olivLaw · European equity research
Helleniq Energy Ανωνυμη Εταιρεια Συμμετοχων ELPE.AT
Greece · Athens Stock Exchange · ISIN GRS298343005 · Vertical: Listed companies from Greece
At the close of 03 Nov 2026, Helleniq Energy Ανωνυμη Εταιρεια Συμμετοχων (ELPE.AT) stock was 16.77 EUR (−1.58% on the day), with market capitalisation 5.1 bn EUR, P/E 29.4 on diluted EPS of 0.57 EUR over the last 12 months, beta 0.27, 52-week range 7.71–19.64 EUR.
Data as of · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 37.5
- weak (30–45)
- Bollinger (20, 2)
- 16.98 – 19.95
- below the lower band · %B -0.07 · band width 16.1%
- SMA 50 / 200
- 17.61 / 12.26
- mixed trend
- MACD (12, 26, 9)
- -0.03 / 0.28
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | EURO STOXX 50 | vs EURO STOXX 50 | Vertical median | |
|---|---|---|---|---|
| 1 month | −7.8% | −1.0% | −6.8 pp | — |
| 3 months | +27.9% | −3.9% | +31.8 pp | — |
| 6 months | +63.9% | +7.2% | +56.8 pp | — |
| Year to date | +100.6% | +6.6% | +94.0 pp | — |
| 1 year | +112.4% | +9.1% | +103.3 pp | +0.6% |
| 3 years | +123.3% | +47.9% | +75.4 pp | +33.3% |
| 5 years | +179.5% | +43.3% | +136.2 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 67 percentile of its own 3-quarter history (min 4.7, median 14.7, max 37.8; quarters with earnings only).
Fiscal years
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 12.8 bn | 12.8 bn | 11.6 bn |
| Revenue YoY | unavailable | −0.3% | −9.0% |
| Net income | 477.7 m | 59.8 m | 173.4 m |
| Net income YoY | unavailable | −87.5% | +189.9% |
| Diluted EPS | 1.56 | 0.20 | 0.57 |
| Diluted EPS YoY | unavailable | −87.2% | +185.0% |
| net % | 3.7% | 0.5% | 1.5% |
| Free cash flow | unavailable | unavailable | unavailable |
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 858.3 m EUR
- Financial debt
- 2.8 bn EUR
- Net debt
- 1.9 bn EUR
- Equity
- 2.7 bn EUR
- Total assets
- 8.6 bn EUR
- Debt / equity
- 1.02x
- Current ratio
- unavailable
- ROE
- 6.3%
- ROA
- 2.1%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (EUR)
Margins
Income statement · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Revenue | 12.8 bn | 12.8 bn | 11.6 bn | esef· 23 Oct 2026verified |
| Cost of revenue | 11.5 bn | 11.7 bn | 10.5 bn | esef· 23 Oct 2026verified |
| Gross profit | 1.3 bn | 1.1 bn | 1.1 bn | esef· 23 Oct 2026verified |
| Operating income | 736.2 m | 474.8 m | 394.9 m | esef· 23 Oct 2026verified |
| Interest expense | 133.9 m | 132.2 m | 128.1 m | esef· 23 Oct 2026verified |
| Pre-tax income | 604.1 m | 326.1 m | 254.8 m | esef· 23 Oct 2026verified |
| Income tax | 123.5 m | 263.8 m | 77.9 m | esef· 23 Oct 2026verified |
| Net income | 477.7 m | 59.8 m | 173.4 m | esef· 23 Oct 2026verified |
| Diluted EPS | 1.56 | 0.20 | 0.57 | esef· 23 Oct 2026verified |
Balance sheet · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Cash | 919.5 m | 618.1 m | 858.3 m | esef· 23 Oct 2026verified |
| Receivables | 881.0 m | 935.9 m | 1.1 bn | esef· 23 Oct 2026verified |
| Inventories | 1.5 bn | 1.3 bn | 1.3 bn | esef· 23 Oct 2026verified |
| Property, plant & equipment, net | 3.6 bn | 3.7 bn | 4.2 bn | esef· 23 Oct 2026verified |
| Total assets | 8.1 bn | 7.8 bn | 8.6 bn | esef· 23 Oct 2026verified |
| Accounts payable | 1.6 bn | 1.6 bn | 2.0 bn | esef· 23 Oct 2026verified |
| Long-term debt | 1.4 bn | 2.2 bn | 2.8 bn | esef· 23 Oct 2026verified |
| Current liabilities | 3.2 bn | 2.2 bn | 2.4 bn | esef· 23 Oct 2026verified |
| Total liabilities | 5.2 bn | 5.0 bn | 5.8 bn | esef· 23 Oct 2026verified |
| Equity | 2.9 bn | 2.8 bn | 2.7 bn | esef· 23 Oct 2026verified |
| Shares outstanding at year end | 306.2 m | 298.9 m | 304.1 m | esef· 23 Oct 2026derived |
Cash flow · EUR
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 4 of at least 6
- score weight coverage: 33.3% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
03 Nov 2026Source: olivLaw, closing series
Market cap: 5.1 bn EUR
Key indicators
Coverage and freshness
Score by group
33% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 4.71 – 7.26 EUR.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (EUR per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDAunavailable · input data missing
- Peers: P/E4.71 – 7.26 (Mid 6.13)26 companies used · median multiple 10.8x · quartiles 8.3x – 12.7xAEGN.AT, AEM.AT, ALMY.AT, ASCO.AT, ASTAK.AT, AVAX.AT, BELA.AT, BIOKA.AT, BIOSK.AT, BIOT.AT, BRIQ.AT, BYLOT.AT, CENTR.AT, DAIOS.AT, DIMAND.AT, EIS.AT, ELBE.AT, ELHA.AT, ELLAKTOR.AT, ELSTR.AT, ELTON.AT, ETE.AT, EUROB.AT, EYAPS.AT, FAIS.AT, FLEXO.AT
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
Assumptions (illustrative, editorial)
- Risk-free rate
- 3.0%
- Equity risk premium
- 5.5%
- Beta (default)
- 1.00
- Cost of equity
- 8.5%
- Terminal growth
- 2.0%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 4 of at least 6; score weight coverage: 33.3% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 6.1% | 41 (vs peers) | 31% |
| Net margin · Quality | 1.5% | 21 (vs peers) | 19% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | 3.1x | 24 (on a fixed band) | 19% |
| Current ratio · Balance sheet | unavailable | unavailable | — |
| P/E (TTM) · Valuation | 29.4x | 10 (vs peers) | 31% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial24/100 · 1/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality33/100 · 2/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partial10/100 · 1/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
HELLENIQ ENERGY ΑΝΩΝΥΜΗ ΕΤΑΙΡΕΙΑ ΣΥΜΜΕΤΟΧΩΝ (ELPE.AT). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 11.6 bn EUR in 2025; YoY growth -9.0%; net margin 1.5%; ROE 6.4%.
The estimated value range is 4.71–7.26 EUR per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 6.13 EUR, the price of 16.77 EUR leaves a potential of -63.4% (value / price − 1) and a margin of safety of -173.5% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (indicators available: 4 of at least 6; score weight coverage: 33.3% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
What contradicts it
- Net margin: 1.5%
- Interest coverage: 3.1x
- P/E (TTM): 29.4x
- The price is above the estimated value range
Not assessed (insufficient data or a ratio without meaning): FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, Current ratio, EV/EBITDA, FCF yield, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Listed companies from Greece · same country · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| EUROB.ATΤραπεζα Eurobank Ανωνυμη Eταιρεια | 16.7 bn | 12.3 | 14.0% | 39.7% | +2.7% | +33% / +168% |
| ETE.ATΕθνικη Τραπεζα Της Ελλαδος Α.ε. | 14.4 bn | 12.4 | 13.3% | 42.5% | −5.4% | +18% / +153% |
| ELPE.ATHelleniq Energy Ανωνυμη Εταιρεια Συμμετοχων | 5.1 bn | 29.4 | 6.4% | 1.5% | −9.0% | +103% / +120% |
| CENER.ATCenergy Holdings | 4.6 bn | 23.9 | 24.3% | 9.4% | +14.7% | +47% / +212% |
| BELA.ATJumbo Ανωνυμη Εμπορικη Εταιρεια | 3.7 bn | 11.5 | 21.5% | 26.0% | +7.2% | +1% / +14% |
| AKTR.ATΑκtor Ανώνυμη Εταιρεία Συμμετοχών, Τεχνικών Και Ενεργειακών Έργων | 2.1 bn | 114.6 | 6.7% | 1.3% | +11.2% | +11% / +197% |
| EYDAP.ATΕταιρια Υδρευσεως Και Αποχετευσεως Πρωτευουσης Ανωνυμη Εταιρια | 1.5 bn | — | -2.6% | -5.9% | −2.4% | +88% / +139% |
| ELHA.ATEλβαλχαλκορ Ελληνικη Βιομηχανια Χαλκου Και Αλουμινιου Ανωνυμος Εταιρεια | 1.3 bn | 12.6 | 9.8% | 2.9% | +5.1% | +7% / +86% |
| AEGN.ATΑεροπορια Αιγαιου Ανωνυμη Αεροπορικη Εταιρεια | 1.0 bn | 6.8 | 27.7% | 7.9% | +4.6% | −22% / −3% |
| AVAX.ATΑβαξ Ανωνυμη Εταιρεια Εργοληπτικη-Τουριστικη-Εμπορικη-Βιομηχανικη-Οικοδομικων Υλικων & Μηχανηματων | 502.7 m | 10.6 | 25.9% | 5.0% | +47.1% | +39% / +122% |
| BYLOT.ATBally's Intralot Α.ε. | 469.8 m | 15.4 | -9.3% | -12.6% | +34.8% | +13% / +20% |
| ELLAKTOR.ATΕλλακτωρ Ανωνυμη Εταιρεια | 427.7 m | 2.7 | 26.1% | 175.2% | −74.8% | −31% / −43% |
| AEM.ATAlter Ego Media Α.ε. | 350.5 m | 17.8 | 18.3% | 14.0% | +12.6% | −3% / unavailable |
| ALMY.ATΑλουμυλ Βιομηχανια Αλουμινιου Αε | 321.1 m | 10.5 | 23.5% | 6.0% | +11.7% | +15% / +119% |
| DIMAND.ATDimand Ανωνυμη Εταιρεια Αξιοποιησης Και Εκμεταλλευσης Ακινητων Και Κατασκευων Υπηρεσιων Και Συμμετοχων | 270.6 m | 7.7 | 18.5% | 58.5% | +110.6% | +44% / +30% |
| EYAPS.ATΕταιρεια Υδρευσης & Αποχετευσης Θεσσαλονικης Α.ε. | 172.2 m | 22.4 | 4.1% | 8.8% | +2.4% | +26% / +44% |
| EVR.ATΕυρώπη Holdings Α.ε. | 168.6 m | 37.2 | 2.9% | 30.7% | +435.3% | −32% / +33% |
| BRIQ.ATBriq Properties Ανωνυμη Εταιρεια Επενδυσεων Σε Ακινητη Περιουσια | 152.2 m | 6.0 | 15.5% | 116.9% | +37.8% | +15% / +73% |
| FAIS.ATΦαις Συμμετοχων Ανωνυμη Εταιρεια | 116.1 m | 8.7 | 22.1% | 6.3% | +12.9% | −7% / unavailable |
| DAIOS.ATΔαϊος Πλαστικα Ανωνυμη Βιομηχανικη Εμπορικη Εταιρεια Α.ε. | 100.5 m | 10.2 | 14.0% | 15.6% | +9.1% | −6% / +109% |
| ASTAK.ATAlpha Real Estate Services Ae | 96.1 m | 12.8 | 10.4% | 30.3% | +22.4% | −5% / −6% |
| FLEXO.ATFlexopack Ανωνυμη Εμπορικη Και Βιομηχανικη Εταιρεια Πλαστικων | 92.5 m | 8.3 | 8.3% | 6.8% | +4.6% | −2% / −2% |
| ASCO.ATA.s. Εμπορικη-Βιομηχανικη Εταιρια Η/υ & Παιχνιδιων Α.ε. | 59.5 m | 10.4 | 14.1% | 15.8% | +16.4% | +10% / +105% |
| AVE.ATAve Α.ε. | 50.9 m | — | -25.2% | -7.4% | +8.2% | −7% / −12% |
| ELTON.ATΕλτον Διεθνους Εμποριου Ανωνυμη Εμπορικη Βιομηχανικη Εταιρεια | 46.8 m | 13.7 | 4.9% | 1.9% | +8.6% | −12% / −19% |
1- and 3-year price returns: for ELPE.AT from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (EUR)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 8.97 Total return -47% · Per year -47% | 15.93 Total return -5% · Per year -5% | 24.11 Total return 44% · Per year 44% |
| 3 years | 7.12 Total return -58% · Per year -25% | 14.38 Total return -14% · Per year -5% | 24.11 Total return 44% · Per year 13% |
| 5 years | 5.65 Total return -66% · Per year -20% | 12.98 Total return -23% · Per year -5% | 24.11 Total return 44% · Per year 8% |
- Exit P/E± 3.59
- Net margin± 2.52
- Annual revenue growth± 2.27
- Annual dilution± 0.21
AI analysis
The qualitative analysis has not been written for this company yet.
Products, market & competition
The qualitative analysis has not been written for this company yet.
News & filings
In the press
No news in our archive over the last 180 days.
Annual reports (ESEF)
- Annual report 202523 Oct 2026
- Annual report 202408 May 2025
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.