PKN Orlen EBITDA at PLN 9.4 billion, CAPEX at PLN 4.7 billion in 2016

Polish oil company PKN Orlen estimates that it reached an EBITDA profit calculated using LIFO (last in-first out) of PLN 9.4 billion in 2016, and put last year's capital expenditure at PLN 4.7 billion, the company said. In mid-December of last year Orlen estimated that LIFO EBITDA would amount to PLN 8.3 billion in the whole of 2016 and CAPEX would be PLN 5.1 billion. The Company plans to publish its results for the fourth quarter of 2016 on Thursday, January 26. PKN Orlen Group manages six oil refineries in Poland, Czechia and Lithuania, it also conducts mining operations in Canada and Poland. The consolidated revenues of the Group in 2015 amounted to PLN 88.34 million. The company has been listed on the Warsaw Stock Exchange since 1999.