At 180 million euros the comparable operations were profits her Helleniq EnergY in the first quarter of 2025 and € 55 million in net profits, reduced by 47 % and 66 % respectively due to the decline in international refinement margins and the maintenance of the Elefsina refinery that led to a reduction in production.
Helleniq Energy announced today (15.5.2025) the sizes of the first quarter of the year, referring to satisfactory results, including profits, in a weak international environment.
On the contrary, the performance of the marketing that recorded the highest historical performance for the first quarter and Elpedison was improved.
Commenting on the results, HELLENIQ ENERGY CEO, Andreas Siamisispointed out:
“Having completed the first phase of the Vision 2025 strategic transformation plan, we are updating our strategy, with a realistic and balanced transition to the new energy era. For the first quarter 2025 we published comparable EBITDA profits at € 180 million, a satisfactory performance, given the weak refining environment, as well as reduced sales due to planning for general maintenance work at the Eleusis refinery. The performance of retailing activities has improved further, and we see that by integrating Elpedison, when the process is completed, the contribution of the electricity industry and will add a new source of revenue to the group.
The maintenance program at the Elefsina refinery proceeds safely and within the timetable. By completing June, it will substantially contribute to the improvement of facilities, with better results and environmental footprint.
The transformation program and the continuous improvements of our operation are upgrading the profitability base to higher levels. We emphasize the strengthening of basic refining and marketing activities and on enhancing our international presence in both trading and service networks. Verticalization in the electricity market will provide the advantage of a differentiated portfolio in RES and gas units, which will allow for important synergies to be exploited and improved business capabilities. “
It is also noted that demand in the internal market stood at 1.7 million tonnes in the first quarter 2025, higher by 4%, with fuel consumption being improved by 2%compared to the first quarter 2024. Demand for air fuel increased by 9%, while 9%increased by 9%.