HELLENiQ ENERGY Holdings S.A.

Latest Results (09.10.2025):

In the first quarter of 2025, HELLENiQ ENERGY Holdings S.A. reported an Adjusted EBITDA of €180 million and an Adjusted Net Income of €55 million. The results were influenced by a challenging refining environment and decreased oil product sales due to the ongoing full turnaround at the Elefsina refinery. Despite these hurdles, the Fuels Marketing sector achieved record performance, and both the Power and Renewable Energy Sources (RES) businesses showed significant improvement.

Refining Operations

Refining output for 1Q25 was 3.7 million MT, with sales volume reaching 3.5 million MT, marking an 11% year-over-year decrease. The Elefsina refinery's full turnaround commenced in late March and is on track to be completed by mid-June, aiming to enhance operational efficiency and reduce the carbon footprint by approximately 10,000 tons of CO2.

Fuels Marketing Performance

The Fuels Marketing division, both domestically and internationally, delivered a record high result in the first quarter, underscoring improved market strategies and increased sales of premium products and services.

Power and Renewable Energy Growth

The Power business, including Elpedison and RES segments, achieved a combined EBITDA of €40 million. HELLENiQ Renewables manages a 494 MW operational capacity and is developing photovoltaic parks and battery storage projects totaling 5.1 GW across Greece and Southeastern Europe.

Financial Metrics

Reported EBITDA for 1Q25 stood at €122 million, while Reported Net Income was €11 million, mainly due to a decline in international prices affecting inventory valuation. Net debt increased to €2.5 billion, with debt service costs decreasing by 4% year-over-year, maintaining the Group’s capacity to support strategic initiatives.

Strategic Initiatives

HELLENiQ ENERGY is updating its strategy with a 2030 outlook focused on energy transition. Key actions include the acquisition of the remaining 50% of Elpedison, enhancing energy efficiency in refining and petrochemicals, and expanding its international supply and trading operations through a new platform in Geneva.