Annual Report 2018
60 Years Producing Energy
20 Years of HELLENIC PETROLEUM

Capital markets

Main information

HELLENIC PETROLEUM’s shares are traded in the General Category (Main Market) on the Athens Stock Exchange (ATHEX: ΕLPΕ) and the London Stock Exchange (LSE: HLPD), through Global Depositary Receipts (GDRs) while its two bond issues are listed on the Luxembourg Stock Exchange.

The Company’s share capital amounts to €666,284,703.30 divided into 305,635,185 shares with a nominal value of €2.18 each. The Company’s shareholders’ rights, arising out of their shares, are proportionate to the percentage of capital corresponding to the paid-in-share value. All shares have the same rights and obligations arising from the Law and the Company’s Articles of Association. The liability of the Company’s shareholders is limited to the nominal value of the shares they own.

HELLENIC PETROLEUM’s shares participate, with a significant weighting, in the ASE General Index and the FTSE/ΧΑ Large Cap Index, as well as a number of other indices such as the FTSE/ASE Oil-Gas Index, the FTSE/Med 100, the Greece – Turkey 30 Index and the Global X FTSE Greece 20 ETF.


Share Ticker

OASIS ELPE
Reuters HEPr.AT
Bloomberg ELPE:GA

Share price development

In 2018, the ASE General Index followed a downward trend, declining by - 23.6% as compared to 2017, which reflects developments in the banking sector, whose index recorded significant losses, political developments in Greece, but also the volatile international environment, both in Europe (political crisis in Italy, Brexit), and globally (trade policy issues between USA and China). Similarly, the FTSE/ASE Large Cap closed lower by 22.8%, while HELPE's share recorded a slight decline of -3%, outperforming the ASE General Index, closing at €7.38 on 31.12.2018.


HELLENIC PETROLEUM’S share price evolution
(share price in € - Average daily volume, no. of shares)

Share Price Data, Fiscal Year 2018

Average price € 7.57
Lowest price € 6.67
Highest price € 8.79
Average daily trading
volume (no. of shares)
94,097

Analyst coverage

The number of Greek and international brokerage firms covering HELLENIC PETROLEUM on the 31st of December 2018 amounted to eleven firms.

Greek Firms

  • Alpha Finance
  • Axia Ventures
  • Eurobank Equities
  • Investment Bank of Greece
  • NBG Securities
  • Pantelakis Securities

International Firms

  • Citigroup
  • Wood Company
  • HSBC
  • UBS
  • Edison

Dividend policy

On 8 November 2018, the Board of Directors of HELLENIC PETROLEUM decided to distribute an interim dividend of €0.25 per share and proposed the distribution of a final dividend of €0.50 per share, €0.25 of which pertain to the proceeds of the sale of the company's share in DESFA, resulting in a proposed total dividend for the FY 2018 of €0.75/share.

€0.75
Total dividend / share
€229 million
Total dividend

Dividend1

Shareholding structure

Changes in the company's shareholding structure in 2018 were not significant, with the increase in participation of Greek Institutional investors as key trend. The shareholder structure as of 31/12/2018 was as follows:


Shareholder structure

Ownership structure

Shareholder Shares number % Participation
Paneuropean Oil & Industrial Holdings S.A. 138,971,359 45.5%
Hellenic Republic Asset Development Fund 108,430,304 35.5%
Greek Institutional Investors 16,170,680 5.3%
International Institutional Investors 18,102,774 5.9%
Retail Investors 23,960,068 7.8%
Total shares 305,635,185 100%

Eurobond issue

Since 2013, the Group has raised more than €1.6 billion through the issue of four internationally traded bonds, making it the largest independent Greek issuer. Over the last few years, yields on the company’s bonds have recorded a significant decrease.


HELPE Oct.’21 Bond Yield (Mid YTM %)

The key features of the two bonds, issued by Hellenic Petroleum Finance plc and guaranteed by HELLENIC PETROLEUM SA outstanding, on 31 December 2018 on the Luxembourg Stock Exchange, are presented in the table below:

Issue DateMaturity CurrencyIssue
Amount (m)
CouponISIN
04/07/201404/07/2019 EUR3255.25%(XS1083287547)
14/10/201614/10/2021 EUR4504.88%(XS1500377517)

Investor Relations Services

The Company seeks to fully and fairly inform its shareholders and bondholders both in Greece and internationally, through a variety of events and initiatives, such as:

  • Quarterly reports outlining business activities and financial results (press releases, presentations, teleconferences, internet)
  • Annual Report, interim and annual Financial Report of the BoD
  • Teleconferences enabling investors/analysts to receive further information on the Group’s activities
  • Regular contacts and meetings with analysts and fund managers
  • Attending roadshows and investor conferences both in Greece and abroad
  • Regularly updating the Company’s website concerning basic industry performance indicators which affect the Company’s financial performance

1 Including other distributions