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Naftobazy petroleum storing giant doubles net income in HI

APA - Austria Presse Agentur
opublikowano: 04-08-2005, 15:34

Warsaw (Puls Biznesu) – Naftobazy, Poland’s biggest company storing and reloading petroleum products, had PLN 24.9m (EUR 6.1m) of net income in the first half of the year, or nearly twice as much as in the same period of last year (PLN 12.8m). Sales of the state-owned enterprise grew to PLN 104.3m from PLN 91.5m.

Warsaw (Puls Biznesu) – Naftobazy, Poland’s biggest company storing and reloading petroleum products, had PLN 24.9m (EUR 6.1m) of net income in the first half of the year, or nearly twice as much as in the same period of last year (PLN 12.8m). Sales of the state-owned enterprise grew to PLN 104.3m from PLN 91.5m. At the end of the year, the net income is to be smaller, however, and amount to PLN 24.5m. “In the second half of the year, we will start renovating works”, Jerzy Malyska, Naftobazy CEO explained.

Good results were possible to new clients and bigger orders from old ones. “Lotos doubled its orders. Mozejki, the Lithuanian refinery, is also storing more and more fuel in Naftobazy”, Jerzy Malyska said. He added that his company has not increased fees for several years. “Restructuring is bringing its first effects. Last year, we closed four of 22 fuel bases. Two other unprofitable stores will join them till the end of the year”, Naftobazy CEO added. The company has reduced employment from 1,359 in 2003 to 850. The number will fall to 755 employees. “This will end our restructuring programme”, Jerzy Malyska promised.

The company plans investments. It has to adopt its infrastructure to EU environment protection requirements. New stores will be built, too. “We plan the investments in the years 2006-2008. I cannot reveal any details now”, Jerzy Malyska said.

(PLN 1 = EUR 0.245)

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Podpis: APA - Austria Presse Agentur

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