HELLENiQ Energy

HELLENiQ Energy (ASE: ELPE)

Currency in EUR

Last close As at 20/09/2023

EUR7.26

▲ −0.10 (−1.36%)

Market capitalisation

EUR2,249m

Overview
Price performance
Financials
Research
Sector insights
Thematics

HELLENiQ Energy (ELPE) operates three refineries in Greece with a total capacity of 344kbopd. It has sizeable marketing (domestic and international) and petrochemicals divisions.

European refining will likely face continued challenges in the coming years as demand falls and refinery systems elsewhere (Asia/United States) hold structural advantages. To offset this, changing regulations should put complex, middle distillate-orientated refineries, such as ELPE’s, in a strong position.

Latest Insights

Oil & Gas |
Flash note

11.11.22

HELLENiQ Energy — Another strong set of results

Oil & Gas |
Flash note

26.08.22

Hellenic Petroleum — Record Q2 results

Oil & Gas |
Flash note

16.05.22

Hellenic Petroleum — Strong Q1 results

Oil & Gas |
Update

04.04.22

Hellenic Petroleum — Low dependency on Russian crude

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Sector

Oil & Gas

Equity Analyst

Peter Hitchens

Key Management

Andreas Shiamishis

CEO
Ioannis Papathanasiou

Chairman
Nikos Katsenos

Head of IR
Vasilis Tsaitas

CFO

Balance Sheet

Forecast net debt (€m)

N/A

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
%	1M	3M	12M
Actual	(8.1)	(11.8)	12.7
Relative	(3.3)	(7.0)	(21.7)
52 week high/low	€8.6/€6.0

Financials

HELLENiQ ENERGY Holdings shares are primarily listed on the Athens Exchange (ELPE) with a secondary listing in London (HLPD). ELPE has been successfully executing on its Vision 2025 strategy, having incorporated a new fit-for-purpose corporate structure, improved the overall corporate governance and rebranded with a new name, logo and corporate identity, while updating its business strategy/capital allocation and redefining its ESG strategy. ELPE plans to expand its Renewable Energy Sources portfolio from 0.34GW currently to greater than 2GW by 2030. It reported another strong set of results for Q422/FY22, with FY22 reported net income of €890m and historically high adjusted EBITDA of €1,601m. We will update our forecasts in due course.