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 earnings on LIFO amounted to PLN 2.32 billion, up by some PLN 400 million y/y, “due to positive impact of higher sales volumes, better fuel and non-fuel margins in retail and insurance payment related to FCC failure in Kralupy limited by negative net impact of macro factors,” the company’s report said. Sales volumes increase by 4 percent y/y.