One of the main and stable pillars of the Athens Stock Exchange has been the energy sector, with the listed companies supporting the Greek market, taking advantage of the great prospects in the network and RES sector.
It is no coincidence that today the 6+2 mega energy companies are valued at a price of more than 19 million euros, constituting almost 1/5 of the total value of the domestic capital market.
Metlen
Metlen is at the “top” with a capitalization of around 5 billion euros, making it the No. 7 most valuable listed on the Greek stock market. Despite falling 6% through 2024, the stock is still at all-time highs as it marches towards a historic listing on the London Stock Exchange, which is expected within 2025.
PPC – Refineries
PPC, with a valuation of around 4.5 billion euros, is the second largest energy company. It has strengthened by 5% since the beginning of the year, only -7% away from the highs of the year and 14-year highs of 12, 5 euros.
Next are the two refineries, which have come under some pressure lately, mainly due to the extraordinary contribution to last year’s profits, but still represent two very attractive options for investors.
Motor Oil has a market capitalization of 2.4 billion euros, while Helleniq Energy stands at 2.2 billion, reflecting a P/E multiple of just 2.6x and 4.1x, respectively.
Terna – IPTO
Terna Energy has seen its market value increase by at least 20% this year and has exceeded 2.2 billion euros. Of course, the recent deal for the sale of the majority package to the Arabs plays a key role in this upward trend, while a public offer from the main shareholder will follow.
Finally, the share of IPTO, after the looming agreement for the electric connection of Crete – Cyprus, returns above the psychological limit of 500 million euros in terms of valuation.
Cenergy – Intrakat
In addition to the above six purely energy companies, special mention should also be made of Cenergy – Intrakat, which have a strong footprint in the sector.
Considering that the two have a combined market capitalization of 2.6 billion euros (1.8 billion and 805 million, respectively), then the combined value of the 6+2 energy listed soars to over 19 billion euros, which corresponds to almost 1/5 of the capitalization.
The market value of the 6+2 major energy listed companies
• Mytilineos 4.9 billion euros
• PPC 4.4 billion euros
• Motor Oil 2.4 billion euros
• Helleniq Energy 2.2 billion euros
• Terna Energy 2.2 billion euros
• Cenergy 1.8 billion euros
• Intrakat 805 million euros
• IPTO 512 million euros
