Helleniq Energy CEO Andreas Shiamishis said the company will present a new strategic growth plan in January. The plan will focus both on Helleniq Energy’s traditional activities, namely hydrocarbons, and on renewable energy sources and electricity, while also exploring potential acquisitions in southeastern European countries.

Following the announcement of strong nine-month results, Shiamishis expressed optimism about the final quarter of the year, as conditions in international markets remain favorable for refining. He attributed this to limited available refining capacity combined with strong demand, while geopolitical instability has further boosted refining margins. Indicatively, despite rising prices, the decline in consumption in the Greek market has been marginal.

The company also announced that it was doubling its interim dividend from €0.20 to €0.40 per share, while management is targeting a dividend yield of between 6% and 8%.

Helleniq Energy reported comparable operating profits of €1.16 billion for the third quarter and comparable net profits of €808 million, up from €186 million a year earlier. For the first nine months of the year, comparable EBITDA amounted to €1.89 billion, while comparable net profits reached €1.20 billion.

Source: Ekathimerini.com