding period of 2025, according to the company’s latest interim results.

At the same time, turnover climbed by 56 per cent to €415.5m, with the increase driven mainly by the inclusion of eWise Cyprus in the group following completion of the acquisition on January 30.

Higher international petroleum-product prices also supported revenue during the period.

The acquisition brought the former ExxonMobil Cyprus business, which operates the Esso network in Cyprus, fully into the Petrolina group.

Petrolina says eWise is now a wholly owned subsidiary and an authorised supplier of Esso-branded fuels in Cyprus, operating through a nationwide network of service stations.

The group had already said in June that it expected a substantial improvement in first-half profitability, mainly because eWise’s results would be consolidated from the acquisition date. The accounting effect of the acquisition was also expected to support earnings.

The stronger result additionally reflected an increased contribution from Petrolina’s associated companies involved in aircraft refuelling at Larnaca and Paphos airports.

Petrolina completed the acquisition through its wholly owned subsidiary Med Energywise Ltd, after receiving the required regulatory approvals.

The transaction marked a significant expansion of the group’s position in the Cypriot fuel market, bringing the Esso business alongside Petrolina’s existing operations.

At its annual general meeting in June, Petrolina said the acquisition was part of its broader growth strategy and would provide economies of scale across its supply chain.

The latest first-half figures follow an already sharp improvement in the group’s 2025 results.

For the full year 2025, Petrolina reported turnover of €559.4m, compared with €570.1m in 2024. Profit before tax rose to €8.7m from €3.1m, while profit after tax from continuing operations climbed to €8.3m from €2.7m.

Earnings per share from continuing operations reached 9.49 cents, compared with 3.11 cents a year earlier.

Petrolina’s board met on September 28 to approve the reviewed interim consolidated financial statements for the six months to June 30 and to consider whether to pay a second interim dividend for 2026.

The company had already approved an interim dividend earlier in the year.