For the year 2021, ORLEN Lietuva Group has recorded:
- USD 5.06 billion revenue;
- USD 87 million net profit;
- USD 79.6 million EBITDA LIFO;
- 7 percent higher inland and seaborne sales vs 2020;
- 8.5 million tons of feedstock processed in the refinery.
Revenue of ORLEN Lietuva in 2021 increased and amounted to nearly USD 5.1 billion vs USD 2.8 billion in 2020. ORLEN Lietuva has also recorded positive EBITDA LIFO: in 2021, it was nearly USD 80 million vs nearly USD 147 million EBITDA LIFO loss in 2020.
ORLEN Lietuva in 2021 achieved USD 87 million profit. Improved macroeconomic conditions had positive impact on business results of the Company as well as in the last quarter of 2021 crude oil refinery operating in Mažeikiai District has increased its capacity utilization close to its maximum.
Operating at 76.6 percent of its actual capacity the only crude oil refinery in the Baltic States has processed 8.5 million tons of feedstock in 2021. In 2021, production increased by more than 3,6 percent vs 2020. Due to diversification of feed in the refinery, light products yield (LPY) grew by 1 percent in 2021 compared to 2020.
‘Entire crude oil refining sector and, accordingly, ORLEN Lietuva continue facing a number of challenges in 2022. We need to transform if we want to stay in business,’ said Michal Rudnicki, General Director of ORLEN Lietuva. ‘We were prepared for that. In the last four years, we put a lot of focus on testing different types of crude oil and this has proven that crude oil refinery operated by ORLEN Lietuva in Mažeikiai District, Lithuania, is fully technologically prepared to process non-Russian crude oils. Continuity of operation is ensured for any geopolitical scenario.’
Since 2006, PKN ORLEN has spent nearly USD 4 billion 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 among the prestigious Fortune Global 500.
ORLEN Lietuva inf.