Greece · Delayed Price · Currency is EUR HELLENiQ ENERGY Holdings Earnings Call Transcripts
Fiscal Year 2025
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Strong year with EUR 1.1 billion EBITDA, record marketing and refining results, and stable net debt. Power and renewables expanded, with new projects and pipeline reopening set to boost future EBITDA. Dividend increased 20% to EUR 0.60 per share.
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Record refining and marketing performance, boosted by Enerwave consolidation, drove adjusted EBITDA to EUR 750 million for the nine months. Strong outlook continues, with robust demand, high refinery utilization, and strategic progress in renewables and trading.
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Adjusted EBITDA for Q2 exceeded €220 million, with strong refining and marketing performance despite Elefsina downtime. Renewables and ELPEDISON consolidation are set to drive future growth, while new projects in SE Europe promise higher returns and diversification.
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Strong core business performance and resilient margins were achieved despite lower benchmark margins and refinery shutdowns. Marketing and renewables segments delivered record or improved results, while the Elefsina turnaround and ELPEDISON consolidation are set to boost future performance.
Fiscal Year 2024
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2024 saw record refinery production and strong renewables growth, but EBITDA declined 25% year-over-year due to weaker refining margins and a special solidarity contribution. Dividend yield remains above 10%, with major asset transactions and strategic progress achieved.
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Q3 results were impacted by weak refining margins, but nine-month adjusted EBITDA reached EUR 750 million, supported by strong operational performance and growth in renewables. Interim dividend of EUR 0.20/share was approved, and outlook for Q4 is positive with higher margins and continued renewables expansion.
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Strong Q2 and H1 results with high refining utilization, robust demand, and growing renewables. Outlook anticipates softer Q3 margins but expects recovery in Q4, while new bond issuance and refinancing strengthen the balance sheet.