Corporate Profile
Established in 1998, HELLENiQ ENERGY Holdings S.A. (formerly known as HELLENIC PETROLEUM S.A.) is one of the leading energy groups in South East Europe, engaged in various activities across the energy value chain and operating in six countries.
The primary shareholders of HELLENiQ ENERGY Holdings are Paneuropean Oil and Industrial Holdings (Cyprus) Limited (40.41%) and the Hellenic Republic Asset Development Fund (31.18%), while institutional and private investors hold the remaining shares. HELLENiQ ENERGY Holdings S.A. is listed on the Athens Exchange (ATHEX: ELPE) with a secondary listing on the London Stock Exchange (LSE: HLPD) through GDRs. Additionally, the Group's international bond issue (HEF, 4.25%, 24 July 2029) is listed on the Luxemburg Stock Exchange.
In 2023, net sales reached €12.8bn and Group Adjusted EBITDA amounted to €1,237m.
The Group's primary business focus is refining, with operations in three out of the four refineries in Greece (Aspropyrgos, Elefsina, Thessaloniki), which collectively possess a total capacity of 342 kbpd. Furthermore, the Group holds a 60% share in the Greek wholesale oil products market.
Moreover, the Group holds a leading position in the domestic ground fuels marketing sector, boasting a retail network comprising more than 1,600 service stations throughout Greece. Additionally, the Group is involved in LPG, industrial, aviation, marine fuels, and lubricants businesses.
In the Southeast European markets, the Group is a significant player in the fuels marketing industry, operating through a network of over 300 petrol stations in Cyprus, Serbia, Bulgaria, Montenegro, and the Republic of North Macedonia.
The Group is the sole producer of petrochemicals in Greece, primarily engaged in the propylene-polypropylene value chain, commanding a market share exceeding 50% domestically. Furthermore, approximately 65% of the Group's sales come from exports.
Leading the energy transition, HELLENiQ ENERGY has made substantial investments in renewable energy sources (RES), currently possessing a portfolio of 384 MW in operation and over 5.3 GW in various stages of development. The Group aims to achieve 1 GW of operational capacity by 2026 and 2 GW by 2030.
The Group's exploration and production activities primarily focus on Greece, with an exploration portfolio encompassing six offshore areas, either independently or in collaboration with prominent companies in the sector.
HELLENiQ ENERGY is also actively involved in the power and gas sectors.
Power generation and trading activities are conducted through ELPEDISON, a joint venture with EDISON, in which HELLENiQ ENERGY holds a 50% stake. ELPEDISON owns and operates two CCGT plants in Greece, boasting a combined capacity of 840 MW, and is also present in the retail electricity market.
Additionally, the Group participates in the wholesale, supply, and distribution of natural gas through its 35% stake in DEPA Commercial and DEPA International Projects.
Summary Group Structure1
(1) All companies 100% owned unless otherwise noted
(2) 45% owned through HEI
(3) Includes OPCOs
Note: information updated as of 15 Nov 2024