HelleniQ Energy Holdings S.A. (the former Hellenic Petroleum), one of southeast Europe’s biggest petrochemical concerns, on Friday announced both Q4 2022 and full year results, with the former adjusted EBITDA reaching 465 million euros and adjusted net income of 261 million euros.
Annual adjusted EBITDA reached record-breaking highs, reaching 1.601 billion euros; 1.006 billion euros for adjusted net income.
In an announcement, the ATHEX-listed and partially state-run refinery group said the record-breaking results were “…driven by (a) strong international environment, improved operation of our refineries, exports, but also as a result of the Group’s transformation strategy across its businesses. Retail contribution in Greece and internationally was significant, while investments in RES are exhibiting positive contribution as a new business.”
Sales volume reached to 14.3 million metric tons, with robust exports (49 percent of total sales) and the aviation and marine fuel market improving due to post-Covid recovery in the domestic tourism sector.
As a result, the company’s board of directors proposed to the general assembly the distribution of a final dividend of €0.50 per share, and with the total dividend at €1.15 per share, considering the distribution of €0.40 per share out of DEPA Infrastructure proceeds and the interim dividend of €0.25 per share, which have already been disbursed.
Latest News
Europeche: Greek Apricot Production Recovers
Europeche forecasts the production will bounce back despite a slight decrease in varieties attributed to high winter temperatures
Bank of Greece (BoG): Business-Household Deposits Up 1,675bln in March 2024
In March 2024, the monthly net flow of credit to the general government was negative by 469 million euros
FT: Greece’s Economic Rebound a Balance of Growth and Poverty
Eurostat data revealed a significant 10.8% drop in Greek public debt relative to GDP in 2023, alongside a 2% economic expansion, outpacing Germany's performance.
Lavrio Port Authority Next Up for Privatization
A deadline for the submission of expressions of interest is May 14, 2024
Eurostat: Greece Records Largest Drop in Natural Gas Prices in 2nd Half of 2023
The price of electricity and natural gas in Europe was down following a substantial surge that began before the Russian invasion of Ukraine and peaked in 2022
GEK TERNA Still Considers Leveraging Concessions Portfolio as Financial Tool
President and CEO of Gek Terna George Peristeris explained the company's plans on Tuesday on the sidelines of the inauguration of sections of Greece's E65 highway
NielsenIQ: 3% Supermarket Revenue Increase in Q1
Private label products are gaining traction, comprising 25.4% of shopping basket shares, up from 24.7%
Store Hours Change Today in Observation of Orthodox Easter
The President of the Athens Chamber of Commerce hopes the Easter period will provide a much-needed boost to retail traffic in the capital
Athens-area Mass Transit Systems Set to Finally Install Contact-less Fare Payment
Paying fares via bank cards, smartphones and smartwatches in all mass transit systems in the Greek capital, namely, buses, trolleys, the metro and tram lines, is scheduled by the end of the year
Council of State Rejects Motion Against Thessaloniki Motorway Project
The motion was filed earlier this month by three local citizens’ and environmental groups and generated a high court decision for a temporary stay in construction