Good operating results in the face of continued macroeconomic challenges

For Q3 2010, PKN ORLEN reported its best operating profit since the beginning of 2009 (LIFO method). PKN ORLEN has also recorded the highest aggregate sales volumes in over a year and a half; and, increased the utilisation of its production capacities at all of the Group's refineries. Consequently, PKN ORLEN posted robust net earnings and improved the financial ratios.

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Upgrade of FITCH’s Outlook for ORLEN

Recognised ratings agency Fitch Ratings has upgraded PKN ORLEN’s financial standing, changing the Company’s outlook (BB+) from negative to stable. The upgrade reflects the Company’s consistent deleveraging efforts, improved cash flows as well as the favourable macroeconomic climate in the refining and petrochemicals segments.

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Consolidated financial performance of PKN ORLEN in Q2 2010

In the second quarter of 2010 PKN ORLEN recorded its best operating result according to LIFO over the past year and a half, boosted its sales volumes and considerably improved production ratios. The company’s operating performance was very good and its net result was positive despite the złoty being considerably weaker compared to other currencies.

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Special version of PKN ORLEN’s Annual Report

PKN ORLEN introduced facilities for the partially sighted using the company’s web service. On a specially designed website the Holding company presented the Annual Report and Social Responsibility Report for 2009 along with the archive versions of the Reports.

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PKN ORLEN – consolidated financial results for 1st quarter 2010

In the 1st quarter 2010 PKN ORLEN reported EBIT operating profit of 464 million PLN. It was 784 million PLN higher than the one obtained in the similar period last year, when the Holding company reported a loss of 320 million PLN. The net result reached the level of 610 million PLN in comparison to the loss of 1 092 million PLN in the 1st quarter of 2009.

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ORLEN exceeds Fitch Ratings expectations

Today Fitch has communicated its decision – favorable from the perspective of PKN ORLEN credit risk assessment – on removing the company from Rating Watch Negative, i.e. the list of entities under surveillance related to the possible short-term rating reduction.

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Crude deliveries to PKN ORLEN

PKN ORLEN secured crude oil deliveries for the coming years. Today the Holding company signed a term contract with Souz Petrolium. PKN ORLEN signed a long-term agreement for crude oil delivery. The new agreement guarantees secure crude oil deliveries at attractive conditions.

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Respect Index at the Warsaw Stock Exchange

According to the rating published today by the Warsaw Stock Exchange, PKN ORLEN joined the elite group of 16 companies listed under Respect Index. It gathers quoted companies applying a responsible management system towards all groups of stakeholders.

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The ORLEN Group settles tender for supplies of bio-ethanol

PKN ORLEN has settled tenders for bio-ethanol supplies to ORLEN Group companies in Poland, the Czech Republic and Lithuania for the period from October 2009 to September 2010. Following the announcements distributed to over 80 entities across Poland and other EU country members, the final tender for bio-ethanol supplies attracted over 20 domestic and international companies.

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