The Lotos Group had a net profit of PLN 810 million, PLN 1.15 billion EBITDA LIFO in the 3rd quarter.

Operating profit amounted to PLN 1,77.3 million compared to PLN 194.1 million a year earlier.

The result of EBITDA LIFO amounted to PLN 1.15 billion compared to PLN 433 million a year earlier, including: the result of the extraction segment at the level of PLN 255 million, the result of the production and trade segment at the level of PLN 907 million.

"In the 3rd quarter of 2021, the company achieved a purified EBITDA of PLN 1.2 billion (+17.1% sq./kw) and a cleared operating profit according to LIFO of PLN 0.9 billion (+23.1% sq./kw). Sales revenue amounted to PLN 9.2 billion (+24.1% sq./kw). The stable financial position of the company is confirmed by the net debt ratio/EBITDA LIFO, which at the end of the third quarter of 2021 was 0,5x (significantly below the strategic objective). The consolidated net profit of LOTOSU amounted to PLN 0.8 billion in the period under discussion" – the release states.

Consolidated sales revenue reached PLN 9 200.5 million in Q3 2021 compared to PLN 5,363.7 million the year before.

"The revenue from the sale of the extractive segment amounted to PLN 436.4 million between July and September. Their growth (+4.5% sq./qu. and +68.8% y/y), despite a decrease in volume (-20.8% sq./k and -19.0% y/y), corresponds to the previously mentioned high gas and Brent oil prices, as well as an increase in the average quarter dollar rate. The cleared EBITDA of this area at the level of PLN 255.4 million is +19.0% higher than in the second quarter of 2021 and by +161.4% higher than in the third quarter of 2020. The resources of 2P LOTOSU at the end of September amounted to 70.7 million boe" – we read further

The Lotos Group has smoothly optimised oil processing with full use of the Gdańsk plant's design capacity, reaching 2.7 million tonnes in the 3rd quarter of this year (+2.7% sq./kw and +5.8% y/y). The surge in natural gas prices during this period led to a break in the cost-effectiveness of using it for technological processes in refineries and thus greater pressure on the production and trade segment results compared to the same period. This translated into an intensive optimization of the operation of the plant in Gdańsk, both on the side of the selection of the input (oil die), the structure of the production of refineries and energy carriers (stage replacement of natural gas with light fractions, i.e. liquid gas, raw and light petrol and low-saturated fuel oil), was also given.

"The revenues from the sale of this segment amounted to PLN 8.9 billion (+24.4% sq.m. and +70% yoy). This is the result of higher sales volume (+10.5% sq/kw and +3.9% y/y) and higher average net sales price (+12.6% sq/kw and +63.6% y/y). During this period, the Gdańsk company recorded a record-high cleared EBITDA of LIFO production and trade segment, which amounted to PLN 0.91 billion (+19.1% sq./kw. and +166.9% y/y)" - the communication also states.

In the third quarter the retail area generated EBITDA profit of PLN 82.5 million, which represents only 5.76% of the EBITDA of the entire company, was noted.

At the end of the third quarter of 2021, Lotos owned 516 fuel stations on its network, i.e. 5 more than at the end of September 2020.

In the first-third quarter of 2021, the company had PLN 2,2221.6 million of consolidated net profit allocated to shareholders of the parent company compared to PLN 1138.7 million of losses a year earlier, with sales revenue of PLN 22,478,8 million compared to PLN 15,705.0 million a year earlier.

„Wynik EBITDA LIFO za 9 miesięcy 2021 r. na poziomie 2,8 mld zł, potwierdzający wysoką skuteczność w adaptacji do wymagających warunków rynkowych oraz elastyczność w zarządzaniu strumieniami produkcji w ramach obszaru rafineryjnego: wynik EBITDA segmentu wydobywczego na poziomie zbliżonym do 0,6 mld zł, o 95% wyżej r/r; osiągnięty dzięki wyższym notowaniom ropy i gazu ziemnego, wsparty przez wzrastającą produkcję na złożu B3 i pod negatywnym wpływem niższych wolumenów wydobycia w Norwegii m.in. z powodu postoju remontowego infrastruktury Sleipner i Utgard; wynik EBITDA LIFO segmentu produkcji i handlu na poziomie 2,1 mld zł, o 150% wyższy r/r, wsparty przez wyższe marże paliwowe, a także marże na produktach naftowych (w szczególności na olejach bazowych) pomimo rekordowych kosztów gazu” – czytamy w prezentacji wynikowej.

W ciągu trzech kwartałów 2021 r. rafineria Grupy Lotos przerobiła 7,3 mln ton ropy naftowej, wobec 7,63 mln ton rok wcześniej.

W III kw. dzienne wydobycie węglowodorów wyniosło 15 170 baryłek ekwiwalentu ropy, wobec 18 727 rok wcześniej, a po trzech kwartałach było to 17 695 boed, w porównaniu do 19 053 rok wcześniej.

Obszar detaliczny wygenerował oczyszczony wynik EBITDA na poziomie 185 mln zł (+3% r/r) w 9 miesiącach oraz 83 mln zł w III kw. 2021 r.

Nakłady inwestycyjne Grupy Lotos w I-III kw. wyniosły 692 mln zł, w tym 198 mln zł w segmencie wydobycia, 253 mln zł w segmencie produkcji i handlu, a 122 mln zł w segmencie detalicznym, podano w prezentacji wynikowej.

W ujęciu jednostkowym zysk netto w I-III kw. 2021 r. wyniósł 1,84 mld zł wobec 877,7 mln zł straty rok wcześniej.

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