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Unipetrol Reports Q1 2019 Revenue CZK 29 bln

25-04-2019  

  • Unipetrol’s Group revenue at CZK 29 billion
  • EBITDA LIFO totalled CZK 883 million
  • Investments amounted to CZK 1 billion
  • Benzina enters Slovak market and operates 412 fillings stations
Prague, April 25, 2019 – Refinery and petrochemical group Unipetrol has published its financial results for the first quarter of 2019. Revenue grew by 6% on the year to CZK 29 billion. The Group earnings before interest, tax, depreciation and amortisation (EBITDA LIFO) amounted to CZK 883 million. The financial results were affected by the worse macroeconomic environment, especially by growing oil prices and the resulting lower margin in the refinery and petrochemical segment. Unipetrol saw ongoing development in the retail segment. Benzina entered the Slovak market and currently operates 412 filling stations. Benzina’s share on the Czech market of fuel sales increased to 23.4%.

The first-quarter investment totalled CZK 1 billion. The investment went primarily into the boiler house construction for the steam cracker in Litvínov, the boiler house in Neratovice and into the development and modernisation of the Benzina network, especially into the development of the Stop Café concept.

We were successful in the retail segment where we are witnessing ongoing growth. We have expanded the number of filling stations in the Czech Republic and entered the Slovak market where we eventually want to become one of the important players,” says Krzysztof Zdziarski, Chief Executive Officer of Unipetrol, adding: “The financial results were affected by the adverse macroeconomic situation, just as we had expected. Although we managed to increase the volume of products sold in year-on-year terms, high purchase prices of crude-oil and low margins had a fundamental impact on our results.“

The volume of processed oil amounted to 1.8 million tonnes. Unipetrol’s refinery capacities were utilised to 86%; in the petrochemical segment, it was at 88%. Sales volumes of refinery products amounted to 1.48 million tonnes and of petrochemical products to 450 thousand tonnes.

In the retail segment, Unipetrol continued investing in the modernisation of the Benzina network of filling stations, development of the refreshments concept, Stop Cafe, which is currently available at 276 out of 412 stations. In the first quarter of the year, Unipetrol opened three new outlets in the Czech Republic: two operated stations – in Kadaň in northern Bohemia and in Bantice in southern Bohemia, and one express, self-service filling station on the premises of the Olympia shopping mall in Brno. Unipetrol thus further strengthened the leading position of the Benzina brand in the Czech market and increased its market share to 23.4% (as at 31 January 2019).

Unipetrol Group’s Unaudited Consolidated Financial Statements (CZK million)
                                                                                                                                 
 
Q1 2018
Q1 2019
Y/Y difference
Revenues
27,172 
28,906 
+6%
EBITDA LIFO
 
1,495 
 
883
-41%
EBITDA
1,366 
973 
-29%
EBIT
587 
 
-150  
-126%
Net profit
322 
 
-65 
+147%
   

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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 412 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 130 billion last year and employs more than 4700 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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