Helleniq Energy recorded strong operating performance across all activities, albeit with lower refining margins, for the nine months to 2024.

Specifically, comparable EBITDA for the third quarter amounted to €183 million and comparable net profit for the third quarter amounted to €49 million, while the total for the nine months amounted to €753 million and €84 million, respectively.

The results were driven by high refinery availability, which led to higher sales volumes and better operations, partly offsetting lower refining margins, and improved performance in the trading companies and Petrochemicals.

Product production from refineries for Q3 2024 increased by 6% to 3.9 million metric tons, while sales reached 4.2 million metric tons (+8%), the highest level since Q3 2016, with exports accounting for 46% of total sales.

On 19 July 2024, Law 5122 was passed to impose a temporary solidarity contribution, calculated on the profits of the fiscal year 2023 that exceed 120% of the average of the results of the years 2018-2021, in accordance with the relevant European Regulation. The extraordinary contribution, in addition to the normal profit tax, amounts to €223 million and will be paid in February 2025. The net amount charged to the group's Q3 2024 reported net profit amounts to €173 million.

Based on the Nine Months results and the outlook for the full year 2024, the Board of Directors of HELLENiQ ENERGY Holdings has decided to distribute a provisional dividend of €0.20 per share to shareholders.