In second quarter of 2018, ORLEN Lietuva achieved:
ORLEN Lietuva remained profitable during 2nd quarter of 2018 despite market macroeconomic environment being very challenging. In this period Company’s EBITDA LIFO reached 31 MM USD.
This result was achieved by stronger sales in home markets, most notably 8% sales volumes rise in Lithuania and 13% rise in Estonia. This lead to 34% higher revenues compared to same quarter last year (1,281 billion USD in 2Q2018 and 0,954 billion USD in 2Q2017).
“Most important event in recent quarter was finalization of our scheduled turnover. During this period many important production modernization tasks were implemented and now we are starting to feel benefit of this. Our team, together with various contractors from all region, did a great work”, - said Michal Rudnicki, General Director of ORLEN Lietuva.
The main purpose of recent turnover was, among other things, to assure uninterrupted operation of all production facilities that will lead to high capacity utilization index in the future.
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, included in the prestigious Platts TOP250 list and Thomson Reuters TOP100. This year PKN ORLEN has also received − for the fifth consecutive time and as the only company in the region − the coveted title of ‘The Most Ethical Company’ from the US-based Ethisphere Institute.