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HELLENIC PETROLEUM Group is active in the marketing and distribution of petroleum products, in Greece through its subsidiary EKO ABEE as well as internationally through its subsidiaries in Cyprus, Bulgaria, Serbia, Montenegro and Republic of North Macedonia.
The Group takes advantage of the significant synergies among its networks in Greece and SE Europe in the areas of marketing and commercial policy, through sharing best practices and successful products.
The Group has a key market position in domestic fuel retail through its subsidiary "HELLENIC FUELS AND LUBRICANTS SINGLE MEMBER INDUSTRIAL AND COMMERCIAL S.A.", under EKO and BP brand logos.
In Greece, EKO ABEE’s network of fuel stations amounts over 1,700 out of a total of 5,500 petrol stations in the country. The company owns 15 bulk storage and supply terminals, 23 aircraft refueling stations in the country’s main airports, 2 LPG bottling plants in Northern and Southern Greece and one lubricants blending and packaging unit. This extensive logistics infrastructure has been acquired by gradually taking over and merging a series of companies that have been active in the retail market over the last years.
The acquisition of BP's land fuel operations in Greece in 2009 boosted the Group’s position in the domestic retail market, increased its market share, and created profitable synergies between the two retail companies and the refining sector. The Group has an agreement with BP plc. to extend the exclusive use of the BP trademarks for ground fuels in Greece until the end of 2020, with the possibility of a further renewal until the end of 2025.
The successful implementation of the Group’s strategy for extroversion, innovation and operational optimisation increased the value offered in all fuels marketing activities. The Group maintained its leading position in the market, increasing its share in key products, while growing profitability by supplying competitive and quality fuels and lubricants. On this note, the Group has successfully completed the launch of two innovative differentiated products, the new ΕΚΟ Diesel Avio and ΒΡ Ultimate Diesel.
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The Group international business operates through its subsidiaries in Cyprus, Bulgaria, Serbia, Montenegro and the Republic of North Macedonia, with a total network of c.300 petrol stations.
In Cyprus and Montenegro, the local subsidiaries hold leading positions in their markets.
In Cyprus, the Group operates a network of 94 fuel stations under the EKO brand, boasting a significant market share and presence in the wholesale, aviation and shipping sectors. The company also operates a facility in the port of Larnaca for storing and distributing its products, which is planned to move to privately owned premises in Vassiliko in the next two years. In addition, recently it was recently announced the acquisition of all shares of “Blue Circle Engineering Ltd ”. This development is in line with the broader strategic planning of the Hellenic Petroleum Group to strengthen its presence in Cyprus, with new investments of over €50 million over the current three years.
In Montenegro, the Group’s subsidiary, JUGOPETROL AD owns and operates 41 EKO-branded fuel stations, holding a significant market share. It is also the main wholesale supplier of petroleum products in Montenegro. It operates the only petroleum products storage facility in the country, which is also used to supply third parties as well as the country’s two airports.
In Bulgaria and Serbia, the Group’s subsidiaries recorded rapid growth after 2005 and are currently among the five largest in their sector.
Strong products’ demand, retail network growth and continuous marketing activities led to an increase in sales in most of the Group’s international companies, partly off setting weaker margins and increased competition leading to lower profitability. The vertical integration of commercial subsidiaries with the Group’s refineries was sustained at high levels, with notable financial contribution.
In Bulgaria, the network also expanded and NFR sales increased, however profitability was reduced due to weak margins and higher operating costs.
EKO Serbia’s profitability decreased due to declining retail margins and higher operating costs, despite the increase mostly in wholesale volumes and NFR profitability.
In Montenegro, demand growth in aviation fuels and wholesale led to increased sales; however, profitability was lower due to weaker margins. During 2018, the Company invested in network expansion, as well as the refurbishment of existing petrol stations.
The Group also maintains a strong presence in the retail markets of Bulgaria and Serbia, operating 84 and 50 fuel stations respectively and holding a significant market share. Moreover, EKO Bulgaria has substantially improved its position in the wholesale trading by utilizing export opportunities in the Greek refining sector.
In the Republic of North Macedonia, the network of 26 petrol stations bears the brand name of the OKTA Group subsidiary.