„Last year was record-breaking in many respects. We increased revenues and operating profit to historical levels. We continued the massive investments in modernisation and development of our key production assets which then reached high degree of utilization. We made a great progress in the completion of the new polyethylene unit PE3 construction, the key investment in our strategy. In the retail segment, we invested in expanding the number of our filling stations and their modernisation, especially in the development of the Stop Cafe refreshment concept. Benzina thus increased its market leadership, exceeding the 20% market share threshold,“ Andrzej Modrzejewski, CEO and Chairman of Unipetrol Board of Directors, said summing up the past year. He added: „We have confirmed that the strategy we chose was right. It allowed us to increase the value of the entire Group for our shareholders.“

Downstream segment – high utilisation of refinery capacities, sales growth, Spolana in profit
Within the downstream segment consisting of the refinery and petrochemical part, Unipetrol Group reported operating profit EBITDA LIFO of CZK 13.5 billion in 2017. In y/y comparison it is an increase of CZK 2.4 billion (+21%). The achieved results were positively influenced by the stable operation of both refineries and by a y/y increase in the utilisation of production capacities from 62% to 90%. As a result, Unipetrol increased y/y the volume of processed crude oil by 46% to 7.9 million tons. Sales volumes of refinery products grew y/y by 9% to 6.8 million tonnes. The steam cracker was used at 82% of its capacity (y/y change +65%), resulting in a significant increase in sales volumes of petrochemical products by 86% to 2 million tonnes. Spolana, which concluded last year in net profit of CZK 433.5 million, contributed 397 thousand tons of sold volumes to this amount.

Retail segment – new fuel, modernisation, growing number of filling stations and market share
In the retail segment, the Unipetrol Group reported operating profit EBITDA LIFO of CZK 1.4 billion at the end of 2017, a y/y growth by CZK 436 million (+46%). This is due to continuing overall favourable macroeconomic situation and increased fuel sales, especially of the new fuel type EFECTA 95 and EFECTA Diesel. In the non-fuel part, Unipetrol benefited from further development of its Stop Cafe modern refreshment concept. The gradual take-over of 63 filling stations from OMV contributed to the successful results as well. So far, Unipetrol has taken over 56 stations. The process is expected to be completed in the first quarter of 2018. Last year, Unipetrol continued to strengthen its Benzina brand’s leading position on the Czech Republic’s filling station market, registering a total of 401 filling stations in its Benzina network at the end of 2017. Benzina’s market share grew to 20.5% (October 2017).

Massive investments in reconstruction and modernisation
Last year, Unipetrol invested over CZK 7.5 billion. The money was directed especially towards projects focusing on modernization and development of its production, environmental protection (over CZK 200 million), optimization of energy efficiency and process safety improvement. Construction of the new PE3 polyethylene unit continued successfully. Construction of the PE3 unit is currently completed at 77%. Its overall completion is expected at the end of 2018. The key projects include the ongoing revamp of T700 power plant and revitalisation of the partial oxidation unit (POX). In transport and logistics, Unipetrol invested in the purchase of new locomotives. Investments were directed also towards Spolana Neratovice – to modernisation and greening of its production as well as in the production of the new granulated fertilizer Spolsan G. As for the retail segment, Unipetrol invested over CZK 900 million  in expanding its Stop Cafe refreshment concept at filling stations and, last but not least, in rebranding of the filling stations taken over from OMV.

Employment and Unipetrol Foundation
At the end of 2017, Unipetrol Group had 4,638 employees. Last year, Unipetrol continued to support science and education. By establishing Unipetrol Foundation, the Group intensified its cooperation with secondary schools and universities and increased its financial support for secondary school and university students. At the end of the year, Unipetrol Foundation granted first scholarships to 22 secondary school and 18 university students of natural science and engineering fields.