27th January 2012
Wednesday, February 22nd, 2012
Orlen forecasts disappointing Q4 2011 operating profit
Weak forecasts from Polish fuel giant Orlen regarding its Q4 2011 financial results surprised the market on Thursday.
The company's board revealed that its estimated operating profit for Q4 2011 was approximately zł.100 million. Analysts had been expecting at least zł.700 million, Parkiet reported.
Orlen attributes the predicted low operational profit to low refinery and petrochemical profit margins and a low Ural/Brent differential. Another factor is write downs on foreign investments, mainly in the Czech Republic and Lithuania.
Analysts say, however, that Orlen has a chance in the first quarter of this year to improve its results due to more favorable macroeconomic factors, Parkiet wrote.
From Warsaw Business Journal
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Disappointing profit for Orlen
Orlen to diversify
Lotos, PGE, Orlen prepare for downturn
Lotos, PGE and Orlen prepare for economic downturn
Lotos, PGE and Orlen prepare for economic downturn
Disappointing profit for Orlen
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