Annual Report 2018
60 Years Producing Energy


The strategy and the Group’s activities aim at strengthening the relationships with its stakeholders so that the Group can respond to their needs in the context of sustainable development.

HELLENIC PETROLEUM has defined its stakeholders (interested parties) as parties with which it communicates, converses or cooperates, or who possess a direct/ indirect interest in its operations.

Interested parties include:

  • Employees
  • Customers & Consumers
  • Station managers
  • Suppliers & Partners
  • Shareholders, bondholders, Capital Markets & other Capital Providers
  • Media & Opinion Leaders
  • Broader society (Organizations, NGOs etc.)
  • the Local Community (Organizations, NGOs of neighbouring municipalities)
  • the State and Regulatory Authorities
  • the Business Community
  • the Scientific Community / Academia

HELLENIC PETROLEUM defines its social product as the financial contribution that is made towards our key stakeholders, excluding its customers and suppliers. The Group makes significant investments, provides a considerable number of employment positions and contributes to the improvement of the economy in the countries that it operates; furthermore, it has an indirect positive impact on growth, employment and national product. As a result of its activities, the Group also collects and pays an important part of indirect taxes (excise duty and VAT) to the authorities in the countries where it operates. Finally, the Group’s contribution to society as a whole, through targeted interventions, within the context of its Corporate Social Responsibility framework which placed an emphasis on supporting socially vulnerable groups and young people, was substantial.

In 2018, the Group’s turnover amounted to €9,769 million (2017: €7,995 million) while the social product amounted to €1.7 billion (2017: €1.7 billion) distributed as follows:

  • €235 million distributed to employees (salaries and benefits)
  • €50 million paid directly to the Greek State via direct taxes and employee insurance contributions, as well as an additional €1.3 billion in indirect taxes
  • €151 million distributed to shareholders as dividend
  • €7 million was also distributed through initiatives for the society
€7 mn
Was distributed through initiatives for the society
€1.3 bn
Indirect taxes to the Greek State

Corporate Social Responsibility

The Integration of the 17 Sustainable Development Goals into our Strategy creates Value for the Group.

The adoption of the Sustainable Development Global Goals and the Group's commitment to their gradual integration into all of its activities over the next decade entails the re-design of our strategy and creates new development prospects. This will enable the Group to better respond to society's expectations as a responsible social partner, whilst creating the structures needed to transform it into a modern energy Group, ready to exploit opportunities and to face the challenges that will arise from future changes in both technology and human resources.

Material Topics & Sustainable Development Goals (SDGs)

In recent years, the Group has developed close cooperation with a broader group of social partners. It maintains an open dialogue with the local communities where it operates and determines the key issues for each area. It applies good practices in regard to all social groups, supports local economy and local suppliers, and offers employment and opportunities for young people.

The Group's programs focus on the younger generation, awarding scholarships for educational institutes in Greece and abroad, to students who excel thanks to their talent and performance. It supports actions and initiatives that further innovation and entrepreneurship and creates potential for young people.

Through its social work, the Group promotes development in areas which suffered from natural disasters, floods, fire (Municipalities of Mandra - Eidyllia, Megara, Rafina - Pikermi etc.) as well as social groups facing challenges, so as to improve their living conditions.

7 Scholarship
Programs in Greece and abroad
64 Scholarships
For postgraduate studies in Greece and abroad

Actions 360o

Young Generation

The Group implements initiatives and actions focused on education and the youth, aimed at improving young people’s knowledge and developing skills, including programs at all levels of education, in cooperation with educational institutions in Greece and abroad, as well as research centers etc. Professional experience is also a main focus either through employment within the organization or the support of employment programs in Greece and abroad, through vocational training lectures, collaborations with universities and research centers and creative student programs.

In this context, HELLENIC PETROLEUM Group rewards excellence in neighbouring Municipalities with the "Rewarding New Entrants in Tertiary Education" Program as well as scholarships for postgraduate studies in Greek universities and reputable universities abroad. Finally, educational visits are organized for secondary and tertiary education students to the industrial facilities along with financial sponsorships for events such as BEST and TEDx and donation of equipment to science laboratories in schools throughout Greece.


In the context of social solidarity and the support of vulnerable social groups, the Group has undertaken immediate action for the relief of people who suffered from natural disasters, that affected our country, while it continued its contribution to society with several actions, such as:

  • heating oil donation to schools, care centres for the elderly of neighbouring municipalities, refugee camps and NGOs at national level,
  • supporting the operation of social groceries of our local communities
  • supporting Hospitals, Health Centers, NGOs, foundations and charitable organizations.

Furthermore, it implements programs aimed at providing assistance and support to people with disabilities and Romani families, as well as preventative medicine programs for students and participates in volunteer and informative actions for human rights.


The protection of the environment and the implementation of infrastructure projects for sustainable cities are key pillars of the Group’s corporate social responsibility. It ensures the installation, monitoring and maintenance of environmental stations in the areas in which it operates and applies the best available techniques for the operation of all its facilities. Moreover, it implements studies and projects for environment protection and energy saving, in collaboration with the academic community. It meets the energy needs of schools by installing PV panels, it contributes to the construction of parks, playgrounds and sports centers, as well as to road maintenance and paving, etc. to improve quality of life in neighbouring municipalities. Finally, it implements a long term educational and environmental awareness program targeted to students of remote areas all over Greece.


The Group supports and participates in all major cultural events of the local communities and the broader society, aiming at safeguarding and disseminating our cultural heritage. It takes initiatives and collaborates with local communities to restore buildings and establish cultural centers. It supports libraries, museums and develops partnerships with organizations, institutions and cultural centers to preserve and promote culture. Core actions for sports include the education of young people, as well as providing inspiration to the broader society by encouraging and developing the athletic spirit, through sports initiatives for humanitarian purposes and by supporting the effort of sports clubs, teams and individual athletes.