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The investor relations are intended to build corporate credibility on the capital market
PKN ORLEN is investing to expand its refinery in Mažeikiai. By the end of this year construction will start on a project to build deep crude conversion units enabling production of larger volumes of high-margin products. According to the agreement signed between PKN ORLEN and ORLEN Lietuva on the financing of the project, the Company is to invest EUR 641m. This will be the largest capex project carried out by the ORLEN Group in Lithuania in its operating history. The project will enhance the profitability of the refinery, contributing to strengthening energy security of the region. The project is slated for completion by the end of 2024, and it will add as much as ca. EUR 68m to annual EBITDA.
At its Production Plant in Płock, PKN ORLEN will implement a modern technology for making hydrotreated vegetable oil (HVO). This environmentally friendly and innovative solution, consistent with the ORLEN2030 strategy, will solidify the ORLEN Group’s position on the biofuel market. It will also be ORLEN’s response to the EU’s ‘Fit for 55’ package, which includes a set of new challenges for the oil refining industry to reduce transport fuel emissions. The project, with an estimated value of approximately PLN 600m, is to be carried out in mid-2024.
For the second quarter of 2021, the ORLEN Group posted record-high LIFO-based EBITDA of PLN 3.2bn, up by a remarkable PLN 1.2bn y/y. The Group’s strong market position has also been confirmed by its net profit of PLN 2.2bn and 73% y/y growth in revenue, to PLN 29.4bn. The main contributors to the Group’s impressive performance were power generation and petrochemicals. More than half of the ORLEN Group's sales revenues come from foreign markets.
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