Annual Report 2016

Hellenic Petroleum in the 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), as Global Depositary Receipts (GDRs).

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 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/XA Oil-Gas Index, the FTSE/Med 100, the Greece - Turkey 30 Index and the Global X FTSE Greece 20 ETF Index.

Share Ticker

Reuters HEPr.AT
Bloomberg ELPE:GA

Share price evolution

Domestic macroeconomic developments, in relation to the progress of the review of the Greek financing program and wider political developments both in Greece and internationally, were the main factors that drove the Greek Stock Exchange’s performance during the year, which managed to gain ground especially after the first half 2016. The General Index recorded gains of 3%, while it trended lower during the first half of the year, it recovered thereafter, while the FTSE/ASE Large Cap was 2.7% lower, affected by the Greek banks’ shares performance. In that context HELLENIC PETROLEUM’s ended higher for the second year, by 8.1% vs 2015, closing at €4.42 on 30.12.2016.

HELLENIC PETROLEUM's share price evolution

(share price in € - Average daily volume, no. of shares)

Share Price Data, Fiscal Year 2016

Average price € 3.86
Lowest price € 2.90
Highest price € 4.68
Average daily trading volume (no. of shares) 149,855

Analyst coverage

The number of Greek and international brokerage firms covering HELLENIC PETROLEUM on the 31st of December 2016 amounted to thirteen (13) firms, higher compared to the previous year due to increased international interest.

Greek Firms International Firms
Alpha Finance Berenberg
Axia Ventures Citigroup
Eurobank Equities Deutsche Bank
Investment Bank of Greece Goldman Sachs
NBG Securities HSBC
Pantelakis Securities UBS
Wood Company

Dividend policy

Taking into consideration the positive results of 2016 and the Group’s overall financial position, the Board of Directors of HELLENIC PETROLEUM proposed the distribution of a dividend of €0.20 per share to the General Meeting.


*including other distributions

Shareholding structure

On 20 July 2016, Paneuropean Oil & Industrial Holdings S.A. announced the increase of its participation to 45.5%. The rest of the changes in the shareholding structure during 2016 were not material and were mainly driven by the developments in the Athens Stock Exchange. The ownership composition on 31/12/2016 is as follows:

Ownership Structure

Eurobond issue

Since 2013, the Group has raised more than €1.5 billion through the issue of four internationally traded bonds making it the largest Greek owned issuer. In May 2016, the $400 million bond was repaid and HELLENIC PETROLEUM proceeded with the issuance of a new bond of €375 million maturing in October 2021, with the acquisition of bonds maturing in May 2017 amounting to €225 million, following a public offering. The main features of the three bonds which have been issued by Hellenic Petroleum Finance plc, and which are guaranteed by HELLENIC PETROLEUM S.A. and traded on the Luxembourg Stock Exchange as at 31 December 2016, are listed in the table below:

Issue date Maturity Currency Issue Amount
Coupon ISIN
10/05/2013 10/05/2017 EUR 500 8.00% XS0926848572
04/07/2014 04/07/2019 EUR 325 5.25% XS1083287547
14/10/2016 14/10/2021 EUR 375 4.875% 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 presentations outlining business activities and financial results
  • Teleconferences giving investors/analysts the opportunity for further information about the Group’s activities
  • Attending roadshows both in Greece and abroad
  • Regularly updating the Company’s website concerning basic industry performance indicators which affect Company’s financial performance