Orlen won the Sunday trade ban? Shops with record sales

The largest Polish oil company presented the results for the second quarter of 2018. Net profit amounted to PLN 1.74 billion (PLN 1.54 billion in the second quarter of 2017) and the figure for Consolidated business reached PLN 26.7 billion (PLN 23.02 billion in 2017). In turn, on the whole of the first half, this gave Orlen 2.78 billion PLN of consolidated net profit. These good results were naturally sparked by the enthusiasm of exchange investors and the Orlen exchange rate rose by almost 4%

. Read more: The President of PKN Orlen will not receive a 100% increase. The Treasury changed its mind at the last minute

The effect of a ban on trade – station sales rise

– The good financial results generated in the second quarter of this year , including a record trading result and strong financial fundamentals, provide a solid foundation for implementing our strategic plans – said PKN Orlen Chairman Daniel Obajtek.

Retail Segment PKN Orlen makes a record profit of PLN 677 million (up 18% year-on-year). These good results are the merit of all the markets where PKN Orlen is present. It is worth mentioning that the significant increase in profit was achieved by the increase in sales volume of 5.5%

At the end of the second quarter of 2018, the network of PKN Orlen station had 2782 stations (an increase of 38 in all markets). The restaurant chain included 1907 establishments, including 1621 Stop Cafe (including 231 O! SHOP stores) in Poland, 229 Stop Cafe in the Czech Republic, 23 Ventus Stop Cafe in Lithuania and 34 Star Connect in Germany.

Orlen admits, that he had a worse margin on petrochemicals and heavy refinery fractions, but he offset it by the increase in sales.

Read more: PKN Orlen is moving south of Europe. Will fight with the Hungarian MOL?

Orlen reduces the debt

The group boasts in a press release that he managed to reduce the level of debt of PLN 0.9 billion thanks to the positive influence of the activities of Exploitation. At the same time, it has successfully completed PLN's one billion retail bond issuance program, allowing for better diversification of funding sources.