The preliminary consolidated profit of the Unipetrol Group before tax for the fiscal period of 2004 according to Czech accounting standards totals CZK 4. 743 bn. It is a significant improvement as compared with the same period of the last year, when the group registered a pretax loss of CZK 406 mil.. Total revenues of the group in the period under consideration exceeded CZK 78 bn (of which revenues from the sale of own products and services exceeded CZK 60 bn, revenues from the sale of goods reached CZK 17.4 bn). Total assets of the Unipetrol group equalled CZK 71.090 bn. Economic results of Unipetrol reflect development of economic indicators of all main daughter companies of the group.

CHEMOPETROL, a.s.

According to the non-audited results Chemopetrol, a.s. reached a pretax profit of CZK 2.323 bn, which is the best Chemopetrol´s result in the past decade. In 2003 the company registered a loss of CZK 22 mil., which means an improvement of CZK 2.345 bn year over year. This result was achieved even while the prices of refinery products (feedstocks for Chemopetrol) rocketed up; on the other hand, the increase in prices of petrochemical products, made it possible to keep basic margins at levels favourable for Chemopetrol, a.s. High performance stability of all production units including new polyethylene and polypropylene production plants was the second important factor, as the processing of a record amount of raw materials enabled to sell over half a million tons of plastics. This development made it possible for the company to achieve revenues from own products and services of CZK 27.1 bn, which is an increase of CZK 9.1 bn as against the same period of the last year (i.e. 50%). In the area of financing, the year 2004 brought another positive: by refinancing the original CZK 4 bn bond issue, the company managed to ensure cheaper company financing with long-term stability. In 2004 a thrust continued on rationalization and cost reduction in Chemopetrol, a.s., the performance was also positively impacted on by ongoing restructuring, particularly the new organizational arrangement by separate business units, to which Chemopetrol, a.s. switched at the end of 2003.

KAUČUK, a.s.

In 2004 the company generated a pretax profit of CZK 437 mil., which is more than five times the 2003 pretax profit. The overall economic results were achieved mainly thanks to the operating income of CZK 591 mil. which was by CZK 388 higher than the 2003 operating income. Total revenues from the sale of own products and services amounted to CZK 10.077 bn, which is an increase of 34% compared to 2003. The increase in revenues was mainly thanks to the increase in prices of all petrochemical commodities caused by substantial increase in crude oil prices due to growing demand on world markets. This increase also affected the prices of produced rubbers and plastics. However, the significant improvement of economic results as against the previous year is not only due to the increase in prices and margins of produced commodities but also thanks to ongoing restructuring of the company started in 1999. The company finished repayment of the syndicated loan drawn down in the years 1997 – 1999 and continued repaying investment loan obtained for the construction of ethylbenzene unit which was put into operation in May 2003.

SPOLANA a.s.

In 2004 Spolana recorded a preliminary pretax profit of CZK 81 milion (for comparison – in 2003 the company registered a loss of CZK 2.663 bn). Spolana achieved the profit after making high loss for ten years. An increased demand for the main company´s commodities (PVC, caprolactam and ammonium sulfate) positively impacted on the economic result. The development of margin in markets and higher operating rates of production capacities contributed substantially to the company´s results too. Improved company´s economic results in 2004 were also due to the shut-down of the LAO plant in August 2003. Spolana´s revenues from the sale of own products and services amounted to CZK 5.1 bn last year (as compared to CZK 4.7 bn in 2003)

BENZINA, a.s.

The company did not finish in the red as expected, but instead made a pretax profit of CZK 39 mil. in 2004. Total revenues from the sale of fuels and other oil products amounted to CZK 20.3 bn, up by 3.7% as against the comparable period of 2003. In line with growing national demand for diesel fuel the total sales of diesel fuel amounted to 575 mil. litres in 2004, the index as against 2003 (567 mil. litres) was 101.4%. Af for automotive gasoline, the unleaded “ Natural 95” is the main product. Its total 2004 sales amounted to 361.7 mil. litres, which is an increase equal to index 103.4% over 2003 (349.7 mil. litres). The petrol station retail market faced a high concentration of filling stations and highly competitive environment due to the development of petrol station network operated by shopping centres. An increase in diesel oil sales increase of 6.3% was marked in 2004 at company´s petrol stations as against 2003. The drop in trade margin was partly compensated for by cost savings, divestment program and above all by revenues from other business activities.

PARAMO, a.s.

In 2004 the company generated a pretax profit of CZK 192 mil. (in 2003 it made a loss of CZK 142 mil.). Revenues from the sales of own products and services grew by CZK 1 167 mil. over 2003. The increase in variable costs (performance consumption) of CZK 1.011 mil. as against the last year was caused by a high crude oil price (partly compensated by the strengthening Czech crown against the American dollar), and by the higher operating rate of crude oil processing, enabled by high refinery margins. In order to cut the fixed costs, the company continued in downsizing the number of employees. The company registered record revenues from the sale of its own products and services in the amount of CZK 6.674 bn, as well as from the sale of goods – CZK 1.957 bn. As can be seen, the company successfully handled its merger with Kolín-based Koramo, which was carried out in 2003.

UNIPETROL RAFINÉRIE a.s.

The company made a pretax profit of CZK 1.473 bn in 1 – 12/2004 and exceeded the business plan by CZK 1.079 bn. The main reason for such a favourable result was an extraordinary high refinery margin in the second half of 2004. The achieved margin was up to two times higher than long-term average numbers, taken into account in the plan. This positive influence was partially reduced by lower than planned rate of crude oil processing. .

ČESKÁ RAFINÉRSKÁ, a.s.

According to the non-audited results for 2004, the company made a pre-tax profit of CZK 37 mil. Turnover last year reached CZK 8.9 bn. In 2004, Česká rafinérská processed over six million tons of crude oil, which is more than in 2003. Company production last year was affected by the planned shutdown of both its refineries. The shut-down in Kralupy nad Vltavou was aimed at the maintenance of technical equipment, the shut-down in Litvínov was focused on completing the project "Clean Fuels".

UNIPETROL TRADE, a.s.

In 2004, the company made a pre-tax profit of CZK 57.9 mil. and total sales reached CZK 59 mil. The company continued to fulfil its strategic role as the Shared Service Center providing business services for the management of the Unipetrol company and the individual production companies of the group and in managing its foreign operations – affiliated companies and trade agencies. The year 2004 witnessed a significant improvement in trade performance of affiliated companies and trade agencies and an increase in the share of group's products in the overall trade volume of affiliated companies. The revision of geographic market coverage continued and resulted in the sale of the company Chemapol Scandinavia and the liquidation of the company Aliachem Benelux, both of which could not fulfil their roles of the key trade tool on their respective markets. On the other hand, activities on the territories of the Russian Federation and Germany were substantially strengthened.

UNIPETROL, a.s.

The parent company of the Unipetrol group made a pre-tax profit of CZK 119.4 mil. in the said period and revenues exceeded CZK 161 mil. Compared with 2003, when the company registered a loss of CZK 220 mil., this result reflects an improved economy in all subsidiaries.​