PKN ORLEN sums up its retail and power generation segments

by   CIJ News iDesk II
2021-02-10   10:00

In 2020, PKN ORLEN posted strong LIFO-based EBITDA of PLN 12.1bn and net profit of PLN 3.4bn, including a gain on the purchase of Energa shares. Key growth projects were continued during the year. As planned, a total of PLN 9bn was spent on the projects, according to PKN ORLEN. The retail segment delivered record earnings of PLN 3.3bn, with EBITDA LIFO posted by the power generation business also at a level of PLN 3.4bn. Despite adverse macroeconomic impacts related to the COVID-19 pandemic, revenue came in at PLN 86.2bn. PKN ORLEN at the end of November last year ratified its long-term strategy, and in September its climate policy, providing for investments to be made until 2030 to enable the Company to achieve climate neutrality by 2050.