Greece's Helleniq Energy Q1 earnings jump on higher refining margins

HELLENiQ ENERGY Holdings

14/05/2026 16:07

May 14 (Reuters) - Greece's Helleniq Energy reported on Thursday higher first-quarter earnings, supported by stronger refining margins and the contribution from its integrated power business, as disruptions in the Middle East tightened global energy supply.

The group reported adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) of 293 million euros  ($343 million) for the first quarter, up from 180 million in the same period last year.

Reported net income jumped to 284 million euros from 11 million euros a year earlier, largely due to inventory gains from rising crude oil prices.

Benchmark refining margin in the first quarter averaged $11.4/bbl vs $5.1/bbl a year earlier.

Exports remained close to 50% of total sales.

Domestic fuel demand was down 2% year-on-year, while jet fuel demand was up 10%.

($1 = 0.8551 euros)

 (Reporting by Antonis Pothitos. Editing by Mark Potter)

 ((antonis.pothitos@thomsonreuters.com; +48 58 769 65 78;))