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2015.09.08 13:45

Orlen Lietuva improves results amidst pressure of operational costs

DELFI|The Lithuania Tribune2015.09.08 13:45

EBITDA LIFO result of Orlen Lietuva in the third quarter amounted to USD 54 million and was USD 58 million higher, year-on-year, supported by favourable macroeconomic environment in this period.

EBITDA LIFO result of Orlen Lietuva in the third quarter amounted to USD 54 million and was USD 58 million higher, year-on-year, supported by favourable macroeconomic environment in this period.

Ten percent lower sales volumes in Q3, year-on-year, were mainly a result of lower sales volumes in seaborne as well as in Latvia and Estonia.

"Orlen Lietuva financial results have improved in the past three months. We are noticing the positive effects of our efforts to raise economic efficiency of our operations and capacity to flexibly adjust to market conditions. Our aim is to use every business opportunity in this competitive surrounding. However, we are also ready to reduce our production capacity or even temporary stop the production if the market becomes unfavourable," said Ireneusz Fafara, CEO of Orlen Lietuva.

The company is still under a pressure of high operational costs, including logistics, especially compared to its competitors from other countries.

Orlen Lietuva is the biggest Lithuanian company and exporter of oil products.

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