Locked content Orlen introduces its own brand of products

Oil giant PKN Orlen will introduce own-brand products at its gas stations, the company stated. The first product introduced is bottled water “O!” The idea for an own-brand follows the introduction of Orlen’s own convenience stores at its gas stations, called O!Shop. The own-brand line will offer jui...

Locked content PKN Orlen with PLN 1.6 bln profit in Q3

Oil giant PKN Orlen recorded net profit of PLN 1.6 billion in Q3 2017, an increase over PLN 1.5 billion recorded in Q3 2016, but below market consensus of PLN 1.96 billion. For the first three quarters of the year, net profits stood at PLN 5.539 billion and were PLN 1.842 billion higher than in̷...

Locked content Orlen pays record-high dividend for 2016

Fuel giant PKN Orlen paid out record high dividend last Friday of PLN 3 per share. PLN 1.28 billion, almost 25 percent of the company’s record-high 2016 net profit of PLN 5.36 billion, was paid out to the company’s shareholders. “It is the fifth year in a row when the concern, in line with its…...

Locked content PKN Orlen Q2 net profit down

WSE-listed fuel giant PKN Orlen had a PLN 1.541 billion attributable net profit in Q2, down by 10.7 percent q/q and 4.2 percent y/y. Revenues amounted to PLN 23.02 billion, up by 0.7 percent q/q and 19 percent y/y. EBITDA stood at PLN 2.45 billion, down by 4.8 percent q/q and 8.8 percent decline y/y...

Locked content Orlen reappoints CEO, CFO to step down

WSE-listed, state-controlled fuel group PKN Orlen saw its supervisory board reappoint CEO Wojciech Jasiński for another 3-year term, while CFO Sławomir Jędrzejczyk and board member for development and energy, Piotr Chełmiński, will step down after their current terms expire later this month. Jasińsk...

Locked content PKN Orlen posts PLN 1.92 bln attrib. net profit in Q1

WSE-listed fuel giant PKN Orlen had with a PLN 1.92 billion attributable net profit in Q1, up from PLN 337 million y/y. EBIDTA amounted to PLN 2.84 billion, compared to PLN 1 billion the year before. Revenue stood at PLN 2.27 billion compared to PLN 478 million result in Q1 last year. EBITDA earning...

Locked content PKN Orlen lays out capital expenditure plans for 2017

PKN Orlen, which operates six refineries in Poland, Lithuania and the Czech Republic and also conducts mining operations in Canada, will increase its capital expenditures in 2017, in comparison to 2016, the company said in a press statement on Thursday. It will invest PLN 3.3 billion in development ...

Locked content PKN Orlen Group releases investment strategy for 2017-2021

PKN Orlen, Poland’s largest oil and gas producer and distributor, on Friday revealed its investment strategy for 2017 to 2021, noting that oil market instability had played a part in its decision to hold off, for now, on securing new mining acquisitions. “At this stage we are not working on a specif...

Locked content PKN Orlen buys 1 mln oil barrels from Iran

PKN Orlen bought 1 million barrels of Iranian Light crude oil, which will be shipped by sea to Gdansk’s Naftoport in January 2017, the company said in a statement released to the Polish press on Wednesday.  “[We] aim to build business relationships with the largest oil producers in the world and ope...