Helleniq Energy successfully fills ‘gap’ with Persian Gulf supply – Strong financial performance

Helleniq Energy highlighted the group’s quality to successfully negociate the situation arising from the subject struggle successful the Middle East and the Persian Gulf.

During the presumption of the group’s fiscal results to analysts, Andreas Shiamishis, Chief Executive Officer of Helleniq Energy, stated that the institution succeeded successful afloat offsetting the “gap” created by disruptions successful the Persian Gulf, with Helleniq Petroleum Trading — the group’s caller hub for petroleum products trading — playing a decisive relation successful managing the interaction of the crisis.

Resilience and International Reach

Fuel supply to markets some domestically and internationally continued uninterrupted, with exports increasing, while the reopening of the Thessaloniki–North Macedonia (Vardax) pipeline further strengthened the group’s planetary presence.

As highlighted during the presentation, the radical faced nary supply-related issues, with Greece remaining 1 of lone three countries with a surplus accumulation of refined petroleum products. Greece is notably surplus successful gasoline, diesel, aviation substance and kerosene, and is the largest exporter successful Europe comparative to the size of its home market.

The group’s refineries, with a combined yearly accumulation capableness of 16 cardinal tons, supply astir 60% of the Greek market, while a important information of accumulation is exported, chiefly to the Mediterranean and Black Sea regions.

Overall, the strong show of the refining segment, supported by steadfast refining margins, combined with the show of the trading concern and the integration of Enerwave, led to affirmative fiscal results, with comparable EBITDA reaching 293 cardinal euros successful the archetypal 4th of 2026 and comparable nett profits amounting to 140 cardinal euros.

Fuel Market Performance

Sales successful the home substance marketplace declined slightly year-on-year by 2%, while the other trend was recorded successful aviation fuels, where income roseate by astir 10% successful the archetypal 4th compared with the aforesaid play past year.

Marine substance income maintained their erstwhile trajectory, signaling a humble diminution of astir 4%.

In immoderate case, higher lipid and earthy state prices strengthened the group’s halfway fiscal metrics, some successful refining and successful energy generation.

The publication of Enerwave was besides assessed positively, with the caller vertically integrated energy and earthy state level contributing 38 cardinal euros successful Comparable EBITDA during the archetypal 4th of 2026.

A akin strategic attack is being adopted successful renewable vigor sources (RES), with the radical targeting 1.5 GW of installed capableness within three years. Over the adjacent 18 months, installed capableness is expected to transcend 1 GW, compared with 564 MW presently successful operation.

This portfolio will beryllium spread crossed 5 countries while maintaining technological balance, including wind and solar projects arsenic well arsenic vigor storage systems.

Responding to a related question, George Alexopoulos, Deputy Chief Executive Officer of Helleniq Energy, noted among different things that vigor storage occupies a cardinal relation successful the group’s plans, though marketplace risks that could spot unit connected related revenues are besides being cautiously considered.

Investments and Financial Position

Total investments successful the archetypal 4th of 2026 accrued to 186 cardinal euros, chiefly directed toward wide attraction and upgrade projects astatine the Aspropyrgos Refinery, arsenic well arsenic the implementation of renewable vigor capableness enlargement projects.

Net indebtedness stood astatine 2.7 billion, chiefly owed to temporarily elevated working superior requirements associated with the shutdown astatine the Aspropyrgos refinery, which resumed operations successful April, including much than 0.4 cardinal successful task concern borrowing for renewable vigor projects.

Indicative of the group’s fiscal strength is the 8% simplification successful total indebtedness servicing costs, arsenic well arsenic the important availability of recognition lines exceeding 1 cardinal euros.