Orlen gave profits for 2024: Group profit Orlen for the previous year will amount to PLN 1.5 billion – estimated the concern in a stock exchange announcement published on Monday. This result is corrected with “permanent loss of assets”. Net profit before the updating write -offs was at the level of PLN 13.2 billion. Estimated revenues were at the level of PLN 294.9 billion. In the results of the group for 2024, Orlen will take into account the reversal of write -offs updating the value of assets in a total amount of approx. PLN 4 billion and copies updating the value of assets in a total amount of approx. PLN 11.5 billion.
Where does the change come from? Orlen had to make copies of, among others In the petrochemical segment, because market conditions are difficult and forecasts do not announce improvement. Problems were multiplied by the New Chemistry project, which replaces Olefiny III. PLN 4.8 billion was spent on its development in 2024, but the company had to recognize that part of this amount would not pay back and make corrections. As much as PLN 5.24 billion was represented. In turn, in the refinery segment, a copy was made due to higher than assumed cost construction of a new installation for the production of bioethanol and delays (and thus higher costs) of building installations for deepened processing oil in Lithuania.
What about dividends? “Copies updating the value of assets are non -cash and are not directly related to the current ones results operational groups of the Orlen group, and therefore are not related to the flow of operating activities, on which it is based new The dividend policy of the Group and the recommendation of the Management Board of February 27, 2025 regarding the payment of dividend for PLN 2024 in the amount of PLN 6.00 per share ” – calms the concern.
Read also: “Gigantic losses of Orlen were revealed. 'They are already calculated in tens of billions of zlotys'.
Source: Orlen (messages)