The Orlen Group reached 1 billion 383 million net profit in 2024 – the company said on Tuesday in a stock exchange annual report. In 2023 it was 20 billion 969 million. President Ireneusz Fąfara explains where this difference from.
According to the consolidated annual report of Orlen published on Tuesday, in 2024 the Orlen Group reached PLN 1 billion PLN 383 million net profit, while in 2023 it was PLN 20 billion 969 million.
Incorrect decisions of its predecessors
In a letter to the shareholders of Orlen, the president of the group Ireneusz Fąfara emphasized that the financial results were charged PLN 13.5 billion in write -offs, often resulting from previous erroneous management decisions. “Still, we have developed very good operational results and implemented strategic development investments” – he noted.
Referring to consolidated results for 2024, in a press release, Orlen emphasized that energy and gas were responsible for nearly 80 percent. Operational profit of the group's EBITDA, which was PLN 35.5 billion before the write -offs.
At the same time, the company calculated that in 2024 it allocated PLN 32.4 billion for developmental investments. Among the key projects that are implemented, Orlen mentioned, among others The first Baltic Power wind farm, two gas power plants in Ostrołęka and Grudziądz, a project to modernize and build over 20 thousand. km of energy networks, as well as land investments Renewable energy sources and oil extraction and natural gas.
Source of the main photo: Tomasz Jastrzebowski / East News