ORLEN Lietuva continues delivering positive financial results in second quarter of 2017
- EBITA LIFO of USD 58,5 m.
- Net profit of USD 50,4 m.
- Termination of longlasting dispute with Lithuanian Railways
Positive financial performance, successfully completed turnaround and settlement of the longlasting dispute with Lietuvos Gelezinkeliai are the key acheievements of ORLEN Lietuva in the second quarter of 2017. In this period EBITDA LIFO reached USD 58,5 m.
“It was one of the most productive quarters in ORLEN Lietuva since many years. Not only we completed the turnaround and achieved positive financial results but also settled a longlasting dispute with Lithuanian Railways. In the upcoming months we will remain focused on raising effectiveness on all fields of our operations and benefiting from market opportunities.” – said General Director of ORLEN Lietuva Ireneusz Fąfara.
In second quarter of 2017 ORLEN Lietuva reported USD 954 m revenues vs. USD 882 m in the same period last year. Over USD 37 m was invested in maintenance and technological development of the refinery through the first 6 months of 2017. The Company also benefits from higher inland sales and effectiveness of production.
ORLEN Lietuva is the biggest Lithuanian company, exporter and tax payer. Since 2006, PKN ORLEN has spent nearly USD 4 billion on the acquisition and further investments in the Mazeikiai refinery.
PKN ORLEN is a modern player on the fuel and power market, the largest company in Central and Eastern Europe, and the only Polish company listed among the prestigious Fortune 500. Furthermore, ORLEN is the only company in the region to have been named The Most Ethical Company of 2014, 2015, 2016 and 2017 by the US Ethisphere Institute.