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MYTILINEOS Holdings S.A.

Member: Silver
Since: 01.12.2010

5-7, Patroklou Street, GR-151 25 Maroussi, Athens, Greece
RSS

Corporate

Founded in 1998, HELLENIC PETROLEUM is one of the leading energy groups in South East Europe, with activities spanning across the energy value chain and presence in 7 countries. Its shares are primarily listed on the Athens Exchange (ATHEX: ELPE) with a secondary listing on the London Stock exchange (LSE: HLPD).

In 2013, Group Adjusted EBITDA amounted to EUR 178 m., on total revenues of EUR 9.7 bn. HELLENIC PETROLEUM's key shareholders are Paneuropean Oil and Industrial Holdings S.A. (42.7%) and the Greek State (35.5%), with the remaining held by institutional (15.3%) and private (6.6%) investors.

Refining is the Group's core business, accounting for 75% of total assets. It owns three of the four refineries in Greece, of total capacity of 340 kbpd, with a 65% share of the Greek wholesale oil products market. During 2007-2012, the Group has successfully completed an investment plan amounting to EUR 3 bn., including the upgrade of the Elefsina Refinery, the largest private manufacturing investment in Greece. 2013 was the first full year of commercial operation of the upgraded refinery of Elefsina, which following the completion of the optimization process, had a significant contribution in the Group's profitability and exports.

The Group is the domestic ground fuels marketing leader, through its fully-owned subsidiaries EKO and Hellenic Fuels (former BP Hellas). The two companies comprise a retail network of some 1,800 service stations throughout Greece as well as LPG, industrial, aviation and marine fuels and lubricants businesses.

HELLENIC PETROLEUM is a leading player in SE European markets. The Group owns the sole refinery in Skopje (FYROM) and through its network of 279 petrol stations is one of the key fuels marketing players in Cyprus, Serbia, Bulgaria and Montenegro.

The Group's portfolio includes exploration assets in Egypt, Greece and Montenegro with current activities focused on the concessions of West Obayed in Western Desert of Egypt and Mesaha in Upper Egypt, in each of which the Group owns a 30% stake. The Group is acting as an operator (33% stake) for an international joint venture, which was selected as the preferred bidder by the Ministry of Environment Energy and Climate Change for the acquisition of exploration and production rights of hydrocarbons in the offshore area of West Patraikos Gulf in West Greece.

HELLENIC PETROLEUM is the sole petrochemicals producer in Greece, mainly active in the propylene- polypropylene value chain. Domestic market shares exceed 50%, while exports, mainly in Turkey, Italy and Iberia account for 50%-60% of sales.

HELLENIC PETROLEUM is also active in the power and gas sectors. Power generation and trading activities are carried out through ELPEDISON, a JV with Italian EDISON, part of the EdF Group.  The JV owns and operates two CCGT plants in Greece, one 390MW plant in Thessaloniki and a 420MW plant in Thisvi. Moreover, HELLENIC PETROLEUM recently entered the field of renewable energy sources with a portfolio exceeding 100MW in various development stages.

The Group is present in the natural gas sector through its 35% stake in DEPA, Greece's incumbent gas company and the main natural gas importer and wholesale supplier in the country. DEPA fully owns DESFA, Greece’s natural gas grid owner and operator, and 51% of each of the local supply companies (EPAs).