Orlen Lietuva’s three-quarter revenue grew 2 times

Photo of Judita Grigelytė (VŽ).

The Lithuanian oil import and processing company “Orlen Lietuva”, managed by the Polish oil concern “Orlen”, suffered a loss of 275 million during the nine months of this year. PLN (EUR 58.6 million) loss, when it earned PLN 154 million during the same period last year. PLN (32.8 million EUR) profit.

In January-September, the company received 25.544 billion. PLN (EUR 5.442 billion) revenue is twice as much as a year ago, according to the 9-month results report published by Polish Orlen on Tuesday.

The company’s net profit before interest, taxes and depreciation (EBITDA, according to the LIFO methodology) in nine months amounted to 743 million. PLN (158.3 million EUR) – 5.7 times more than at the same time last year.

“Orlen Lietuva” announced that it earned 27.8 million in the third quarter of this year alone. USD (about EUR 26.8 million) in net profit.

In July-September, compared to the second quarter, Orlen Lietuvos’ income grew by 31.5% and reached 2.242 billion. USD (2.16 billion EUR), the company announces.

The company’s net earnings before interest, taxes and depreciation (EBITDA) in the third quarter amounted to 119.6 million. USD (115.2 million EUR) and was two times lower than in the previous quarter.

In the second quarter, the company worked at a loss and suffered a loss of 209 million. USD (at the exchange rate of August 5 – EUR 204.4 million) loss.

“Although the current geopolitical and macroeconomic situation is rather unstable, the oil refinery works at almost maximum capacity. We hope that we will be able to work like this before the end of the year,” Michalas Rudnickis, CEO of Orlen Lietuva, is quoted in the report.

The factory is operating at 91% capacity.

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