Q1 2025 HELLENiQ ENERGY Holdings SA Earnings Call Transcript
Ladies and gentlemen, thank you for standing by. I am Mina, your Chorus Call operator. Welcome, and thank you for joining the HELLENiQ ENERGY Holdings conference call and live webcast to present and discuss the first-quarter 2025 financial results. (Operator Instructions)
At this time, I would like to turn the conference over to HELLENiQ ENERGY Holdings management team. Gentlemen, you may now proceed.
Good afternoon. Thank you very much for joining our results for the first-quarter call. Without further ado, let me take you through the highlights of the quarter. First of all, I think it's quite clear in terms of the market, we have some positive and some negative news. On the negative side, we have seen a significant reduction on benchmark margins, which are on average about $3 per barrel lower than the respective number of last year. And they are also lower quarter-on-quarter.
However, the good news is that over
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