The Greek Deal.com
HELLENIQ ENERGY
Comparable EBITDA for the third quarter amounted to €183 million
Helleniq Energy recorded strong operating performance across all activities, albeit with lower refining margins, for the nine months to 2024.
The second phase of exploration for hydrocarbons southwest of Crete begins
The consortium in the marine areas of the "Southwest of Crete" field officially proceeded to the second phase of exploration, as announced today by the Hellenic Hydrocarbons and Energy Resources Management Company.
Comparable EBITDA of €570 million in the first half of the year
HelleniQ Energy reported comparable EBITDA of €570 million and comparable net profit of €236 million for the first half of the year.
Creation of the first self-production photovoltaic power plant in an industrial facility
At the energy group's Megareon industrial facilities, the first self-producing photovoltaic power plant built by Helleniq Energy is now complete.
In the area of 4.75% the yield of the €400 million bond
HelleniQ Energy's €400 million bond offering was assigned a yield of roughly 4.75% (with a variation of +/- 12.5 basis points).
Proposal to buy back bonds and issue new ones
A redemption offer has been made for a total outstanding amount of €599.9 million at an interest rate of 2%, maturing in October 2024, by HELLENiQ Energy Finance plc (HEF), a subsidiary of HELLENiQ Energy, in exchange for cash payments to bondholders and the issuance of new bonds.
The composition of the new Board of Directors
At its meeting today, the Helleniq Energy Holding Company's Annual General Meeting of Shareholders approved all of the items on the agenda with a resounding majority before electing a new Board of Directors with a three-year term in office.
The extraordinary levy on refinery profits is wrong
In reference to the implementation of a special levy on refinery profits, CEO of Helleniq Energy Andreas Siamisis stated that the dividend for 2023 will not be impacted by the levy, but rather for 2024 and 2025. The amount of the levy is currently unknown.
The next day scenarios for DEPA Commercial
According to BnB Daily, a principle agreement appears to have been reached for the Greek State to purchase 35% of HelleniQ Energy in DEPA Commercial.
Comparable net profit of €164 million in the first quarter
Helleniq Energy released its financial results for the first quarter of 2024. Adjusted net income was €164 million, while adjusted EBITDA was €338 million.
The green transition is going to happen
Andreas Shiamishis, head of Hellenic Energy, said that recent cancellations of renewable energy projects show that the system is not technically ready for reliance on renewables alone.