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Hellenic Petroleum

ATSE:ELPE
Snowflake Description

Excellent balance sheet average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
ELPE
ATSE
€3B
Market Cap
  1. Home
  2. GR
  3. Energy
Company description

Hellenic Petroleum S.A., together with its subsidiaries, operates in the energy sector primarily in Greece, South Eastern Europe, and the East Mediterranean. The last earnings update was 30 days ago. More info.


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ELPE Share Price and Events
7 Day Returns
3.1%
ATSE:ELPE
-0.4%
Europe Oil and Gas
2.9%
GR Market
1 Year Returns
17.2%
ATSE:ELPE
1.6%
Europe Oil and Gas
5.1%
GR Market
ELPE Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Hellenic Petroleum (ELPE) 3.1% 13.4% 2.1% 17.2% 126.8% 38.4%
Europe Oil and Gas -0.4% 0.7% -0.1% 1.6% 33.1% 1.6%
GR Market 2.9% 14.5% 14.6% 5.1% 31% -84%
1 Year Return vs Industry and Market
  • ELPE outperformed the Oil and Gas industry which returned 1.6% over the past year.
  • ELPE outperformed the Market in Greece which returned 5.1% over the past year.
Price Volatility
ELPE
Industry
5yr Volatility vs Market

Value

 Is Hellenic Petroleum undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Hellenic Petroleum to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Hellenic Petroleum.

ATSE:ELPE Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 8 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 25.7%
Perpetual Growth Rate 10-Year GR Government Bond Rate 4.9%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for ATSE:ELPE
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GR Govt Bond Rate 4.9%
Equity Risk Premium S&P Global 15%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.91
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.908 (1 + (1- 29%) (102.91%))
1.383
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.38
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 4.93% + (1.383 * 14.99%)
25.67%

Discounted Cash Flow Calculation for ATSE:ELPE using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Hellenic Petroleum is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

ATSE:ELPE DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 25.67%)
2019 326.00 Analyst x3 259.42
2020 562.00 Analyst x3 355.87
2021 352.00 Analyst x2 177.37
2022 203.00 Analyst x1 81.40
2023 183.23 Est @ -9.74% 58.46
2024 173.44 Est @ -5.34% 44.04
2025 169.53 Est @ -2.26% 34.25
2026 169.36 Est @ -0.1% 27.23
2027 171.74 Est @ 1.41% 21.97
2028 175.98 Est @ 2.47% 17.92
Present value of next 10 years cash flows €1,077.94
ATSE:ELPE DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €175.98 × (1 + 4.93%) ÷ (25.67% – 4.93%)
€890.59
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €890.59 ÷ (1 + 25.67%)10
€90.67
ATSE:ELPE Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €1,077.94 + €90.67
€1,168.61
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €1,168.61 / 305.64
€3.82
ATSE:ELPE Discount to Share Price
Calculation Result
Value per share (EUR) From above. €3.82
Current discount Discount to share price of €8.73
= -1 x (€8.73 - €3.82) / €3.82
-128.3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Hellenic Petroleum is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Hellenic Petroleum's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Hellenic Petroleum's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ATSE:ELPE PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in EUR €0.60
ATSE:ELPE Share Price ** ATSE (2019-06-14) in EUR €8.73
Europe Oil and Gas Industry PE Ratio Median Figure of 91 Publicly-Listed Oil and Gas Companies 9.3x
Greece Market PE Ratio Median Figure of 97 Publicly-Listed Companies 15.65x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Hellenic Petroleum.

ATSE:ELPE PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ATSE:ELPE Share Price ÷ EPS (both in EUR)

= 8.73 ÷ 0.60

14.52x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Hellenic Petroleum is overvalued based on earnings compared to the Europe Oil and Gas industry average.
  • Hellenic Petroleum is good value based on earnings compared to the Greece market.
Price based on expected Growth
Does Hellenic Petroleum's expected growth come at a high price?
Raw Data
ATSE:ELPE PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 14.52x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts
16.7%per year
Europe Oil and Gas Industry PEG Ratio Median Figure of 58 Publicly-Listed Oil and Gas Companies 0.89x
Greece Market PEG Ratio Median Figure of 22 Publicly-Listed Companies 1.34x

*Line of best fit is calculated by linear regression .

ATSE:ELPE PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 14.52x ÷ 16.7%

0.87x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Hellenic Petroleum is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Hellenic Petroleum's assets?
Raw Data
ATSE:ELPE PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in EUR €7.60
ATSE:ELPE Share Price * ATSE (2019-06-14) in EUR €8.73
Europe Oil and Gas Industry PB Ratio Median Figure of 188 Publicly-Listed Oil and Gas Companies 0.81x
Greece Market PB Ratio Median Figure of 138 Publicly-Listed Companies 0.91x
ATSE:ELPE PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ATSE:ELPE Share Price ÷ Book Value per Share (both in EUR)

= 8.73 ÷ 7.60

1.15x

* Primary Listing of Hellenic Petroleum.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Hellenic Petroleum is overvalued based on assets compared to the Europe Oil and Gas industry average.
X
Value checks
We assess Hellenic Petroleum's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Oil and Gas industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Oil and Gas industry average (and greater than 0)? (1 check)
  5. Hellenic Petroleum has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Hellenic Petroleum expected to perform in the next 1 to 3 years based on estimates from 8 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
16.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Hellenic Petroleum expected to grow at an attractive rate?
  • Hellenic Petroleum's earnings growth is expected to exceed the low risk savings rate of 4.9%.
Growth vs Market Checks
  • Hellenic Petroleum's earnings growth is expected to exceed the Greece market average.
  • Hellenic Petroleum's revenue growth is positive but not above the Greece market average.
Annual Growth Rates Comparison
Raw Data
ATSE:ELPE Future Growth Rates Data Sources
Data Point Source Value (per year)
ATSE:ELPE Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts 16.7%
ATSE:ELPE Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 8 Analysts 2.8%
Europe Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average 6.4%
Europe Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 2.5%
Greece Market Earnings Growth Rate Market Cap Weighted Average 16.6%
Greece Market Revenue Growth Rate Market Cap Weighted Average 3.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
ATSE:ELPE Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ATSE:ELPE Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 513 326
2021-12-31 9,572 642 373 4
2020-12-31 9,443 718 398 8
2019-12-31 8,415 648 208 2
ATSE:ELPE Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-03-31 9,592 598 184
2018-12-31 9,769 503 212
2018-09-30 9,447 458 467
2018-06-30 8,596 341 438
2018-03-31 8,097 310 332
2017-12-31 7,995 443 381
2017-09-30 7,695 382 416
2017-06-30 7,739 224 390
2017-03-31 7,432 1,032 421
2016-12-31 6,613 -334 330
2016-09-30 6,610 946 127
2016-06-30 6,579 -236 87

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Hellenic Petroleum's earnings are expected to grow by 16.7% yearly, however this is not considered high growth (20% yearly).
  • Hellenic Petroleum's revenue is expected to grow by 2.8% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
ATSE:ELPE Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below

All data from Hellenic Petroleum Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ATSE:ELPE Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 1.07 1.07 1.07 1.00
2021-12-31 1.15 1.40 0.91 3.00
2020-12-31 1.27 1.52 1.06 7.00
2019-12-31 0.68 0.68 0.68 2.00
ATSE:ELPE Past Financials Data
Date (Data in EUR Millions) EPS *
2019-03-31 0.60
2018-12-31 0.69
2018-09-30 1.52
2018-06-30 1.43
2018-03-31 1.08
2017-12-31 1.25
2017-09-30 1.36
2017-06-30 1.28
2017-03-31 1.38
2016-12-31 1.08
2016-09-30 0.42
2016-06-30 0.29

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Hellenic Petroleum is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Hellenic Petroleum's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Hellenic Petroleum has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Hellenic Petroleum performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Hellenic Petroleum's growth in the last year to its industry (Oil and Gas).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Hellenic Petroleum has delivered over 20% year on year earnings growth in the past 5 years.
  • Hellenic Petroleum's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Hellenic Petroleum's 1-year earnings growth is negative, it can't be compared to the Europe Oil and Gas industry average.
Earnings and Revenue History
Hellenic Petroleum's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Hellenic Petroleum Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ATSE:ELPE Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 9,591.99 184.46 476.35
2018-12-31 9,769.16 211.61 476.35
2018-09-30 9,447.33 467.41 349.95
2018-06-30 8,595.90 437.53 327.24
2018-03-31 8,097.32 331.82 313.56
2017-12-31 7,994.69 381.37 409.82
2017-09-30 7,694.76 415.76 397.04
2017-06-30 7,739.15 390.35 398.72
2017-03-31 7,432.01 421.18 408.53
2016-12-31 6,613.25 329.76 410.91
2016-09-30 6,610.09 126.98 428.39
2016-06-30 6,578.73 87.28 451.10
2016-03-31 6,670.44 60.80 452.35
2015-12-31 7,302.94 46.68 458.77
2015-09-30 7,882.72 -121.95 460.29
2015-06-30 8,679.82 -210.98 451.67
2015-03-31 9,281.52 -309.16 445.58
2014-12-31 9,478.44 -365.29 444.52
2014-09-30 9,322.84 -236.93 447.53
2014-06-30 9,339.78 -184.29 445.46
2014-03-31 9,509.38 -229.25 446.18
2013-12-31 9,674.32 -269.23 450.60
2013-09-30 10,311.16 -199.38 436.61
2013-06-30 10,187.14 -130.93 450.32
2013-03-31 10,013.26 -63.38 443.30
2012-12-31 10,468.87 85.55 441.19
2012-09-30 10,104.70 65.80 465.08
2012-06-30 9,786.81 -21.50 455.98 -1.82

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Hellenic Petroleum has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Hellenic Petroleum used its assets less efficiently than the Europe Oil and Gas industry average last year based on Return on Assets.
  • Hellenic Petroleum has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Hellenic Petroleum's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Oil and Gas industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Hellenic Petroleum has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Hellenic Petroleum's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Hellenic Petroleum's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Hellenic Petroleum is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Hellenic Petroleum's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Hellenic Petroleum's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Hellenic Petroleum Company Filings, last reported 2 months ago.

ATSE:ELPE Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 2,449.26 2,745.86 1,223.08
2018-12-31 2,394.73 2,735.96 1,275.16
2018-09-30 2,647.23 2,827.36 1,052.24
2018-06-30 2,515.01 2,826.21 908.12
2018-03-31 2,445.74 2,657.32 683.27
2017-12-31 2,371.57 2,820.50 873.26
2017-09-30 2,327.35 2,663.96 704.05
2017-06-30 2,224.41 2,639.05 689.44
2017-03-31 2,254.32 2,865.90 935.44
2016-12-31 2,141.64 2,842.50 924.06
2016-09-30 1,992.33 2,913.85 973.23
2016-06-30 1,915.32 3,104.24 1,244.07
2016-03-31 1,813.05 3,227.78 564.27
2015-12-31 1,790.27 3,230.99 1,952.81
2015-09-30 1,830.98 3,203.44 638.25
2015-06-30 1,830.81 3,325.72 2,043.07
2015-03-31 1,749.82 3,241.64 955.21
2014-12-31 1,728.55 2,989.64 1,647.84
2014-09-30 2,067.74 3,060.71 1,079.05
2014-06-30 2,124.73 2,896.91 1,070.75
2014-03-31 2,171.54 2,677.52 143.90
2013-12-31 2,214.47 2,650.19 759.60
2013-09-30 2,309.94 2,789.31 295.57
2013-06-30 2,296.57 2,699.76 695.76
2013-03-31 2,434.43 2,601.20 411.09
2012-12-31 2,496.23 2,758.37 701.06
2012-09-30 2,508.65 2,729.68 309.78
2012-06-30 2,441.85 2,755.59 935.99
  • Hellenic Petroleum's level of debt (112.1%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (123.4% vs 112.1% today).
  • Debt is well covered by operating cash flow (21.8%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 3.3x coverage).
X
Financial health checks
We assess Hellenic Petroleum's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Hellenic Petroleum has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Hellenic Petroleum's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
5.73%
Current annual income from Hellenic Petroleum dividends. Estimated to be 6.02% next year.
If you bought €2,000 of Hellenic Petroleum shares you are expected to receive €115 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Hellenic Petroleum's pays a higher dividend yield than the bottom 25% of dividend payers in Greece (1.87%).
  • Hellenic Petroleum's dividend is above the markets top 25% of dividend payers in Greece (4.11%).
Upcoming dividend payment

Purchase Hellenic Petroleum before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
ATSE:ELPE Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
Europe Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 58 Stocks 5.5%
Greece Market Average Dividend Yield Market Cap Weighted Average of 50 Stocks 4.1%
Greece Minimum Threshold Dividend Yield 10th Percentile 1.3%
Greece Bottom 25% Dividend Yield 25th Percentile 1.9%
Greece Top 25% Dividend Yield 75th Percentile 4.1%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

ATSE:ELPE Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 0.60 1.00
2021-12-31 0.57 5.00
2020-12-31 0.55 9.00
2019-12-31 0.44 6.00
ATSE:ELPE Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-02-28 0.500 6.032
2018-11-12 0.500 6.584
2018-11-08 0.500 6.599
2018-08-30 0.500 6.910
2018-02-23 0.500 6.646
2018-02-22 0.500 5.999
2017-11-09 0.300 3.866
2017-09-01 0.300 4.099
2017-08-31 0.300 3.942
2017-02-24 0.200 3.171
2017-02-23 0.200 4.202
2014-11-11 0.000 0.000
2014-11-10 0.000 0.000
2014-07-31 0.000 0.000
2014-07-30 0.000 0.000
2014-05-28 0.000 0.000
2014-05-27 0.000 0.000
2014-03-04 0.000 0.000
2013-06-28 0.150 1.936
2012-02-29 0.450 7.090
2012-02-23 0.450 8.049
2011-02-25 0.450 7.074
2011-02-24 0.450 6.065
2010-06-14 0.450 7.483

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Hellenic Petroleum has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but Hellenic Petroleum only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of Hellenic Petroleum's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2x coverage).
X
Income/ dividend checks
We assess Hellenic Petroleum's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.3%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Hellenic Petroleum afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Hellenic Petroleum has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Hellenic Petroleum's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Efstathios Tsotsoros
TENURE AS CEO 1.2 years
CEO Bio

Mr. Efstathios Tsotsoros is the Founder, Chairman and Chief Executive Officer of the Broadcasting Group Alpha. Mr. Tsotsoros serves as Vice President and General Manager of Athens Regulatory Plan and Environmental Protection Organization. He serves as the Chief Executive Officer of Business Reconstruction Organization. He serves as a Board Member and Chief Executive Officer of various companies in the private sector. He also served as an Advisor to the Minister of Energy, to Athens Mayor, to the President of the Greek Technical Chamber. He has been the Chairman of Hellenic Petroleum S.A. since July 5, 2015 and its Chief Executive Officer since April 2018. Since 1975, he is a Professor at the Panteion University with specialty in Economic Development and Social Transformation. He serves as a Board Member of Business Reconstruction Organization. He serves as a Director of PPC. He served as a Member of the Council and the Senate of the University. He served as a Director of the Postgraduate Program, as well as of the Economic and Social Research Centre of the Department of Sociology. He has particularly important and extensive experience in senior management positions in public and private sectors as well as in local government. He has also occupied the post of the Chairman of the National Committee of Programme Agreements and Development Contracts. He has participated in research projects and in the preparation of techno-economic studies, in significant investment projects as well as in national and regional development programs. His scientific research has been published by the Educational Institutions of the National Bank of Greece, by Commerce and Piraeus Banks, by the National Research Foundation as well as by Papazisis Publishers. Mr. Tsotsoros is an Electrical-Mechanical Engineer from NTUA, graduate Economist of the Department of Economics at the University of Athens.

CEO Compensation
  • Insufficient data for Efstathios to compare compensation growth.
  • Insufficient data for Efstathios to establish whether their remuneration is reasonable compared to companies of similar size in .
Management Team Tenure

Average tenure of the Hellenic Petroleum management team in years:

6.5
Average Tenure
  • The average tenure for the Hellenic Petroleum management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Efstathios Tsotsoros

TITLE
Chairman & CEO
TENURE
1.2 yrs

Andreas Shiamishis

TITLE
Deputy CEO
TENURE
13.6 yrs

Stefanos Papadimitriou

TITLE
Accounting Director

N. Skandalis

TITLE
Chief Technical Officer
TENURE
9.4 yrs

Stamatia Psyllaki

TITLE
General Manager Group Human Resources & Administrative Services
TENURE
3.7 yrs

Ioannis Apsouris

TITLE
General Manager of Group Legal Services

H. Panitsidis

TITLE
Head of Elefsina Refinery Upgrade Project and General Manager

Georgios Alexopoulos

TITLE
GM of Group Strategic Planning & New Business and Executive Director

Ioannis Grigoriou

TITLE
General Manager Exploration & Production

Stylianos Triantafyllou

TITLE
Deputy GM of Refining and Head of Group’s Large Maintenance & Projects Division
Board of Directors Tenure

Average tenure and age of the Hellenic Petroleum board of directors in years:

5
Average Tenure
65
Average Age
  • The tenure for the Hellenic Petroleum board of directors is about average.
Board of Directors

Efstathios Tsotsoros

TITLE
Chairman & CEO
TENURE
3.9 yrs

Andreas Shiamishis

TITLE
Deputy CEO
TENURE
6.1 yrs

Georgios Alexopoulos

TITLE
GM of Group Strategic Planning & New Business and Executive Director
TENURE
2 yrs

Spyros Pantelias

TITLE
Independent Non Executive Director
TENURE
9.5 yrs

Theodoros Pantalakis

TITLE
Independent Non Executive Director
AGE
64
TENURE
9.5 yrs

Theodoros-Achilleas Vardas

TITLE
Non-Executive Director
AGE
68
TENURE
12.4 yrs

Konstantinos Papagiannopoulos

TITLE
Employees’ Representative Non-Executive Director
TENURE
6 yrs

Georgios Grigoriou

TITLE
Non-Executive Director
TENURE
4.1 yrs

Dimitrios Kontofakas

TITLE
Non-Executive Director
AGE
65
TENURE
3.7 yrs

Vasileios Kounelis

TITLE
Non-Executive Director
TENURE
2.6 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Hellenic Petroleum's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Hellenic Petroleum has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Hellenic Petroleum S.A. (ATH:ELPE) Has Attractive Fundamentals

ATSE:ELPE Historical Dividend Yield, June 4th 2019 Next Steps: For Hellenic Petroleum, I've put together three relevant factors you should look at: Future Outlook: What are well-informed industry analysts predicting for ELPE’s future growth? … Take a look at our free research report of analyst consensus for ELPE’s outlook. … Go into more detail in the past track record analysis and take a look at the free visual representations of our analysis for more clarity.

Simply Wall St -

Should Hellenic Petroleum (ATH:ELPE) Be Disappointed With Their 86% Profit?

One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement. … During three years of share price growth, Hellenic Petroleum achieved compound earnings per share growth of 45% per year. … We note that for Hellenic Petroleum the TSR over the last 3 years was 108%, which is better than the share price return mentioned above.

Simply Wall St -

Is Hellenic Petroleum S.A.'s (ATH:ELPE) Stock Available For A Good Price After Accounting For Growth?

Hellenic Petroleum's extremely high growth potential in the near future is attracting investors. … But, to be able to properly assess the value of a high-growth stock such as Hellenic Petroleum, we must incorporate its earnings growth in our valuation. … This tells us that when we include its growth in our analysis Hellenic Petroleum's stock can be considered relatively cheap , based on fundamental analysis.

Simply Wall St -

Read This Before Judging Hellenic Petroleum S.A.'s (ATH:ELPE) ROE

To keep the lesson grounded in practicality, we'll use ROE to better understand Hellenic Petroleum S.A. … Another way to think of that is that for every €1 worth of equity in the company, it was able to earn €0.090. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Is Hellenic Petroleum S.A. (ATH:ELPE) A Financially Sound Company?

Small-caps and large-caps are wildly popular among investors; however, mid-cap stocks, such as Hellenic Petroleum S.A. … Remember this is a very top-level look that focuses exclusively on financial health, so I recommend a deeper analysis. … See our latest analysis for Hellenic Petroleum

Simply Wall St -

Is Hellenic Petroleum S.A. (ATH:ELPE) A Financially Sound Company?

(ATH:ELPE) is a small-cap stock with a market capitalization of €2.6b. … While investors primarily focus on the growth potential and competitive landscape of the small-cap companies, they end up ignoring a key aspect, which could be the biggest threat to its existence: its financial health. … Assessing first and foremost the financial health is.

Simply Wall St -

Is Hellenic Petroleum S.A.'s (ATH:ELPE) Stock Available For A Good Price After Accounting For Growth?

Growth expectations for Hellenic Petroleum S.A. … View our latest analysis for Hellenic Petroleum? … The excitement around Hellenic Petroleum's growth potential is not unfounded

Simply Wall St -

Does Market Volatility Impact Hellenic Petroleum S.A.'s (ATH:ELPE) Share Price?

The second type is the broader market volatility, which you cannot diversify away, since it arises from macroeconomic factors which directly affects all the stocks on the market. … Beta can be a useful tool to understand how much a stock is influenced by market risk (volatility). … A stock with a beta greater than one is more sensitive to broader market movements than a stock with a beta of less than one.

Simply Wall St -

What Should We Expect From Hellenic Petroleum S.A.'s (ATH:ELPE) Earnings In The Year Ahead?

(ATH:ELPE) announced its earnings release on 31 December 2018, … analyst forecasts seem fairly subdued, … the higher past 5-year average growth rate of 63%.

Simply Wall St -

What Do Analysts Think About The Future Of Hellenic Petroleum S.A.'s (ATH:ELPE)?

In December 2018, Hellenic Petroleum S.A. … (ATH:ELPE) released its most recent earnings announcement, whicha … indicated

Simply Wall St -

Company Info

Description

Hellenic Petroleum S.A., together with its subsidiaries, operates in the energy sector primarily in Greece, South Eastern Europe, and the East Mediterranean. The company operates through the Refining, Marketing, Exploration and Production of Hydrocarbons, Petro-chemicals, Gas and Power, and Other segments. It engages in the supply, refining, and trading of petroleum products; marketing of fuels; production and trading of petrochemicals/chemicals; exploration and production of oil and gas; and generation and trading of power. It is also involved in the production, distribution, and trading of renewable energy sources; provision of financing and other financial services; retail trade of liquid fuels and LPG; operation of tankers; exploration and production of hydrocarbons; trade, distribution, and storage of oil products; operation of crude oil pipelines; owning of vessels; production and marketing of polypropylene, BOPP films, and solvents; trading of imported plastics and chemicals; and provision of treasury services. In addition, the company provides consulting and engineering services, as well as participates in the development of cross-border gas pipelines. Hellenic Petroleum S.A. operates a network of 1,738 service stations, 15 fuel storage and distribution facilities, 23 aircraft refueling stations in the Greek airports, 2 LPG bottling plants, and 1 lubricant production and packing site in Greece. Hellenic Petroleum S.A. was founded in 1998 and is headquartered in Maroussi, Greece.

Details
Name: Hellenic Petroleum S.A.
ELPE
Exchange: ATSE
Founded: 1998
€2,668,195,165
305,635,185
Website: http://www.helpe.gr
Address: Hellenic Petroleum S.A.
8A Chimarras Street,
Maroussi,
151 25,
Greece
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ATSE ELPE Ordinary Shares The Athens Stock Exchange GR EUR 01. Jul 1998
DB HLPN Ordinary Shares Deutsche Boerse AG DE EUR 01. Jul 1998
Number of employees
Current staff
Staff numbers
3,481
Hellenic Petroleum employees.
Industry
Oil and Gas Refining and Marketing
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/15 20:45
End of day share price update: 2019/06/14 00:00
Last estimates confirmation: 2019/06/07
Last earnings filing: 2019/05/16
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.