Compared to the previous year, sales revenue grew by 32 percent. – from 282.4 billion to 372.8 billion zlotys (86.3 billion euros), and adjusted EBITDA (earnings before taxes, interest and depreciation) – from 40.8 billion. to 42.24 billion zlotys (9.8 billion euros).
“Orlen Group’s consolidated result for 2023 was hampered by asset write-downs, which calls into question the accuracy of some of the predecessor decisions. This is 17.2 billion. zloty worth of projects and investments, which we are thoroughly examining,” Orlen’s new CEO Ireneusz Fafara noted in his address to the shareholders.
Earlier this week, Orlen said its board of directors recommended a payout of $4.818 billion for 2023. PLN (1.1 billion EUR) in dividends. The rest of the previous year’s profit would be transferred to the group’s reserve capital.
Orlen Group owns the Lithuanian company Orlen Lietuva, which operates the only oil refinery in the Baltic States.
Source: BNS
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