HELLENiQ ENERGY Holdings SA
ATHEX:ELPE
HELLENiQ ENERGY Holdings SA
HELLENiQ ENERGY Holdings SA, formerly known as Hellenic Petroleum, is a significant entity in the energy sector, with a deep-rooted presence in Southeast Europe. Originally established by merging Greece's public refineries, the company embarked on a journey of transformation that saw it diversifying beyond its initial foundation. Operating through a meticulously structured value chain, HELLENiQ ENERGY ensures its robust engagement in oil refining, trading, exploration, and production. Its refining operations are anchored by a trio of state-of-the-art refineries in Greece, which function as the beating heart of its operations. These refineries are capable of processing a variety of crude types, catering to both domestic needs and export markets. Through strategic partnerships and logistical investments, the company has adeptly positioned itself in the regional trading landscape, efficiently circulating petroleum products across Europe and maintaining economic resilience even in a volatile market.
Beyond the traditional realm of refining, HELLENiQ ENERGY has been steering towards the future by embracing renewable energy initiatives. Recognizing the global shifts in energy demand and the pressing need for sustainability, it has been expanding its portfolio to include solar, wind, and hydrogen projects. In conjunction with its exploration and production ventures - where it delves into opportunities both within Greece and abroad - these initiatives underscore its commitment to long-term growth and sustainable development. This foray into the renewable sector not only positions HELLENiQ ENERGY as a forward-thinking player in the energy transition but also diversifies its income streams, mitigating the risks associated with dependency on fossil fuels. By leveraging its historical strengths and embracing modern energy solutions, HELLENiQ ENERGY navigates the complexities of contemporary energy markets, striving to balance profitability with ecological responsibility.
HELLENiQ ENERGY Holdings SA, formerly known as Hellenic Petroleum, is a significant entity in the energy sector, with a deep-rooted presence in Southeast Europe. Originally established by merging Greece's public refineries, the company embarked on a journey of transformation that saw it diversifying beyond its initial foundation. Operating through a meticulously structured value chain, HELLENiQ ENERGY ensures its robust engagement in oil refining, trading, exploration, and production. Its refining operations are anchored by a trio of state-of-the-art refineries in Greece, which function as the beating heart of its operations. These refineries are capable of processing a variety of crude types, catering to both domestic needs and export markets. Through strategic partnerships and logistical investments, the company has adeptly positioned itself in the regional trading landscape, efficiently circulating petroleum products across Europe and maintaining economic resilience even in a volatile market.
Beyond the traditional realm of refining, HELLENiQ ENERGY has been steering towards the future by embracing renewable energy initiatives. Recognizing the global shifts in energy demand and the pressing need for sustainability, it has been expanding its portfolio to include solar, wind, and hydrogen projects. In conjunction with its exploration and production ventures - where it delves into opportunities both within Greece and abroad - these initiatives underscore its commitment to long-term growth and sustainable development. This foray into the renewable sector not only positions HELLENiQ ENERGY as a forward-thinking player in the energy transition but also diversifies its income streams, mitigating the risks associated with dependency on fossil fuels. By leveraging its historical strengths and embracing modern energy solutions, HELLENiQ ENERGY navigates the complexities of contemporary energy markets, striving to balance profitability with ecological responsibility.
Strong Results: HELLENiQ ENERGY reported a very strong third quarter and nine months, with adjusted EBITDA of EUR 365 million for Q3 and nearly EUR 0.75 billion year-to-date.
Refining Margins: The refining business benefited from high margins driven by supply shortages and strong demand in Greece and the region; record production and sales volumes were achieved.
Enerwave Consolidation: The quarter saw full consolidation of Enerwave (formerly ELPEDISON), boosting power generation numbers and adding to the group's green utility ambitions.
Interim Dividend: The company announced a flat interim dividend of EUR 0.20 per share, matching last year’s payout.
Positive Outlook: Management expects continued strength in Q4, with strong refining conditions, steady demand, and further benefits from new trading operations and network improvements.
Strategic Progress: Major steps were made in upstream (including agreements with Exxon and Chevron), expansion of the green utility segment, and ongoing growth in renewables capacity.
Financial Stability: Net debt is at EUR 2.5 billion, mainly due to one-off events like acquisitions and impacts from supply chain disruptions, but cash flows remain solid.
Guidance: The company is on track to exceed EUR 1 billion in adjusted EBITDA for the year, continuing a trend for the fourth consecutive year.
