GRI Index: G4-EC1

ORLEN in figures

Key financial data

Key financial data [PLN million] 2013* 2014 2015
Sales revenues 113 597 106 832 88 336
Operating Profit/(Loss) under LIFO increased by depreciation and amortisation (EBITDA LIFO) before impairment allowances **, including: 3 086 5 213 8 738
Downstream 2 407 4 210 7 776
Retail 1 268 1 416 1 539
Upstream (32) 152 44
Corporate functions1 (557) (565) (621)
Operating Profit/(Loss) under LIFO increased by depreciation and amortisation (EBITDA LIFO), including: 3 086 (147) 7 745
Downstream 2 407 (852) 7 640
Retail 1 268 1 440 1 539
Upstream (32) (170) (808)
Corporate functions1 (557) (565) (626)
Operating Profit/(Loss) under LIFO increased by depreciation and amortisation (EBITDA LIFO), including: 3 086 (147) 7 745
PKN ORLEN S.A. 2 074 2 920 4 376
Unipetrol Group 255 478 1 653
ORLEN Lietuva Group (23) (4 375) 1 074
Other 780 830 642
Operating Profit/(Loss) increased by depreciation and amortisation (EBITDA) 2 418 (2 720) 6 235
Depreciation and amortisation, including: 2 111 1 991 1 895
Downstream 1 633 1 408 1 269
Retail 351 355 368
Upstream 6 122 173
Corporate functions1 121 106 85
Operating Profit/(Loss) under LIFO (EBIT LIFO), including: 975 (2 138) 5 850
Downstream 774 (2 260) 6 371
Retail 917 1 085 1 171
Upstream (38) (292) (981)
Corporate functions1 (678) (671) (711)
Operating Profit/(Loss) (EBIT) 307 (4 711) 4 340
Net Profit/(Loss) 90 (5 828) 3 233
Net Profit/(Loss) attributable to equity owners of the Parent 176 (5 811) 2 837
Total assets 51 352 46 725 48 137
Equity 27 551 20 386 24 244
Net debt 4 668 6 720 6 810
Net cash - operating activities 5 540 3 187 5 354
Net cash - investing activities (2 441) (4 020) (4 096)
Investment expenditures (CAPEX) 2 484 3 788 3 183
Return on capital employed (ROACE) [%]2 0.7 1.7 15.2
Return on capital employed under LIFO (ROACE LIFO) [%]3 2.3 8.5 19.5
Net financial leverage [%]4 16.9 33.0 28.1
Net debt/Profit from operations under LIFO plus depreciation and amortisation for the last four quarters (EBITDA LIFO)6 1.51 1.29 0.73
Net debt/Profit from operations plus depreciation and amortisation for the last four quarters (EBITDA)7 1.93 2.55 0.88
Net Profit/(Loss) attributable to equity owners of the Parent per share (EPS) [PLN/share] 0.41 (13.59) 6.63
Effect of inventory valuation under LIFO [PLN million] 2013* 2014 2015
Effect of inventory valuation under LIFO on EBITDA, including: (668) (2 573) (1 510)
PKN ORLEN S.A. (595) (2 272) (1 507)
Unipetrol Group (10) (278) (38)
ORLEN Lietuva Group (44) 10 28
Other (19) (33) 7

*) Restated data – change of consolidation method in accordance to IFRS 11 for Basell ORLEN Polyolefines Sp. z o.o. and Płocki Park Przysłowo-Technologiczny S.A. which are accounted for under the equity method instead of proportionate consolidation method.

**) Impairment allowances of non-current assets included in:
- II quarter of 2014 in the amount of PLN (5.0) billion concerned mainly ORLEN Lietuva of PLN (4.2) billion, refinery part in Unipetrol Group of PLN (0.7) billion and in Spolana from Anwil Group and Rafineria Jedlicze Group in total of PLN (0.1) billion,
- IV quarter of 2014 of PLN in the amount of PLN (0.3) billion regarding ORLEN Upstream Group activities in Canada,
- II quarter of 2015 in the amount of PLN (0.4) billion mainly regarding assets of ORLEN Upstream Group,
- III quarter of 2015 in the amount of PLN (0.1) billion mainly regarding petrochemical part in Unipetrol Group,
- IV quarter of 2015 in the amount of PLN (0.4) billion mainly regarding upstream assets of ORLEN Upstream in Canada.

1) Includes Corporate Functions of the ORLEN Group companies as well as companies not included in any of the above segments.

2) ROACE = profit from operations for the last four quarters after tax before impairment allowances of non-current assets / average capital employed (equity + net debt) for the last four quarters.

3) ROACE LIFO = profit from operations for the last four quarters under LIFO after tax before impairment allowances of non-current assets /average capital employed (equity + net debt) for the last four quarters.

4) Net financial leverage = net debt / equity – calculated at the end of the period.

5) Covenants tested according to loan agreements excluding impairment of non-current assets.

6) Interest bearing debt net of cash and cash equivalents at the end of the period / EBITDA LIFO based on the LIFO method for the last four quarters.

7) Interest bearing debt net of cash and cash equivalents at the end of the period / EBITDA for the last four quarters.

EBITDA LIFO, EBIT LIFO, Depreciation

EBITDA LIFO

Item, PLN million 2013 2014 2014
before impairment allowances1
2015 2015
before impairment allowances1
Refining 466 (2 958) 2 040 4 710 4 751
LIFO effect (Refining) (688) (2 417) (2 417) -1 513 -1 513
Petrochemical 1 941 2 106 2 170 2 930 3 025
LIFO effect (Petrochemical) 20 (156) (156) 3 3
Downstream 2 407 (852) 4 210 7 640 7 776
Retail 1 268 1 440 1 416 1 539 1 539
Upstream (32) (170) 152 -808 44
Corporate functions (557) (565) (565) -626 -621
EBITDA LIFO 3 086 (147) 5 213 7 745 8 738

Depreciation

Item, PLN million 2013 2014 2014
before impairment allowances1
2015 2015
before impairment allowances1
Refining 958 755 755 644 644
Petrochemical 675 653 653 625 625
Downstream 1 633 1 408 1 408 1 269 1 269
Retail 351 355 355 368 368
Upstream 6 122 122 173 173
Corporate functions 121 106 106 85 85
Depreciation 2 111 1 991 1 991 1 895 1 895

EBIT LIFO

Item, PLN million 2013 2014 2014
before impairment allowances1
2015 2015
before impairment allowances1
Refining (492) (3 713) 1 285 4 066 4 107
LIFO effect (Refining) (688) (2 417) (2 417) -1 513 -1 513
Petrochemical 1 266 1 453 1 517 2 305 2 400
LIFO effect (Petrochemical) 20 (156) (156) 3 3
Downstream 774 (2 260) 2 802 6 371 6 507
Retail 917 1 085 1 061 1 171 1 171
Upstream (38) (292) 30 -981 -129
Corporate functions (678) (671) (671) -711 -706
EBIT LIFO 975 (2 138) 3 222 5 850 6 843

1 impairment allowances of assets according to IAS 36

Downstream Segment

Item, PLN million 2013* 2014 2015
Segment revenues, including: 92 986 85 941 69 611
Sales revenues from external customers 77 047 70 549 56 987
Sales revenues from transactions with other segments 15 939 15 392 12 624
Segment expenses (92 710) (85 971) (64 963)
Other operating income 188 468 276
Other operating expenses (399) (5 329) (316)
Other operating income/expenses, net (211) (4 861) (40)
Share in profit from investments accounted for under equity method 41 58 253
Operating profit/(loss) under LIFO increased by depreciation and amortisation (EBITDA LIFO) before impairment allowances 2 407 4 210 7 776
Operating profit/(loss) under LIFO increased by depreciation and amortisation (EBITDA LIFO) 2 407 (852) 7 640
Operating profit/(loss) increased by depreciation and amortisation (EBITDA) 1 739 (3 425) 6 130
Profit/(Loss) from operations under LIFO before impairment allowances 774 2 802 6 507
Profit/(Loss) from operations under LIFO 774 (2 260) 6 371
Profit/(Loss) from operations 106 (4 833) 4 861
CAPEX 1 596 2 714 2 242
Sales (thousand tonnes) 28 376 27 706 30 380

*) Restated data – change in consolidation method for Basell ORLEN Polyolefines Sp. z o.o. and Płocki Park Przemysłowo-Technologiczny S.A. in accordance with IFRS 11.

Retail Segment

Item, PLN million 2013* 2014 2015
Segment revenues, including: 36 624 36 104 31 122
Sales revenues from external customers 36 462 35 913 31 052
Sales revenues from transactions with other segments 162 191 70
Segment expenses (35 695) (35 015) (29 934)
Other operating income 90 182 50
Other operating expenses (102) (186) (67)
Other operating income/expenses, net (12) (4) (17)
Operating profit/(loss) increased by depreciation and amortisation (EBITDA) before impairment allowances 1 268 1 416 1 539
Operating profit/(loss) increased by depreciation and amortisation (EBITDA) 1 268 1 440 1 539
Profit/(Loss) from operations under LIFO before impairment allowances 917 1 061 1 171
Profit/(Loss) from operations 917 1 085 1 171
CAPEX 467 345 448
Sales (thousand tonnes) 7 516 7 776 7 986

*) Restated data – change in consolidation method for Basell ORLEN Polyolefines Sp. z o.o. and Płocki Park Przemysłowo-Technologiczny S.A. in accordance with IFRS 11.

Upstream Segment

Item, PLN million 2013* 2014 2015
Segment revenues, including: 17 298 215
Sales revenues from external customers 17 298 215
Sales revenues from transactions with other segments 0 0 0
Segment expenses (48) (271) (347)
Other operating income 83 4 3
Other operating expenses (90) (323) (852)
Other operating income/expenses, net (7) (319) (849)
Operating profit/(loss) increased by depreciation and amortisation (EBITDA) before impairment allowances (32) 152 44
Operating profit/(loss) increased by depreciation and amortisation (EBITDA) (32) (170) (808)
Profit/(Loss) from operations under LIFO before impairment allowances (38) 30 (129)
Profit/(Loss) from operations (38) (292) (981)
CAPEX 304 499 288
Sales (thousand tonnes) 17 258 310

*) Restated data – change in consolidation method for Basell ORLEN Polyolefines Sp. z o.o. and Płocki Park Przemysłowo-Technologiczny S.A. in accordance with IFRS 11.

Corporate Functions

Item, PLN million 2013* 2014 2015
Segment revenues, including: 314 311 288
Sales revenues from external customers 71 72 82
Sales revenues from transactions with other segments 243 239 206
Segment expenses (1 078) (1 007) (971)
Other operating income 210 112 91
Other operating expenses (123) (86) (119)
Other operating income/expenses, net 87 26 (28)
Share in profit from investments accounted for under equity method (1) (1) 0
Operating profit/(loss) increased by depreciation and amortisation (EBITDA) before impairment allowances (557) (565) (621)
Operating profit/(loss) increased by depreciation and amortisation (EBITDA) (557) (565) (626)
Profit/(Loss) from operations under LIFO before impairment allowances (678) (671) (706)
Profit/(Loss) from operations (678) (671) (711)
CAPEX 117 230 205

*) Restated data – change in consolidation method for Basell ORLEN Polyolefines Sp. z o.o. and Płocki Park Przemysłowo-Technologiczny S.A. in accordance with IFRS 11.

Download the full statement:

ORLEN in figures, XLS
Address already added.
Address deleted from clipboard.
Thank you for sending the survey.
Server error.
Try again later.
Sending error.
Check if all survey fields are completed correctly.
:-(
Sorry, Your browser is not supported.

Please, update Your browser.

We kindly inform that on PKN ORLEN S.A.’s websites cookies are used.

Click in order to dismiss this information.

For more information, click [Privacy policy & cookies].

loader