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The Warsaw Voice » Business » March 9, 2018
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Lotos fuel group reports profit
March 9, 2018   
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Listed fuel group Lotos reported a 4th quarter 2017 attributable net profit of PLN 484.7 million, slightly below market expectations for PLN 503.4 million, the group financial report for 2017 showed.
According to Lotos CEO Marcin Jastrzebski, the fuel group took PLN 177.5 million in EBITDA earnings from its upstream segment, down by 23.1% year on year as production declined in all locations, he said. In his opinion the group is facing a difficult 2018 due to tough macroeconomic conditions. Still the group expects to pay a dividend from 2017 profit.
Jastrzebski believes the proposed by the government merger with PKN Orlen (the Polish fuel leader) is a good idea as it will increase companies' security and state's energy security.
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