Improved global economic conditions and a strong position on the Polish market allowed the Orlen Group to generate very good financial results in the second quarter of 2021 and to continue building a multi-energy concern, assessed investment advisor Adam Ruciński. As he emphasized, 50% of sales now come from foreign markets.
“After analyzing the published financial statements of the Orlen Group for the first half of 2021, it can be said that the next milestones in the construction of a multi-energy concern have been achieved,” said Ruciński.
Net sales revenues increased in the second quarter to PLN 29.4 billion from PLN 17 billion in the corresponding quarter of the previous year. The gross profit on sales also increased to PLN 4.8 billion from PLN 2.9 billion in the second quarter of last year.
According to Ruciński, the decrease in operating profit to PLN 2.8 billion from PLN 4.3 billion last year results from the company’s settlement in its books of profit from the occasional acquisition of the Energa Group, which is significantly, by as much as PLN 4 billion, then improved her score.
As the expert emphasizes, from the remaining data that should be noted, investments worth over PLN 4 billion carried out in the first half of the year should be mentioned, from the capex of over PLN 9 billion planned for the entire year 2021.