The promise for the distribution of a high dividend in 2022, which will concern the fiscal year 2021, was given by the CEO of Hellenic Petroleum, Andreas Siamisis, during yesterday’s teleconference with analysts.
The high-ranking executive of the group was asked whether the listed company will follow the same strategy with that of DESFA with the revenues from the sale of DEPA Infrastructure. He replied that he will actually distribute 50% of the revenues corresponding to Hellenic Petroleum to company shareholders and therefore in combination with the profitability of 2021 the dividend will be substantial. Mr. Siamisis noted that at the current time it is not possible to proceed with the distribution of an extraordinary dividend, as the process of corporate transformation of the group is in progress.
In fact, as concerns the strategic plan “Vision 2025” the CEO said that the corporate transformation will be completed by the end of the year and in January 2022 there will be a new company and then the rebranding, the new name will be announced.
RES targets
Andreas Siamisis placed great emphasis on the corporate and energy transformation of the group in the context of its adaptation to the new circumstances brought about by the Green Deal. Thus, he stressed that in the first quarter of 2022 the large photovoltaic park of Kozani with a capacity of 204 MW will be ready for commercial operation. Currently, 75% of the project has been completed.
In addition, the listed company has set a goal in 2030 of having installed RES capacity of 2 GW. In the current period through a portfolio of projects with a capacity of 1.7 GW, it has at an advanced stage of licensing RES 670 MW and 1 GW projects that are at an early stage of evaluation. In addition, it has plans for energy storage with a total capacity of 300 MW.
The Western Gulf of Patras
The management of Hellenic Petroleum also made it known to the analysts that it has notified the Hellenic Hydrocarbon Management Company about the intention of its joint venture with Energean, to return to the Greek state the of the Western Gulf of Patras. According to Mr. Siamisis, the relevant announcement was made in October. The move of the group was made in the context of its actions to reduce its environmental footprint.
It should be noted that in the summer, Hellenic Petroleum had returned to the Greek state the concessions for the exploration and exploitation of hydrocarbons in the land areas of “Arta – Preveza” and “NW. Peloponnese”.
Public Gas Corporation (DEPA) Commerce
The executives of the administration of Hellenic Petroleum did not hide their concerns about the outcome of the privatization of DEPA Commerce.
According to the CEO, the sale has been delayed and the company will have to decide on its next steps in the coming months. He added that “we can not be in the same business with two companies (DEPA Commerce and Elpedison)”.
Regarding the sale of DEPA Infrastructure, Mr. Siamisis estimated that by the end of the year the agreement for the transfer of shares will have been signed with the new investor, Italgas.
The energy crisis
Although the CEO of Hellenic Petroleum was optimistic about the end of the financial year for the listed company, nevertheless he did not hide his concern regarding the course of energy prices internationally. As he said, “we do not see a way out of this situation soon.”
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