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Unipetrol Reports Net Profit of CZK 1.3 billion for Q3

25-10-2018  

  • Unipetrol Group’s revenue at CZK 36 billion
  • Net profit of CZK 1.3 billion; EBITDA LIFO of CZK 2 billion
  • Benzina runs 406 filling stations and increased its market share to 22.9%
  • One-month technological shutdown of petrochemical production units in the Litvínov refinery took place in September
  • Construction of new PE3 polyethylene in progress
  • Unipetrol’s general meeting approves transfer of all Unipetrol shares into PKN Orlen’s ownership. The share acquisition process was finalised at the beginning of October 2018
 

Prague, October 25, 2018 - Unipetrol, the Czech Republic’s largest refining and petrochemical group, has announced its financial results for the third quarter of 2018. Economic results were largely affected by an unfavourable macroeconomic environment, in particular by growing oil prices and the resulting lower margins in the refinery and petrochemical segment.

In Q3 2018, Unipetrol saw the revenues rise by CZK 5 billion on the year to CZK 36 billion. Operating profit before interest, taxes, depreciation and amortization (EBITDA LIFO) reached CZK 2 billion. Net profit amounted to CZK 1.3 billion.
 

The third quarter investments totalled CZK 1.9 billion and went primarily to the construction of the new PE3 polyethylene unit, to the planned petrochemical units shutdown in Litvínov and production units shutdown in Neratovice, to the construction of a new boiler house for the steam cracker unit in Litvínov and to the ongoing modernisation of Benzina filling stations.

“The extraordinary general meeting which approved the passage of all shares of our company to the ORLEN Group was the most significant event of the past quarter. That means that early in October, PKN ORLEN became the sole owner of the Unipetrol Group,” said Krzysztof Zdziarski, CEO of Unipetrol, adding: “In September, we successfully implemented a technological shutdown of our petrochemical units at the refinery. During the shutdown, the facilities were connected to a new boiler house whose construction had progressed to another stage.”
 

The volume of processed oil reached 2 million tonnes. Production capacities of the Unipetrol´s refinery segment were utilized at 92%. In the petrochemical part, the steam cracker’s utilization reached 61%, especially due to the planned one-month shutdown.

In the retail segment, Unipetrol continued investing in the modernisation of Benzina filling stations and in the development of the Stop Cafe refreshment concept. In Q3, this concept was expanded to additional 19 filling stations. In total, customers can now enjoy this refreshments offer at 248 out of the current 406 filling stations. In Q3, Unipetrol strengthened the leading position of the Benzina brand on the filling station market in the Czech Republic to a market share of 22.9% (as of July 31 2018).

 
Unipetrol Group’s Unaudited Consolidated Financial Statements (CZK million)
  
 
 
Q3 2017
 
Q3 2018
 
Difference (y/y)
​REVENUES ​30,904 ​35,990 ​+16%
EBITDA LIFO
3,412 
2,049 
-40% 
EBITDA
2,932 
2,450 
-16% 
EBIT
2,239 
1,622 
-28% 
Net profit
1,523 
1,280 
-16% 
  
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The Unipetrol Group is the largest refinery and petrochemical company in the Czech Republic. It focuses primarily on crude oil processing, distribution and sale of fuel and petrochemical products — particularly plastics and fertilisers. In all these fields, the group is a key player on both the Czech and Central European market. The Unipetrol Group includes refineries and production plants in Litvínov and Kralupy nad Vltavou, Paramo with the Mogul brand in Pardubice and Kolín, Spolana in Neratovice, and two research centres in Litvínov and Brno. Unipetrol also owns the Benzina network of petrol stations with 406 stations, which is the largest chain in the Czech Republic. Unipetrol is one of the largest companies in the Czech Republic in terms of turnover. The group created revenue of over CZK 122 billion last year and employs more than 4600 people. In 2005, Unipetrol became part of the PKN Orlen Group, the largest crude oil processor in Central Europe.
 
Contact:
Pavel Kaidl, Unipetrol Group spokesperson
Mobile phone: +420 736 502 520, e-mail: pavel.kaidl@unipetrol.cz
 
 

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