When does the extraordinary dividend come to ELPE due to DEPA

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Of Thanks to Floudopoulos

The management of Hellenic Petroleum characterized the first quarter of the year as positive, with sales developing very well both at home and abroad.

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In favor of the first quarter is the fact that the planned maintenance of the Elefsina refinery was carried out and in fact at a time when the margins were relatively low.

However, at the cost level, the challenges posed by high energy prices and CO2 rights continue. In any case, the demand in the Greek market is at positive levels.

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As the management characteristically presented the results to the analysts, in the field of marketing there is no impact on the demand at the moment due to the high fuel prices as the consumers use their car more after the lifting of the covid restrictions. However, if the phenomenon of high prices continues, the current estimate is that demand will also be affected.

In the results of the first quarter there is for the first time a special report and a separate chapter for RES, as in fact it started its operation in April and the photovoltaic of Kozani.

The EBITDA of the activity is expected to reach 50 million euros with the group’s goal to be from the 285MW of projects that are currently in operation, in 2023 to reach 400MW and in 2024 to 600MW.

Finally, regarding DEPA Infrastructure, the management expects the closing of the transaction for the sale of the company to Italgas in June, which means that the extraordinary dividend for the shareholders is expected within the second half of the year.

Source: Capital

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