HelleniQ Energy reported comparable EBITDA of €570 million and comparable net profit of €236 million for the first half of the year. Published Net Profit amounted to €209 million for the first half of the year. In terms of Q2 figures, comparable EBITDA was €232 million and comparable net profit was €73 million 

According to the group, the results were driven by the favourable international refining environment, high unit availability, which led to increased sales with a significant contribution from exports and international activities, as well as a higher contribution from the petrochemicals businesses,
retailing and renewable energy.

Product production from refineries for Q2 2024 increased by 3% to 3.7 million tonnes, while sales amounted to 4 million tonnes (+1%), with exports accounting for 55% of total volumes. Correspondingly, the volumes of motor fuels sold on the domestic market amounted to 20% of total refining sales.

Commenting on the results, the CEO of HELLENiQ ENERGY Holdings S.A., Andreas Siamisis, noted:

"In Q2 2024, good operating performance continued, which, combined with a positive refining environment, led to satisfactory financial results. The focus is on growth in overseas markets, either through stand-alone presence or through exports, as well as the expansion of the renewable energy portfolio. As a result, the Group's Comparable EBITDA reached €570 million for the first half of the year, a performance that sets the stage for a good year, despite the fact that the second half of the year so far appears more challenging in terms of the refining environment.

Given that the energy transition requires a pragmatic approach, investment in reliable technologies and a measured assumption of financial risk, the implementation of the Vision 2025 strategic plan is progressing with concrete steps. The main pillars remain the improvement of the existing refining and marketing portfolio, as well as the development of a second pillar in renewables, with the short-term goal of operating 1 GW of renewable energy projects and adding approximately €100 million to the Group's operating profitability. Exploiting synergies (technical, commercial and financial) across our range of activities plays an important role in the strategy. Finally, an important pillar in our strategy is the investment and development of human resources by renewing, developing and, where necessary, empowering the Group's staff in a way that is compatible with our future plans and the ever-changing environment."