The Orlen Group announced its net profit for 2023

Luc Williams

Orlen announced in a statement that after taking into account income tax in the amount of PLN 10 billion 260 million znet profit of the Orlen Group for 12 months of 2023, it reached PLN 27,565 million and was lower by PLN 12,231 million, year-on-year. In turn, after taking into account tax burdens in the amount of PLN 2,519 million net profit of the Orlen Group in the fourth quarter of 2023 alone, it reached the value of PLN 7,269 million and was lower by PLN 11,248 million year on year – it was indicated.

Everything according to the plan

“The results that Orlen achieved last year are directionally consistent with the Group’s strategic plans. However, it is crucial that Orlen is able to fully use its potential created after the mergers,” he said acting president of Orlen, Witold Literacki, quoted in the information. As he noted, “the implementation of projects supporting the future of the Orlen Group and its transformation is particularly important.”

“We already have it renewable energy sources at a level of nearly 1 GW, which will be constantly increased through investments and new acquisition processes. We also invest in hydrocarbon extraction and refining and petrochemical area“- emphasized Literacki.

Investments in development

He also announced that the company’s planned investment outlays for this year amount to over PLN 38 billion, of which nearly PLN 28 billion is intended for development investments. “We need to implement these plans in the most effective way, so it will be very important to select projects that generate the highest returns and with the best prospects for our shareholders,” added the acting president of Orlen.

The Orlen Group is a multi-energy concern that owns, among others: refineries in Poland, the Czech Republic and Lithuania, as well as a network of gas stations, including in Germany, Slovakia, Hungary and Austria. At the same time, it is developing the hydrocarbon mining segment, the petrochemical segment and renewable energy sources, and plans to develop safe nuclear energy – the company previously informed that by 2030 it intends to launch at least one small nuclear reactor SMR.

Author: Michał Budkiewicz


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