HELLENiQ ENERGY Holdings SA (LTS:0K9U)
€ 8.31103 0 (0%) Market Cap: 2.14 Bil Enterprise Value: 3.94 Bil PE Ratio: 4.10 PB Ratio: 0.74 GF Score: 80/100
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Q2 2024 HELLENiQ ENERGY Holdings SA Earnings Call Transcript

Aug 29, 2024 / 03:00PM GMT
Release Date Price: €8.31

Key Points

Positve
  • Strong demand increase driven by auto fuels and high tourism.
  • Higher utilization and production in refining operations.
  • Significant contribution from international markets, with exports and non-ground fuel sales accounting for 74% of total refining sales.
  • Positive performance from marketing businesses both in Greece and internationally.
  • Increasing portfolio of renewables contributing to EBITDA, with a clean EBITDA of EUR230 million for the quarter and EUR560 million for the half year.
Negative
  • Temporary slowdown expected in refining margins compared to last year's third quarter.
  • Renewables projects face delays and curtailments, impacting profitability.
  • Decline in the number of owned stations in the network, with further reductions expected.
  • Impact of the solidarity contribution to be reflected in Q3, affecting financial statements by EUR173 million.
  • Challenges in the power and gas portfolio, with market conditions not supportive for traditional and commercial operations.
Operator

Ladies and gentlemen, thank you for standing by. I am Vassilios, your Chorus Call operator. Welcome and thank you for joining the HELLENiQ ENERGY Holdings conference call and live webcast present to discuss the second-quarter and first-half 2024 financial results.

At this time, I would like to turn the conference over to Mr. Andreas Shiamishis, CEO; Mr. Georgios Alexopoulos, Deputy CEO, General Manager, Group Strategic Planning And New Activities; Mr. Vasilis Tsaitas, Group CFO, Mr. Dinos Panas General Manager, Oil Supply and Sales, and Mr. Nikos Katsenos Investor Relations Manager. Gentlemen, you may now proceed.

Andreas Shiamishis
HELLENiQ ENERGY Holdings SA - Chairman of the Executive Committee, Chief Executive Officer, Executive Director

Thank you very much. Welcome to our for our second-quarter results, which basically summarizes a good set of numbers. If you go to page 4, where we have a high level summary effectively, what we have is a market which is stabilizing in terms of crude prices and terms, I would say in terms of reasonably healthy

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