Energy, EU – Baltic States, Good for Business, Lithuania, Oil, Transport
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Friday, 29.03.2024, 12:46
Orlen Lithuania posts EUR 197.5 mln net profit for 2017
The Lithuanian company's sales revenue jumped by 26% to 3.676 billion euros
(USD 4.541 b), Poland's Orlen said in its 2017 annual report.
Orlen Lietuva CEO Michal Rudnicki says that 2017 was a third successive record-breaking year for the company since its acquisition by the Polish group in 2006
.
"After three record-setting years, we feel strongly challenged for
2018. However, we need to be aware that the upcoming months might bring changes
in the macroeconomic environment. Our long-term goal is to remain profitable
and be able to flexibly adjust to market conditions," he said in a press
release.
Orlen Lietuva's EBITDA last year increased to 249.4 million euros (USD 308 mln), up
19% from 208.9 million euros (USD 258 mln) in 2016.
The refinery in Mazeikiai, in northwestern Lithuania, processed 9.821
million tons of crude in 2017, up 5% from 9.323 million tons a year ago.
The company's capital expenditure (Capex) last year amounted to 60.7
million euros (USD 75 mln).
Orlen Lietuva is 100% owned by Poland's Orlen.