Gains despite the fall in oil prices and fuel – Niezalezna.pl

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in the first quarter of 2016. Lotos Group generated nearly 106 million zł consolidated net profit compared with more than 100 million zł consolidated net loss recorded in the same period last year The operating result (EBIT) amounted in the reporting period, 138 million zł, and EBITDA (operating profit plus depreciation and amortization) of 400 million zł – the company said.

A significant impact on its results were declines in oil prices (-37 % compared to the first quarter. ub. the / r / r /) and natural gas (-40% y / y). Additionally influenced decrease in quotations so. middle distillates, including diesel (-44% y / y), light fuel oil (-40% y / y) and aviation fuel (-39 y / y).

A slightly higher (by about . 6%) Quarterly average dollar exchange rate mitigated the negative impact of lower trading prices of middle distillates and partially offset the negative impact of low prices of crude oil and gas. The company also said that its net debt in March 2016. Amounted to 5 569 million zł and was lower by 132 million zł compared to December 2015.

In addition, the average daily production of Lotos Petrobaltic Norway, Poland and Lithuania amounted in the first quarter. 2016. 29.8 thousand. barrels and it was the highest in company history. Throughout the first quarter. This company has extracted over 2.6 million barrels (154% y / y).

As part of the project EFRA – modernization of the Gdansk Refinery, in the first quarter. 2016. Concluded another contracts implementing the framework contract for the Engineering, Procurement and construction inter-connections and auxiliary installations.

at the end of the first quarter. this year. Network Lotos operated 477 petrol stations. Compared to the state on March 31, 2015 there was a significant (32) increase in the number of petrol stations, including 25 facilities has increased the number of stations in the economy segment LOTOS Optima.