Prague, October 19, 2017 – Unipetrol, the Czech Republic’s largest refining and petrochemical group, announced its Q3 2017 results. In the third quarter of 2017, Unipetrol’s revenues grew by CZK 7.8 billion y/y (+34%) to CZK 31 billion. Operating profit before interest, taxes, depreciation and amortization (EBITDA LIFO) amounted to CZK 3.4 billion; this represents a y/y increase of nearly CZK 1.5 billion (+77%). Net profit grew by 801 million (+111%) to CZK 1.5 billion.
„We have reached the historically record level of 97% utilization of our refinery capacities. During the construction of our key investment project – the new polyethylene unit – we have passed yet another important milestone by a challenging installation of forty high-capacity silos,“ said Andrzej Modrzejewski, Unipetrol CEO and Chairman of the Board, adding: „Benzina too is experiencing a successful period. The new generation of EFECTA fuels and the extended offer of the STOP CAFE refreshments are becoming increasingly popular among drivers. Moreover, we’re expecting to open the four hundredth filling station in the coming weeks.“
Segment downstream – record utilization of refinery capacities, growth in sales
In the downstream segment, which consists of refinery and petrochemical part, the Unipetrol Group reported operating profit of CZK 3.1 billion in Q3 2017, which is a y/y increase of CZK 1.5 billion (+92%). The achieved results were positively affected by the stable operation of both refineries and a y/y increase in the utilization of production capacities from 48% to 97%. As a result, Unipetrol increased the volume of processed crude oil by 104% to 2.1 million tonnes y/y. Sales volumes of refinery products grew by 12% to 1.8 million tons y/y. The steam cracker used 85% of its capacity which was reflected in a significant increase in sales volumes of petrochemical products - by 113% to 525 thousand tons. Spolana has contributed to this amount by selling 89 thousand tons. In the third quarter, Unipetrol continued in the construction of the new polyethylene unit PE3. Forty high-capacity silos for storing high-density polyethylene have been installed. They will be a significant part of the planned logistics terminal from which Unipetrol plans to distribute up to 270,000 tons of polyethylene granulate a year. The construction of PE3 is completed at 70%, the mechanical completion is expected at the end of 2018.
Retail segment– increase in fuel sales and further increase in market share
In the retail segment, the Unipetrol Group reported operating profit EBITDA LIFO of CZK 370 million. It grew y/y by CZK 34 million (+40%) despite the decrease in fuel margins. This was due to the continuing favourable macroeconomic environment and increased fuel sales, especially in case of the new fuel type EFECTA 95 and EFECTA Diesel. In the non-fuel part, Unipetrol benefited from the further development of the modern refreshment concept STOP CAFE. The opening of nine new filling stations, which Unipetrol took over from OMV, has also contributed to the successful results. So far Unipetrol has taken over 50 stations registering a total of 396 filling stations in its Benzina network. It has thereby further strengthened the leading position of Benzina brand on the Czech Republic’s filling station market increasing its market share to 19.3% (July 2017).