Lotos shows off its latest big contract as IPO approaches

The estimated value of the contract over five years is zł.1.5 billion. Pol-Oil Company deals with the retail sale of petrol and its annual turnover reaches zł.500 million. Lotos Paliwa is a subsidiary of the Lotos Group which is responsible for the management of the Group's network of gas stations. At the moment Lotos Paliwa enjoys a 6.5% market share with 350 gas stations. The company aims to boost its market share in retail distribution to 12% by the end of 2009, which is to be achieved through increasing the number of stations to 500. Lotos Group, which comprises of Lotos Paliwa, Petrobaltic, the Czechwice, Jasło and Glimar refineries as well as 15 other entities, generated a 2004 consolidated profit of zł.572 million on sales worth zł.10.2 billion. (Parkiet p. 4) M.G.