INVESTOR RELATIONS

Macro data

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Macroeconomic data – average: 2024 unit Jan Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec FY
Brent crude oil price USD/bbl 80.3 83.9 85.5 90.2 82.0                
Model refining margin (1) USD/bbl 13.9 17.3 16.8 13 13.2                
Differential (2) USD/bbl -1.2 0.4 1.1 -0.3 -1.0                
Model petrochemical margin (3) EUR/t - - - - -                
Natural gas price TTF month-ahead PLN/MWh 130 111 115 125 137                
Natural gas price TGEgasDA PLN/MWh 159 131 136 136 151                
Electricity price TGeBase PLN/MWh 410 334 321 347 375                
USD / PLN (4) PLN 4.00 4.01 3.96 4.01 3.96                
EUR / PLN (4) PLN 4.37 4.33 4.31 4.30 4.28                
Macroeconomic data – average: 2024 unit 1Q 2Q 3Q 4Q FY
Brent crude oil price USD/bbl 83.2        
Model refining margin (1)

USD/bbl

15.9        
Differential (2)

USD/bbl

0.1        
Model petrochemical margin (3) EUR/t -        
Natural gas price TTF month-ahead PLN/MWh 119        
Natural gas price TGEgasDA PLN/MWh 142        
Electricity price TGeBase PLN/MWh 355        
USD / PLN (4) PLN 3.99        
EUR / PLN (4) PLN 4.33        

(1) Model refining margin = revenues (33% Gasoline + 48% Diesel + 13% HHO) – costs (98% Brent crude oil + 2% Natural gas). Spot quotations.

(2) Differential calculated on the real share of processed crude oils. Spot quotations. 

(3) Model petrochemical margin = temporarily put on hold due to formula update.

(4) Average foreign exchange rates according to the National Bank of Poland.