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HELPE ANNUAL REPORT 2019
ANNUAL REPORT 2019
2019
AN
NU
AL
REP
ORT
MESSAGE
TO Dear Shareholders,
SHARE
HOLDERS

2019 has been a transition year for the Group, with a number of business and organizational challenges. Regarding the environment in which we operate, the Group had to manage, for the first time after several years, a severe deterioration in the international environment, as well as the biggest change in the refining industry over last 20 years regarding the marine fuels specifications. In such a backdrop, we responded very successfully, improving our balance sheet and maintaining high returns for our shareholders.

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Ioannis Papathanasiou
I. PAPATHANASIOU Chairman IP
Andreas Shiamishis
A. SHIAMISHIS Chief Executive Officer AS
2019 HIGHLIGHTS
0 mn
Adj. EBITDA
Maintained Strong Profitability
0 mn
Total dividend
High shareholders' return
0%
Financial cost reduction over the last three years
Improved Balance Sheet
0 mn
New Eurobond issuance amounting at 2% interest rate
0.0 bn
social product to various stakeholders (incl. indirect taxes)
ΙΜΟ 2020
New operating model of Aspropyrgos refinery for production of new marine fuels specifications
WindMill
0 MW
Target by 2025
Significant portfolio development in Renewable Energy Sources
Safety & Environment
Maintained high safety performance & improved environmental footprint
STRATEGY
AND
OPER
ATIONS

A fundamental principle of our strategy is the safe and sustainable operation of our activities, while respecting both the environment and society. HELLENIC PETROLEUM Group’s vision is to facilitate the Energy Transition in the Eastern Mediterranean, maximizing returns on our core activities and developing a diversified energy portfolio. Based on the above and taking into account the external environment, we have developed a series of initiatives based on three main axes: