PKN Orlen’s earnings in 2021 the highest in its history!

In 2021, the ORLEN Group achieved its highest net profit of PLN 11.2 billion. EBITDA LIFO’s operating profit amounted to PLN 14,2 billion after the write-down of assets had been eliminated. Petrochemicals, Energy and Refinery contributed most to the record results.

“Despite the challenging year, we delivered over PLN 11 billion in net profit for 2021, the highest figure on record, unmatched by any Polish company’s performance to date. The result also demonstrates we were right to build a strong multi-utility company and to place a focus on energy generation and petrochemicals, two promising business segments other companies do not have. This gives us a competitive advantage. Financial stability allows us to steadily increase investment spending, with almost PLN 10 billion allocated to strategic projects last year. Our capital projects create jobs and drive the economy. We are set to increase our focus on the energy business expansion this year, concentrating on renewables and zero-carbon nuclear technology as these are a guarantee of Poland’s energy security and independence in the long term,” said Daniel Obajtek, President of the PKN ORLEN Management Board.

According to the information provided by Orlen, in 2021, the ORLEN Group reported:

• LIFO-based EBITDA of PLN 14.2 billion, up by PLN 5.8 billion (y/y)
• net profit of PLN 11.2 billion, up by PLN 8.4 billion (y/y)
• revenue of PLN 131.3 billion, up by 52% (y/y)
• sales of 38.9 million tonnes, up by 2% (y/y).

In 2021, the Group consolidated its position and maintained financial ratios at safe levels. A solid financial footing enabled the Group to raise capital expenditures to PLN 9.9 billion and move forward on its zero- and low-carbon energy projects that are strategic for ensuring the energy security of Poland. Consistent efforts have been made to build a multi-utility group, with Grupa LOTOS and PGNiG to join this year.

“In 2021, PKN Orlen generated profits of more than PLN 11 billion. There was no Polish company that achieved such a result. Thanks to the new business segments and the strong global positioning, around 50% of the Group’s turnover comes from abroad. Polish petrol stations account for only 13% of operating profit,” Daniel Obajtek, CEO of PKN Orlen wrote on Twitter.