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 Q2 2017. The results were influenced by higher refining margin, increase in crude oil and natural gas prices as well as exchange rate differences, the company wrote. Grupa Lotos plans to present a plan for debt reduction in the middle of next year, Vice President of Management Board Robert Sobków said. At the end of June net debt stood at PLN 2.8 billion.