PKN ORLEN is one of the largest oil refining companies in Central and Eastern Europe. We process crude oil into unleaded petrol, diesel fuel, furnace oil, aviation fuel, plastics and petrochemical products. The Company manages seven refineries in Poland, the Czech Republic and Lithuania. The Company’s integrated refinery and petrochemical complex, located in Płock, is ranked among the most modern and efficient facilities of its kind in Europe. In 2008, total crude oil throughput in the ORLEN Group exceeded 22.8 million tonnes. We have the largest petrol station network in Central Europe, located in Poland, Germany, the Czech Republic and Lithuania. Our petrol stations offer top quality products and services to our customers. As a background for the PKN ORLEN retail network, we have an effective logistics infrastructure consisting of above and underground storage facilities and long-range pipeline networks.
This report only concerns PKN ORLEN, but to visualise the scope of the Group’s business, it is worth mentioning that as of December 2008, ORLEN Group consisted of 131 companies, of which 87 were subsidiaries (36 – direct and 51 – indirect).The number of directly affiliated entities was 58, indirect affiliates – 73, and out of 3 joint venture companies, 2 were directly and 1 – indirectly affiliated.
PKN ORLEN is a stock company, with its shares listed on the Warsaw Stock Exchange and on the London Stock Exchange, the latter in the form of Global Depository Receipts (GDRs). The Bank of New York Mellon is the depository of the Company’s depository receipts. The transaction unit on the London Stock Exchange is 1 GDR, which equates to two shares in the Company. Trading in depository receipts also takes place in the USA, on the OTC market. The shares of PKN ORLEN were first listed in November 1999. They are listed in the continuous quotation system of the Warsaw Stock Exchange basic market and are included in the WIG20 and WIG indices of the largest companies, and the WIG-fuel sector index.
The Company’s share capital is PLN 534,636,326.25 divided into 427,709,061 ordinary bearer shares with a par value of PLN 1.25 per share.
The shareholding structure did not change during 2008.
The table below presents the changes that have taken place in 2009.
* In its current report, no. 19/2009 of 20 February 2009, PKN ORLEN informed that ING Otwarty Fundusz Emerytalny held, as on 20 February 2009, 22,118,813 shares in PKN ORLEN S.A., representing 5.17% of the Company share capital. PKN ORLEN shares held by the Fundusz entitle it to 22,118,813 votes at the Company’s General Meeting, which represents 5.17% of the total number of votes.
The table below gathers together some crucial data on PKN ORLEN. The environmental indicators apply to the Production Plant in Płock. Such a cross-sectional look at our Company makes the essential information readily available, at the same time presenting trends in various areas in the period 2006–2008.
| 2006 | 2007 | 2008 | |
|---|---|---|---|
| I. Total revenue on sales | 33 501 034 | 42 703 668 | 57 226 844 |
| II. Operating income | 2 001 006 | 2 093 194 | 636 354 |
| III. Profit/(loss) before tax | 2 602 229 | 3 257 469 | [2 063 057] |
| IV. Net profit/(loss) | 2 199 876 | 2 759 859 | [1 570 947] |
| V. Net operating cash flow | 1 859 752 | 847 144 | 1 292 773 |
| VI. Net investing cash flow | [6 945 423] | [1 423 667] | [1 993 857] |
| VII. Net financing cash flow | 5 109 647 | 435 476 | 975 898 |
| VIII. Net increase/(decrease) in cash | 23 976 | [141 047] | 274 814 |
| IX. Net profit/(loss) and diluted profit/(loss) per ordinary share (in PLN) | 5,14 | 6,45 | [3,67] |
| As on 31 December 2006 | As on 31 December 2007 | As on 31 December 2008 | |
| X. Fixed assets | 18 996 554 | 19 958 199 | 20 427 025 |
| XI. Current assets | 8 474 447 | 12 011 508 | 11 572 579 |
| XII. Total assets | 27 471 001 | 31 969 707 | 31 999 604 |
| XIII. Long-term liabilities | 4 249 852 | 7 289 067 | 1 216 318 |
| XIV. Short-term liabilities | 8 211 563 | 6 847 058 | 15 401 410 |
| XV. Equity | 15 009 586 | 17 833 582 | 15 381 876 |
| XVI. Share capital | 1 057 635 | 1 057 635 | 1 057 635 |
| XVII. Number of shares | 427 709 061 | 427 709 061 | 427 709 061 |
| XVIII. Book value and diluted book value per share (in PLN) | 35,09 | 41,7 | 35,96 |
* Selected financial data concerns PKN ORLEN and applies to the year completed on 31 December
| 2006 | 2007 | 2008 | |
|---|---|---|---|
| Crude oil | 13 612 | 13 646 | 14 218 |
| Petrol | 2 723 | 2 610 | 2 800 |
| Diesel fuel | 3 995 | 4 568 | 5 078 |
| Ekoterm | 1 207 | 840 | 840 |
| Aviation fuel JET A-1 | 402 | 355 | 418 |
| LPG | 220 | 190 | 223 |
| 2006 | 2007 | 2008 | |
|---|---|---|---|
| Water consumption from the Vistula (in m3) | 22 371 985,00 | 23 721 604,00 | 22 991 953,00 |
| Sewage discharge into the Vistula (in m3) | 10 641 497,00 | 12 744 813,00 | 12 381 024,00 |
| COD** load in sewage discharged into the Vistula (kg/y) | 953 132,00 | 974 684,00 | 676 524,00 |
| Total emissions of all pollutants (in Mg), including: | 6 94 619,56 | 6 270 414,25 | 6 189 145,40 |
|
Sulphur dioxide |
30 578,34 | 20 973,30 | 20 444,59 |
|
Nitrogen monoxide (as per nitrogen dioxide) |
7 983,84 | 7 474,71 | 6 821,48 |
|
Carbon monoxide |
307,60 | 762,38 | 812,16 |
|
Total hydrocarbons |
1 244,07 | 1 397,44 | 1 384,01 |
|
Fuel combustion dust |
748,10 | 574,53 | 453,34 |
|
Carbon dioxide |
6 553 571,87 | 6 238 941,29 | 6 158 959,11 |
|
Other pollutants |
185,74 | 290,60 | 270,71 |
** COD – chemical oxygen demand
| 2006 | 2007 | 2008 | |
|---|---|---|---|
| Environmental charges (in PLN) including: | 21 266 025,72 | 17 048 947,56 | 16 572 326,63 |
|
transport for emission (including transport)* |
19 154 522,78 | 15 184 647,46 | 14 784 628,49 |
|
for water consumption |
1 037 386,74 | 1 120 609,14 | 1 085 832,47 |
|
for sewage discharge |
1 074 116,20 | 743 690,96 | 701 865,67 |
| Investment expenditures for environmental protection(in PLN) | 150 486 556,49 | 122 205 258,30 | 259 126 877,37 |
* The amount includes charges for CO2 trading
| 2006 | 2007 | 2008 | |
|---|---|---|---|
| Employment as on 31 December | 4780 | 4748 | 4725 |
| (Accidents at work (including serious accidents) | 38 | 26 (1) | 26 |
| Absence from work following accidents at work | 1446 | 1340 | 952 |
The table is supplemented with a chart presenting pollutant emission. As a company aware of its environmental impact, we strive to achieve as much environmental neutrality as possible in our production, storage and distribution processes. The environmentally-friendly investment projects we have implemented in recent years have enabled us to significantly reduce pollutant emission while at the same time increasing crude oil throughput.
Our ambition is to make PKN ORLEN a safe workplace, and our target situation is zero accidents. We base our work on the assumption that effective prevention brings a feeling of safety which not only enables undisturbed work but also has an economic dimension.
PKN ORLEN is an unquestioned leader in the Polish fuel market. For years, we have been supplying our customers with top quality products and reporting continuous growth in sales. This trend was confirmed by surveys conducted by Polska Organizacja Przemysłu i Handlu Naftowego (POPiHN, the Polish Organisation of the Oil Industry and Trade), whose members are companies from the Polish fuel market.
Source: POPiHN
ORLEN Group's brands
