press release
23.04.2015
PKN ORLEN’s Q1 2015 consolidated financial results
In Q1 2015, PKN ORLEN generated LIFO-based EBITDA of PLN 1.9bn. This good performance is attributable both to the supportive macroeconomic environment (higher downstream margin, low oil prices), and to the Company’s improved efficiency and year-on-year growth in sales volumes in the Downstream and Retail segments. In the Power segment, the growth-oriented industrial cogeneration projects in Włocławek and Płock were continued. Despite the adverse impact of lower crude oil prices on the Upstream segment, average daily production from the Canadian assets reached 6,700 boe/d, with rationalised expenditure in this business area.
Over the first three months of 2015, PKN ORLEN reduced its debt by PLN (-) 0.6bn. The Company continued its dividend policy, and the Management Board recommended distribution of dividend of PLN 1.65 per share.
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