Warsaw (Puls Biznesu) – The sales of fuel on gas stations is again something PKN Orlen can boast with.
The Polish fuel giant had PLN 14.9 billion (EUR 3.9 billion) of sales in the third quarter. The consolidated net income amounted to PLN 1.037m, or 8.2 percent more than in the second quarter of this year and 4.3 percent more than in the same period of last year.
“The retail sales of fuel generated better results in the third quarter than the chemical unit. In the next quarter it may turn out to be bigger than the petrochemical unit”, Igor Chalupec, PKN Orlen CEO said.
The fourth quarter is also said to start well in the retail unit.
The operating result of retail sales of fuels amounted to PLN 187m, or over three times more than in the third quarter of last year. The company improved the margins of profits and increased sales. Orlen alone sold 814m liters of fuel in the third quarter, or 15.7 percent more than last year.
“We stopped sales decrease and we started to regain the national market”, Wojciech Heydel, PKN Orlen deputy CEO stressed.
In the recent years, Orlen kept losing its market share. In 2003 it had 35.4 percent of the market, in 2004 28.6 percent and at the end of last year 27 percent. According to PKN Orlen’s own estimates, 1 percent of the market is worth PLN 500m of sales.
“We have over 27 percent for sure but it is too early to give specific data”, Wojciech Heydel said.
Foreign subsidies also had a good quarter. Jointly with the gas stations in the Czech Republic and Germany, the group sold 1,398m liters of fuel, or 13 percent more than last year.
(PLN 1 = EUR 0.261)