UNIPETROL reports net profit of CZK 406m in Q1

15 May '08

3 min read

In the past two years the company went through a massive restructuring, divesting of its non-core asset, eliminating internal inefficiencies and capturing synergies with the parent company, PKN Orlen. The fact that the major changes have been completed is also borne out by the fact that this is the first quarter when no one-offs were affecting financial results.

Volume sales in the petrochemical segment grew significantly after the maintenance shutdown (+ 63% q/q). Also the utilisation ratio of refineries went up q/q (+ 9 p.p.). Retail sales went up by 5% compared with Q1 of last year; however, the financial impact was even more significant. Benzina raised its market share to 13.3% and after reaching the critical mass of rebranded and modernised stations in 2007 the company has launched an advertising campaign to promote the changes.

By the end of the first quarter Benzina completed modernisation of 188 filling stations, of which 86 were rebranded to premium Benzina Plus. Also the number of stations offering premium fuels under the Verva brand has increased, as has the volume of the premium fuels sold.

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UNIPETROL a.s.

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