The new knives in ND and a quiz-Laskaridis’ new big deal-Tips for Jumbo, refineries, AS Company, ADPS

What AS Company’s half-year showed, where the bar is set for Jumbo. Early bond repayment by Attica Department Stores. Buyers returned to Motor Oil - Helleniq Energy.

The new knives in ND and a quiz-Laskaridis’ new big deal-Tips for Jumbo, refineries, AS Company, ADPS
Εικόνα με χρήση τεχνητής νοημοσύνης (AI generated image)

This article is an AI translation of an original piece published in Greek. Read original

NEW DEMOCRACY: Internal party “knives” came out yesterday in ND, during the vote in the Parliament plenary, on lifting the immunity of Lefteris Avgenakis and Makarios Lazaridis.

Both were voted down with 151 votes each; however, the absence of party discipline and the conscience vote gave blue MPs the option to διαφοροποιηθούν or simply… be absent.

Characteristic was the case of the Kavala MP, Giannis Paschalidis, who, without even keeping up appearances, wanted to… challenge his fellow local, M. Lazaridis, by voting “present” (the only one in the vote).

Moreover, Giannis Kefalogiannis, Giannis Oikonomou and Angelos Syrigos abstained from the two votes, while they participated normally in the vote on lifting the immunity of Zoi Konstantopoulou.

But there were also those who preferred not to participate at all in the entire set of votes, neither for the two blue MPs nor for the president of Course of Freedom: Dimitris Avramopoulos, Dora Bakoyannis and Maximos Senetakis, MP for Heraklion and internal party rival of L. Avgenakis.

P.S. A category of his own is the Deputy Foreign Minister, Giannis Loverdos, who apparently by mistake voted in favor of lifting Lefteris Avgenakis’ immunity and against lifting Zoi Konstantopoulou’s immunity!

 

NEW DEMOCRACY II: Makis Voridis and Adonis Georgiadis disagreed with Dora Bakoyannis’ public observations about ministers’ arrogance.

The representatives of the popular right in ND wanted to lower the tone and, when asked about it, moved along a different line from the “battle-hardened” Chania MP.

“I like and respect Ms. Bakoyannis very much, but I do not see what she said,” stressed the Health Minister (on Action24). As he said, “I don’t think anyone has gotten carried away. I, in any case, try to be humble, to answer everyone and to be available for whatever is needed. No one can tell me that I’ve ‘gotten carried away.’ Beyond that, these are also a matter of each person’s taste,” he noted.

But Mr. Voridis also observed that he has not seen arrogant people in the government. “Shall we define ‘getting carried away’? How is it expressed? It is expressed when you do not listen to citizens. It is expressed when you disdain popular demands, when a citizen tells you something and you tell him ‘you don’t know what’s going on.’ I don’t know why she said it; that is her opinion.”

As for Ms. Bakoyannis herself, she insists on her view, with new… barbs: “The government is being wronged by phenomena of arrogant behavior. They do injustice to the scale of the effort being made,” she said (on Ertnews). She also argued that “government officials ought to listen more to citizens and not limit themselves to monologues”.

Heavy words…

 

QUIZ: He is one of the most experienced blue executives, an MP for many consecutive years, a former minister, and he believes he still has much to offer.

As the column is informed, this particular executive wants in the next elections not to throw himself once again into the battle of the preference vote, but to be included in an electable position on the ND State ballot.

In fact, we learn that there has been a relevant discussion with the prime minister as well, who, however, does not agree with the executive’s wish.

Something that has led their by-definition close relations into… low barometric pressure.

 

LASKARIDIS: Greek shipowner Athanasios Laskaridis is at the center of yet another major deal in the VLCC market, as Trafigura is said to be close to acquiring the newbuilding VLCC Hyde Park I from his group.

According to brokers, the 306,000 dwt vessel, which is being built in China and is expected to be delivered in November, is changing hands for about $168 million. Trafigura had bought the sister ship Las Palmas from Laskaridis in May for $163 million, which was renamed Volare and joined the fleet of the new Volare Shipping.

The price of Hyde Park I is lower than the $200 million recently paid for another VLCC resale and is significantly below the about $250 million reportedly being sought for other ships. Delivery time and place now play a decisive role in valuations, with immediately available VLCCs in the Middle East commanding particularly high prices.

 

SHIPPING: Greece’s Spring Marine Management is acquiring an equity stake in Britain’s Sulnox, a green fuels technology company backed, among others, by shipowner Idan Ofer, while at the same time expanding its cooperation with the company.

Spring Marine will buy 2.75 million Sulnox shares for up to £1.1 million, acquiring a 1.78% stake. At the same time, it signed a new four-year supply agreement for the Sulnox Eco additive, covering at least 34 ships, versus 28 previously, and 600,000 liters of product.

Spring Marine has been using Sulnox Eco since 2023 and reports average fuel savings of 5%, as well as benefits in engine operation and maintenance, with cleaner components, fewer residues and lower emissions.


ATTICA STORES: During the April-August period, Attica Department Stores (Attica Stores) proceeded with the early repayment of loan obligations of 10 million euros to National Bank, out of the 15 million euros of the common bond loan maturing in May 2027, making use of strong cash flow generation.

On June 30, its bank borrowing stood at 28.5 million euros, leases, under IFRS 16, at 261.2 million euros, and its cash reserves at 23.3 million euros.

Leases decreased by 4.1 million euros during the first half, due to the closure of the store at The Mall Athens.

 

ATTICA STORES II: Attica Stores sold its stake in Retail Vision, a few months before its listing on Euronext Athens. However, it has granted Retail Vision the right of exclusive use of the “Attica selection” trademarks for all covered services, which concern commercial activity within Athens International Airport (AIA).

It also continues to maintain a guarantee obligation toward AIA for the proper execution of the operating contract of the Attica Selection store.

 

REFINERIES: The shares of the two refineries returned to an upward channel in yesterday’s session, after Tuesday’s profit taking, following crude prices “further north.”

Oil was declining yesterday in morning trading; however, it later recovered, with Brent once again crossing the $100 threshold, after the statements of the American Secretary of State Marco Rubio that an agreement with Iran would require a lot of time and work.

Motor Oil and Helleniq Energy followed crude prices, moving into strong gains from losses.

Motor Oil posted a strong rise of nearly 3%, to 66.2 euros. It is noted that the stock had completed three consecutive declining sessions, falling nearly 8% from the high of 69.95 euros.

Helleniq Energy made a similar move, closing up 2.6% at 17.29 euros, after three consecutive declining sessions, with cumulative losses of 7.6%.

 

JUMBO: Optima takes a positive tone on Jumbo’s first-half 2026 results, which are being published today before the market opens.

The brokerage estimates that sales will show an increase of 4% to €517.2 million, while EBITDA are expected at €171.7 million, up 3.8%. Net profits are forecast at €121 million, up 3.3%.

The gross margin is estimated at 53.5%, versus 53.9% in the corresponding period last year, due to the increasing contribution of the franchise, which operates with lower margins.

On the front of returns to shareholders, Optima calculates total distributions of €2.20 per share for 2026, corresponding to a dividend yield of 8.78%.

The brokerage maintains a positive view on Jumbo, highlighting zero borrowing, strong liquidity and franchise expansion. The stock is trading at 10.5x P/E for 2026, versus 13.2x for the sector.

 

AS COMPANY: Cost control was reflected in the listed company’s half-year figures. Sales rose only 4.2%, while cost of goods sold decreased by 3.6%, improving the gross margin from 48.3% to 52.2%.

A favorable dollar was a “gift” for the company. 77.8% of purchases are made in dollars, and more than 70% of imports come from China. The average euro-dollar exchange rate was about 6.4% more favorable than last year.

The management itself warns about two things. Chinese suppliers have already announced price increases due to energy costs, which may pressure the gross margin by 2–5 percentage points.

A major weapon for AS Company is its cash reserves and investments amounting to 26.4 million euros (14.2 million in cash and 12.2 million in securities, mainly bonds). Bank borrowing is zero.

On the board, the stock is running an upward streak of four sessions. It stands at 4.59 euros, with the yearly high at 4.91 euros from July 10. The half-year return is nearly 22%.

 

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