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 | 82.6 | 85.3 | 80.9 | 74.3 | 75.7 | 74.5 | 73.9 | 80.8 |
| Model refining margin (1) | USD/bbl | 13.9 | 17.3 | 16.8 | 13 | 13.2 | 11.5 | 10.3 | 7.2 | 5.5 | 8.0 | 7.3 | 7.8 | 11.0 |
| Differential (2) | USD/bbl | -1.1 | 0.4 | 1.2 | -0.2 | -1.0 | -1.7 | -1.3 | -1.6 | -0.3 | 0.5 | 1.2 | 0.9 | -0.2 |
| Model petrochemical margin (3) | EUR/t | 150 | 222 | 259 | 262 | 251 | 218 | 178 | 205 | 220 | 136 | 145 | 131 | 197 |
| Natural gas price TTF month-ahead | PLN/MWh | 130 | 111 | 115 | 125 | 137 | 149 | 139 | 165 | 154 | 174 | 193 | 193 | 149 |
| Natural gas price TGEgasDA | PLN/MWh | 159 | 131 | 136 | 136 | 151 | 167 | 158 | 181 | 178 | 198 | 218 | 219 | 170 |
| Electricity price TGeBase | PLN/MWh | 410 | 334 | 321 | 347 | 375 | 471 | 468 | 425 | 411 | 439 | 534 | 448 | 415 |
| USD / PLN (4) | PLN | 4.00 | 4.01 | 3.96 | 4.01 | 3.96 | 4.02 | 3.95 | 3.90 | 3.85 | 3.95 | 4.09 | 4.08 | 3.98 |
| EUR / PLN (4) | PLN | 4.37 | 4.33 | 4.31 | 4.30 | 4.28 | 4.32 | 4.28 | 4.29 | 4.28 | 4.31 | 4.33 | 4.27 | 4.31 |
| Macroeconomic data – average: 2024 | unit | 1Q | 2Q | 3Q | 4Q | FY |
| Brent crude oil price | USD/bbl | 83.2 | 85.0 | 80.3 | 74.7 | 80.8 |
| Model refining margin (1) | USD/bbl |
16.0 | 12.6 | 7.7 | 7.7 | 11.0 |
| Differential (2) | USD/bbl |
0.1 | -1.0 | -1.1 | 0.8 | -0.2 |
| Model petrochemical margin (3) | EUR/t | 209 | 244 | 200 | 137 | 197 |
| Natural gas price TTF month-ahead | PLN/MWh | 119 | 137 | 153 | 187 | 149 |
| Natural gas price TGEgasDA | PLN/MWh | 142 | 152 | 172 | 212 | 170 |
| Electricity price TGeBase | PLN/MWh | 355 | 397 | 435 | 473 | 415 |
| USD / PLN (4) | PLN | 3.99 | 4.00 | 3.90 | 4.04 | 3.98 |
| EUR / PLN (4) | PLN | 4.33 | 4.30 | 4.28 | 4.31 | 4.31 |
(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 = revenues (25% HDPE [Spot] + 16% PP Homo [Spot] + 9% Ethylene [contract] + 7% Toluene [contract] +14% Benzene [contract]) – costs (75% Naphtha + 13% HHO + 13% LPG [Spot]) - 6% CO2 costs [EUA]
(4) Average foreign exchange rates according to the National Bank of Poland.