Locked content PKN Orlen pre-notifies EC on merger with Lotos

PKN Orlen sent complete analysis of the merger with Grupa Lotos to the European Commission (EC), as part of the pre-notification process – PKN Orlen CEO Daniel Obajtek informed. “We are in constant talks with the EC and we want to prove that the merger is not a threat to competition on t...

Locked content Grupa Lotos Q2 net profit jumps to PLN 534.9 mln

Fuel giant Grupa Lotos Q2 net profit grew to PLN 534.9 million from PLN 157.4 million a year ago. Operating profit was PLN 897.9 million versus PLN 172.9 million y/y. EBITDA stood at PLN 1.08 billion versus PLN 383.6 million y/y. Consolidated revenue rose to PLN 7.53 billion from PLN 5.45 billion in...

Locked content Lotos with PLN 1.08 bln EBITDA for Q2

Fuel giant Grupa Lotos posted preliminary EBITDA for Q2 at PLN 1.08 billion and consolidated operating profit (EBIT) at PLN 0.89 billion. The company’s consolidated EBITDA LIFO excluding one-off items is estimated at PLN 0.82 billion, including PLN 0.58 billion for production and retail and PLN 0.24...

Locked content Lotos with PLN 632 mln EBITDA for Q1 2018

Fuel giant Grupa Lotos posted preliminary EBITDA for Q1 2018 at PLN 632 million and consolidated operational profit (EBIT) at PLN 450 million. The company’s consolidated EBITDA LIFO excluding one-off items is estimated at PLN 540 million, including PLN 330 million for production and retail and PLN 2...

Locked content Lotos may take over Orlen in planned Orlen-Lotos merger – sources

According to sources cited by daily Rzeczpospolita, it could be the Lotos Group taking over Orlen, rather than the other way round, in the planned transaction set to merge the two fuel concerns. Orlen will issue shares that will be acquired by the shareholders of the Płock-based Lotos Group. This tr...

Locked content Lotos changes its CEO

The supervisory board of Grupa Lotos, one of Poland’s largest energy producers, replaced its CEO on Wednesday, according to a report in Gazeta Prawna. The current president, Robert Pietryszyn, will be replaced by Marcin Jastrzębski, who was the previous vice-president, operations. Lotos, established...

Locked content Lotos considers floating Lotos Kolej on WSE

The Lotos Group is currently analyzing the possibility of listing its rail transport subsidiary Lotos Kolej on the Warsaw Stock Exchange, Lotos vice-president Przemysław Marchlewicz has informed. However, he pointed out that this must be linked to a development and investment plan for the company. “...

Locked content Lotos close to signing new crude oil deal with Iran

Poland’s second biggest refiner Lotos may sign a long term deal on crude oil supplies from Iran, deputy CEO Marcin Jastrzębski announced during an economic forum in Krynica on Wednesday. “More or less within a week we will know results of test runs of Iranian oil. If results are good, I&...

Locked content Lotos receives oil from Iran

Grupa Lotos has received two million barrels of crude oil from Iran it had bought in a one-off purchase. The cargo was delivered by two carriers: the Atlantas Very Large Crude Carrier (VLCC), which set sail from Iran on June 27 and the calida carrier/ The delivery is a result of the accord between G...