PKN Orlen refiner reports Q4 loss
January 24, 2013
PKN Orlen fuel group posted PLN 276.5 million attributable net loss in Q4 2012, down from PLN 619 million profit in Q4 2011, Q4 financial report out Wednesday morning showed.
The net loss was alleviated by a decrease in the value of PKN Orlen’s foreign-currency denominated debt as the zloty has strengthened.
PKN Orlen had warned it expected to post a Q4 operating loss of PLN 0.7 billion including a PLN 0.7 billion impairment mainly against Orlen's Czech unit Unipetrol.