Twice as much as in 2022. PKN Orlen announced the results

According to the information, EBITDA profit amounted to PLN 48 million, compared to PLN 19 billion in 2021. The profit from the acquisition of Grupa Lotos and PGNiG was set at PLN 14 billion; The net profit was PLN 33.6 billion compared to PLN 11 billion in the previous year. This percentage, adjusted for profits from the acquisition of Lotos and PGNiG, amounted to less than PLN 19.5 billion.

As Daniel Opagech, President of PKN Orlen, wrote in a letter to shareholders, last year the fuel and energy sector faced challenges of an unprecedented scale, while – in his opinion – the company got out of this difficult situation thanks to a well-thought-out idea. outside the investment policy. Obajtek writes that the crisis in the European energy market, intensified by the war in Ukraine, confirmed not only the need for further diversification in the directions of supply of individual fuels or raw materials, but also the energy mix. He noted that making Poland independent of fossil fuels has become a priority, and therefore, in addition to investments in offshore and onshore wind farms, the company will develop generation capacities based on SMR small reactor technology.

The financial statement states that, in the company’s opinion, the ongoing conflict in Ukraine will continue to affect the macroeconomic situation in the country and in the world and cause fluctuations in prices for refining and petrochemical products, raw materials, including crude oil, energy and carbon dioxide emissions allocations, and currency rates with a trend Impact on margins, which is currently difficult to quantify. As a result, this may lead to a further increase in inflation and interest rates, which will affect the economic situation in the countries in which the company operates, including a possible slowdown in economic growth or even recession.

However, the size and impact of the war in Ukraine on the macroeconomic situation, and therefore the future financial position of the company, its operational activity, as well as its future financial results, is currently difficult to estimate, according to the report.

PKN Orlen is the largest Polish company, which is a joint-stock company with a share of the state treasury of 49.90 percent. The company has 7 refineries in Poland, the Czech Republic and Lithuania, and about 3,100 service stations in Poland, Germany, the Czech Republic, Slovakia, Lithuania and Hungary. The company operates in more than 100 markets, with a focus on the markets of Central Europe, Norway, Canada and the Middle East. The average daily oil and gas production from Orlen’s assets is more than 190,000 tons. Equivalent to a barrel of oil, in the energy sector Orlen has more than 5 GW of installed capacity in various generation assets, 0.7 GW of existing RES capacity and a portfolio of projects in the renewable energy sector. (PAP)


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