Social Product

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.

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

0 million
of initiatives
to the society
0.0 billion
in indirect taxes
to the Greek State

Interested parties include:

  • Employees
  • Customers & Consumers
  • Fuels station managers
  • Suppliers & Partners
  • Shareholders, bondholders, Capital Markets & other Capital Providers
  • Media & Opinion Leaders
  • Broader society (Organizations, NGOs etc.)
  • 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 our 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 in; 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 to the authorities a significant part of the total indirect taxes (excise duty and VAT) raised in total 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 has placed an emphasis on supporting socially vulnerable groups and young people, was substantial.

In 2019, the Group’s turnover amounted to €8,857 million (2018: €9,769 million) while the social product amounted to €1.9 billion (2018: €1.7 billion) distributed as follows:

  • €236 million distributed to employees (salaries and benefits)
  • €197 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
  • €155 million distributed to shareholders as dividends
  • €6 million distributed through initiatives for society
Corporate Social Responsibility

HELLENIC PETROLEUM’s commitment to gradually integrate the global Sustainable Development Goals into all of its activities is now a top priority and the Group is in the process of redesigning its strategy and adapting its operational functions to new trends and practices. This will enable the Group to respond better to society’s expectations as a responsible social partner, whilst creating the structures needed to be ready to exploit opportunities and face challenges that will arise from future changes in both technology and human resources.

The role of Corporate Responsibility in the Group

The Group’s material topics continue to be the following:

Health and safety, employment, environmental protection, waste management and circular economy, reducing air emissions and improving air quality, adapting to climate change and limiting its consequences, operational transparency and fighting against corruption across the value chain, providing a continuous flow of high quality products and finally, continuing to contribute to society and social value creation.

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 concerning all social groups, supports local economies and local suppliers, and offers employment and opportunities for young people.

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

Through its social work, the Group promotes development in areas, which have 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.

Scholarships for postgraduate studies
in Greek and international universities
Scholarship Programs in
Greece and abroad
Young Generation

The Group implements initiatives and actions focused on education and 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 neighboring 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 donating equipment to science laboratories in schools throughout Greece.

Society / Health

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

  • heating oil donations to schools, care centers for the elderly in neighboring municipalities, refugee camps and NGOs at national level,
  • supporting the operation of social groceries in our local communities, and
  • supporting hospitals, health centers, NGOs, foundations and charitable organizations.

Furthermore, it implements programs aimed at providing assistance and support to people with disabilities, as well as preventative medicine programs for students, whilst also participating in volunteer and informative human rights initiatives.

Sustainable Cities / Environment

The protection of the environment and the implementation of infrastructure projects for sustainable cities are key pillars of the Group’s corporate social responsibility, which it ensures in the installation, monitoring and maintenance of environmental stations in the areas in which it operates and applying the best available techniques for the operation of all its facilities. Moreover, it carries out studies and implements projects for environment protection and energy saving, in collaboration with the academic community. The Group 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 the quality of life in neighboring municipalities. Finally, it implements a long term educational and environmental awareness program targeted towards students living in remote areas all over Greece.

Culture / Sports

The Group supports and participates in all major cultural events in the local communities and broader society aiming at safeguarding and disseminating cultural heritage. It takes initiatives and collaborates with local communities to restore buildings and establish cultural centers, 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 broader society by encouraging and developing the athletic spirit, through sports initiatives for humanitarian purposes and by supporting sports clubs, teams and individual athletes’ efforts.