Home / Knowledge / News / Textiles / Unipetrol Group Q4 revenues dip 5%
Unipetrol Group Q4 revenues dip 5%
24
Jan '14
In Q4 Unipetrol Group posted operational profit EBITDA LIFO of CZK 252m. Due to lower petrochemical and refinery production sales, as well as refining margins, revenues of the Company decreased by 5% y/y and in Q4 amounted at CZK 25.070 bn.

The results were also negatively influenced by difficult refining macroeconomic conditions. Petrochemical segment continued to be the key profit maker of the Group. Company also recorded improvement in performance of retail segment.

Highlights:

-Purchase of licence for new polyethylene unit PE3

- Unipetrol signed a share purchase agreement with Shell, for Shell’s 16.335% - shareholding in Ceska rafinerska

- Long-term contract on lignite supplies

- New unmanned filling station Expres 24 finished in Ostrava

“We are consequantly aiming at improvement of our financial performance. In Q4 2013 Unipetrol achieved some significant milestones important for realization of our strategy for the years 2013-2017.

"We signed purchase agreement with Shell, which increased our share capital in Ceska Rafinerska to 67.555%. The transaction broughts Unipetrol the qualified majority of votes, allowing significant improvement of the company's operational management,” said the Chairman of the Board of Directors and CEO of Unipetrol, Marek Switajewski

In the refinery segment, the volume of crude processed in Q4 reached 906 kt, comparable amount as in previous quarters of 2013. Nominal utilization ratio reached 81% in Q4. The refinery segment recorded EBITDA LIFO of CZK -391m in 4Q13, mainly due to weakest refining margins since the end of 2011 and low Brent-Ural differential.

The results of the segment were positively affected by variable and fixed costs savings within Operational Excellence Initiatives. Paramo recorded better results, driven by ongoing restructuring of the company. Group sales of refinery products decreased to 762kt (-2% y/y) in Q4, mainly due to planned turnaround of Kralupy refinery in September and October 2013.

Operational profit EBITDA LIFO in the petrochemical segment amounted to CZK +514m in 4Q13. The results of the segment were positively affected by very good petrochemical margins, development of FX – stronger EUR vis-à-vis CZK and USD, higher steam cracker utilization and fixed and variable costs savings within Operational Excellence Initiatives.

In y/y comparison the company recorded negative impact of lower olefin margins, higher renewable energy surcharges and negative impact of CO2 allowances. Company recorded sales decrease of petrochemical products to 420kt in Q4 (-7% y/y) due to slightly lower sales of polymers.

The retail segment recorded a positive EBITDA LIFO of CZK +173m in 4Q13, mainly due to higher fuel margins, and higher fuel sales volumes. The result of the segment in 4Q 2013 was inevitably, accelerated by promotional activities and also by new legislation for mitigation of illegal imports (amendment to Act on Fuels in force from October 1).


Interviews View All

Top executives, Textile industry

Top executives
Textile industry

Union budget 2018-19 will have positive impact on apparel industry

Smarth Bansal, Colorjet India Limited

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Abhishek Ganguly, Puma India

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Paolo Toricella,

Paolo Toricella

Electronics for Imaging (EFI) is a global technology company, based in...

Tom,

Tom

<div>Inkbank is a leading supplier of inkjet inks and inkjet printing...

Riddhi Jain,

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Thomas Ong P S, NanoTextile

Thomas Ong P S
NanoTextile

Malaysian company NanoTextile Sdn Bhd taps into the potentials of...

Marcel Alberts, Eurofibers

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Mohammad Hassan, Biax Fiberfilm

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Robert Brunner, Devereux

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Mike Hoffman, Gildan Activewear SRL

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Seema Agrawal, Artisan Saga

Seema Agrawal
Artisan Saga

Artisan Saga, founded by Kaushik Rajani and Seema Agrawal, is an online...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


November 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Follow us on instagram

Follow

Follow Fibre2Fashion On


Advanced Search