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Refiner Orlen posted record profits in 2021

Orlen Group’s net profit for 2021 amounted to almost PLN 11.2 bn and was the highest in history, the company said.

According to Orlen Group’s published financial data for 2021, the company’s EBITDA profit amounted to over PLN 19.211 bn in that period, sales revenue reached PLN 131.34 billion, while net profit reached PLN 11.19 billion.

“Efficient management, correct diagnosis of the situation and accurate definition of goals have made Orlen Group today a leader of change. A leader of the energy transformation that is inevitable,” PKN Orlen CEO Daniel Obajtek wrote in a letter to shareholders.

“We know how to run [this company] for the benefit of the entire Polish economy. The conflict in Ukraine has clearly shown this,” he said.

According to the Orlen CEO “it is however necessary to redefine the energy mix and implement the changes in such a way as to take full advantage of all the opportunities arising from them”.

The company stressed that “Orlen Group in 2021 achieved the highest net profit in its history at PLN 11.2 billion”.

“The areas of petrochemicals, power generation and refining made the biggest contribution to the record results,” PKN Orlen reported.

Earlier this month, Orlen was given the green light by the country’s competition watchdog, UOKiK, to merge with Polish gas monopolist PGNiG.

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