ORLEN Lithuania bounces back with €217m profit

DELFI / Kiril Čachovskij

In 2014 the company, whose main refinery is in the city of Mažeikiai, posted a €109 million ($119 million) loss but 2015 was the most successful year for the company since 2006.

ORLEN‘s net profit hit €39 million in the fourth quarter alone. The group said Orlen EBITDA grew by €97 million in the fourth quarter of 2015, compared to a drop of €78 million in the fourth quarter of 2014.

However, expansion the retail market in Lithuania is not a priority for the group, according to Slawomir Jędrzejczyk, the vicepresident and financial director of PKN Orlen. He said the company is not considering entering the bidding to purchase Lukoil’s chain of gas stations in Lithunia.

Mr. Jędrzejczyk said the performance of the Mažeikiai plant had been fantastic in 2015 generating revenues of €275 million.


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