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Unipetrol Reports 2018 Profit of Almost CZK 9 billion

24-01-2019  

  • Unipetrol Group’s revenue at CZK 130.8 billion
  • Net profit of CZK 9 billion; EBITDA LIFO of CZK 13.8 billion
  • Investment totalled CZK 7.9 billion
  • Reversal of impairment to fixed assets of the Group at a net value of CZK 5 billion
  • Benzina runs already 409 filling stations and increased its market share to 23.2%
Prague, January 24, 2019 – Refinery and petrochemical group Unipetrol has published its financial results for 2018. Unipetrol’s revenue grew by 7% on the year to CZK 130.8 billion. Its earnings before interest, tax, depreciation and amortisation (EBITDA LIFO) amounted to CZK 13.8 billion. The net profit increased by 4% compared to 2017 to CZK 9 billion. The financial results were significantly positively affected by reversal of the impairment to fixed assets in the amount of CZK 5 billion. However, the adverse macroeconomic environment, in particular the growing price of crude oil and the resulting lower margin in the refinery and petrochemical segment, which prevailed throughout the year, played its role.

The 2018 investment totalled CZK 7.9 billion. It went mainly to the construction of the new polyethylene unit PE3 in Litvínov and the new boiler house of the steam cracker in Litvínov, as well as in the planned six-week maintenance of the refinery in Kralupy nad Vltavou. Other key investment projects on all sites of the Unipetrol Group included the ongoing revamp of the T700 power plant in Litvínov and the construction of a new gas boiler house in Neratovice. Investment in the retail segment went primarily to the ongoing modernisation of the network of Benzina filling stations, primarily to development of Stop Café refreshments.

“At the beginning of October, international group PKN Orlen became the sole owner of our company. Stability and a strong base of our owner that is doing business in the same field as we are is a guarantee for the further growth of the entire group,” says Unipetrol CEO Krzysztof Zdziarski, adding: “We have massively invested in the modernization and development of our production facilities throughout the group. Investments worth 8 billion crowns are the second largest investment volume over the past ten years. Over the past three years, we have invested over 26 billion crowns in the upgrading and expansion of production facilities in the Group.”

The volume of processed oil amounted to 7.5 million tonnes. Production capacities of Unipetrol’s refinery part were utilised to 86%. Utilisation of petrochemical capacities amounted to 81%. Sales volumes of refinery products reached 6.3 million tonnes and of petrochemical products 1.9 billion tonnes.

In the retail segment, Unipetrol continued investing in the modernisation of Benzina filling stations and the development of the Stop Café refreshment concept that is now available at 270 out of 409 filling stations. Unipetrol continued to gradually strengthen the leading position of the Benzina brand on the market in the Czech Republic when its market share increased to 23.2% (as of October 31, 2018).
 Unipetrol Group’s Unaudited Consolidated Financial Statements (CZK million)
                                                                                                                                 
 
M12 2017
M12 2018
Y/Y difference
Revenues
122,478
130,768
+7%
EBITDA LIFO
14,817
13,779
-7%
EBITDA
14,954 
13,079
-13%
EBIT
12,045
9,756
-19%
Net profit
8,659
8,978
+4%
   

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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 405 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 131 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, Spokesperson, phone: +420 225 001 407, +420 736 502 520, e-mail: pavel.kaidl@unipetrol.cz


 

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