In the first quarter of 2019, ORLEN Lietuva achieved:
- 29,8 MM USD net profit;
- 54,5 MM USD EBITDA LIFO;
- 88% refinery capacity utilization;
- 29% increase in inland sales volume (Y/Y).
Positive financial performance and significant increase in inland sales are the key achievements of ORLEN Lietuva in the first quarter of 2019.
Various technological issues leaded to lower refinery capacity utilization in the last quarter (88% 1Q2019 vs. 98 % 1Q2018). Despite this ORLEN Lietuva achieved positive financial results: Company’s EBITDA LIFO increased up to 54,5million USD in 1Q2019 compared to 16,1 million USD in 1Q2018) and net profit increased up to 29,8 million USD in 1Q2019 compared to 11,5 million USD in 1Q2018.
This result was achieved by continued improvement of inland sales. Most notably sales volume rise in Poland (by almost 300%), CIS countries (by 27%), Estonia (by 11%) and Lithuania (by 7%).
"ORLEN Lietuva remains profitable and positively contributes to the financial result of PKN ORLEN. The first quarter of 2019 also delivers great sales volume rise. Our team did a great work”, - said Michal Rudnicki, General Director of PC ORLEN Lietuva.
AB ORLEN Lietuva is the largest Lithuanian company, exporter and tax payer. Since 2006, PKN ORLEN has spent nearly USD 4 billion on the acquisition and further investments in the Mažeikiai refinery.
PKN ORLEN is a modern player on the fuel and power market and the largest company in Central and Eastern Europe. It was listed among the prestigious Fortune Global 500, PlattsTOP250 and Thomson Reuters TOP100.