The article is being updated.
When converted, this resulted in a net profit of €640 million in this half-year compared to €3.358 billion in the period from January to June 2023.
We already wrote in Business Insider Polska that the results will be significantly weaker than last year’s, pointing out the reasons for this situation.
Płock reported revenue of PLN 151.8 billion and PLN 12.2 billion in EBITDA. A year ago it was appropriate. PLN 194.9 billion and PLN 27 billion.
Let us recall that a year ago, Orlen showed results that were twice as high as in 2022. However, this was an exceptional situation. Because although Orlen completed the acquisition of Grupa Lotos and PGNiG two years ago, it had not yet consolidated its results in the second quarter of 2022.
Tomorrow the company’s management will comment in detail on the results during a press conference.
loss in the second quarter
As stated in the report, Orlen’s net loss in the second quarter of 2024 attributable to the shareholders of the parent company amounted to PLN 34 million, while in the previous year the company achieved a net profit of PLN 6.02 billion.
In the second quarter of 2024, the Orlen Group generated revenue of PLN 69.5 billion. In 2023, it reached PLN 79 billion.
Orlen’s operating profit in the second quarter amounted to PLN 1.06 billion. In the previous year it amounted to PLN 7.1 billion.
LIFO EBITDA before impairment losses amounted to PLN 5 billion.
At the beginning of August, Orlin estimated that LIFO EBITDA in the second quarter of 2024, after excluding impairment losses, would amount to around PLN 5.030 billion, while also eliminating the impact of regulations on countering excessive increases in electricity and natural gas prices, this result would amount to around PLN 11.306 billion.
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