In Q3 2017, ORLEN Lietuva recorded:
In the third quarter, financial results of ORLEN Lietuva were the best of all quarterly results of this year and among the highest ones in the entire history of Mazeikiai refinery. Such results have been achieved after refinery maintenance operations completed in the second quarter of this year which enabled to come up to exceptional refinery capacity utilization.
With the increase of refining capacities, both inland and seaborne sales grew up. Inland sales increased by 15% vs second quarter of this year. In total, sales in this period went up by 21% and if to compare with the same quarter of last year, they grew up by 8%.
Increase in sales resulted in the growth of revenues in the third quarter up to USD 1,174 billion (vs 954MM USD in the same period of last year). Net profit was the highest of all quarterly periods of this year (72MM USD in Q3 2017; 50,4MM USD in Q2 2017; 42,8MM USD in Q1 2017).
'Our team has achieved record-breaking quarterly results. This is an obvious output of our investments into modernization and technology competences of staff. Our refinery capacity utilization reached 106 percent and sales were extraordinary. We congratulate ourselves that in the first nine months of this year we have already gained 165,4MM USD net profit,' said Ireneusz Fąfara, the General Director of ORLEN Lietuva.
Net profit of nine months of this year is 23,3MM USD higher vs last year (165,4MM USD and 142,1MM USD).
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. ORLEN is the only company in the region to have been named The Most Ethical Company of 2015, 2016 and 2017 by the US Ethisphere Institute.