Hellenic Petroleum - Improved environment, new strategy drive growth
Following a weak H119 due to an unfavourable trading environment for refineries, Hellenic’s profits picked up in Q3. We continue to expect strong...
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Hellenic Petroleum - Support from Q3 refinery margin rise and IMO 2020
Following a 25% EBITDA decline year-on-year in H119, we expect a 55% recovery in refinery margins in Q3 to support a significant recovery in H2...
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Hellenic Petroleum - A look ahead at 2019 after strong Q3 beat
Hellenic Petroleum (ELPE) demonstrated exceptionally strong margin over-performance ($7.3/bbl) versus the benchmark in Q318, with group adjusted...
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Hellenic Petroleum - Q2 beat driven by refining over-performance
Hellenic Petroleum reported Q2 adjusted EBITDA of €187m, 14% ahead of market consensus and an 18% decrease y-o-y. Realised margins at $10.6/bbl...
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Hellenic Petroleum - Refining estimates and valuation
A recovery in benchmark margins in February and March 2018 will offer relief to investors after a crude oil rally compressed margins in Q417. In...
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