For the 3rd quarter of 2022, ORLEN Lietuva Group has recorded:
- USD 2.242 billion of revenue;
- USD 119.6 million EBITDA LIFO;
- 91 percent refinery capacity utilization;
- USD 27.8 million net profit.
Favorable macro situation during the 3rd quarter of this year had an effect on the improvement of financial performance of AB ORLEN Lietuva. Net profit for Q3 2022 was USD 27.8 million, whereas EBITDA LIFO has reached USD 119.6 million (in comparison to USD 32.9 million for Q3 2021).
Turnaround of the process facilities contributed to optimization of the processes of the only crude oil refinery in the Baltic States. Refinery capacity utilization during July-September of this year has reached 91 percent in comparison to 85 percent for the same period of 2021, and 46 percent only in Q2 of this year.
Total revenues of Public Company ORLEN Lietuva for Q3 2022 were by 54% higher vs the same period last year (USD 1.458 billion in Q3 2021 US dollars to USD 2.242 billion US dollars Q3 2022). The sharp rise of the global crude oil and oil product prices in the summer of this year was the most important driver of the revenue increase.
‘Besides current, quite volatile, geopolitical situation we’ve manage to keep the refinery operations nearly at its maximum capacity; and we hope to maintain such level of capacity utilization to the very end of the year’, said Michal Rudnicki, General Director of ORLEN Lietuva. ‘I am so grateful to all operations, sales, logistics, technology, legal and other professionals who are constantly seeking solutions under the current circumstances of sever geopolitical pressure.
Since 2006, PKN ORLEN has spent nearly 4 billion US dollars on the acquisition and further investments in the refinery of Mažeikiai. ORLEN Lietuva has recently become a member of an integrated petrochemical chain of PKN ORLEN.
PKN ORLEN is a modern player on the fuel and power market, and the largest company in Central and Eastern Europe listed in the prestigious Fortune Global 500.
ORLEN Lietuva inf.