- Helleniq Energy’s 3Q24 adjusted EBITDA was €183 million, surpassing expectations of €171.5 million.
- Compared to the previous year, adjusted EBITDA decreased by 54%.
- Adjusted net income for 3Q24 was €49 million, down 78% year-over-year.
- The company reported a net loss of €198 million, contrasting with a profit of €300 million the previous year.
- Refining sales volumes increased by 8.3% year-over-year, reaching 4.16 billion metric tons.
- EBITDA for 3Q24 was €90 million, an 82% decline compared to the previous year.
- Revenue decreased by 6.3% to €3.19 billion but still surpassed estimates of €3.15 billion.
- For the nine-month period, adjusted net income was €284 million, a 43% reduction from the prior year.
- Nine-month adjusted EBITDA totaled €753 million, reflecting a 22% year-over-year decrease.
- Despite a 97% drop, nine-month net income was €12 million.
- Nine-month EBITDA was €622 million, down 31% from the previous year.
- Refining sales volumes for the nine months rose by 5.8%, amounting to 12.15 billion metric tons.
- Weak benchmark refining margins affected 3Q24 results as anticipated.
- The CEO highlighted positive nine-month performance, particularly in Refining, Supply & Trading, which contributed €0.6 billion to adjusted EBITDA.
- The board declared a €0.20 per share interim dividend, supported by 9M24 profitability.
“`
A look at Hellenic Petroleum Sa Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 4 | |
| Dividend | 5 | |
| Growth | 5 | |
| Resilience | 3 | |
| Momentum | 2 | |
| OVERALL SMART SCORE | 3.8 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Analysts at Smartkarma have assessed Hellenic Petroleum S.A.’s long-term outlook using Smart Scores, a rating system ranging from 1 to 5 for different factors. The company has received high scores in Dividend and Growth categories, indicating a positive outlook in terms of dividend payouts and potential for expansion. Additionally, Hellenic Petroleum scored well in the Value category, reflecting strong fundamentals. However, the company scored lower in Resilience and Momentum, suggesting some room for improvement in handling volatility and capitalizing on market trends.
Hellenic Petroleum S.A. is actively involved in various aspects of the petroleum industry, from exploration and production to refining and marketing of petroleum products. The company also engages in petrochemical and chemical production, along with operating pipelines and offering engineering services. With refineries in key locations such as Thessaloniki and the Athens metropolitan area, Hellenic Petroleum is strategically positioned in the market.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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