Refiner Helleniq Energy saw its earnings skyrocket in the first half of the year. The group announced comparable EBITDA of €736 million, compared to €401 million in the first half of 2025, a rise of 83%. Net profits rose from €128 million to €393 million, or 207%.
Profitability was helped by high margins in refined products and higher exports in diesel and airplane fuel to Europe.
First-half results also reflect the group’s flexibility in diversifying its crude sources in the face of instability in the Middle East and concentrating its production on high-demand, high-margin products, Helleniq Energy CEO Andreas Shiamishis said.
Production of aircraft and diesel fuel accounted for 56% of total production in the second quarter (April-June). The group’s three refineries cover 60% of the need of the domestic market and exports (1.7 million tons) represent 48% of total sales.
The trend of increased exports to European countries facing shortages in aircraft and diesel fuel is even stronger in the third quarter, Shiamishis added.
