Orlen’s monetary outcomes for the primary quarter of 2024 printed on Wednesday night (Could 22, 2024 – editor) confirmed that the web revenue amounted to PLN 2 billion, 785 million in comparison with PLN 6.7 billion in the identical interval of the earlier 12 months and revenues amounted to PLN 82,332 billion , i.e. PLN 33,496 billion lower than within the first quarter of 2023.
See additionally: A pointy decline in Orlen’s monetary outcomes. The place are the previous billions?
Orlen’s worth is falling, an skilled feedback
In impact the worth of the Płock big drops by virtually 8%. That is the results of, amongst others, disappointing outcomes. Nonetheless, analysts level out a lot of different issues.
“It seems that the weaker report additionally cleared the speculative bag of considerations surrounding the corporate itself, which has been within the highlight in latest months following a PLN 1.6 billion write-off and ongoing investigations. On the similar time, the retail enterprise (now experiencing some slowdown), enlargement exterior Poland and potential advantages from greater refining and fuel distribution margins could present synergistic development potential within the coming quarters. The decline in web margin and decrease revenue point out the excessive cyclicality and vary of outcomes of Orlen’s enterprise, which after the takeover of PGNiG could also be handled as dangerous.” – factors out Eryk Szmyd, XTB analyst.
Particular provide
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See additionally: In Orlen, cleansing up after Daniel Obajtek. The depend exceeded 100 individuals [NAZWISKA]
“Orlen’s 25% decrease gross sales and 70% decrease y/y web revenue counsel {that a} theoretically enticing basic valuation could represent worth enticeAs a result of the corporate’s enterprise mannequin is very prone to cyclical fluctuations in outcomes, and within the following years the corporate will incur greater working prices. The inventory trade presently doesn’t give Orlen an opportunity to beat the document outcomes of 2022.” – provides the skilled in his evaluation.
The president introduced the restoration of belief and revealed the instructions
Throughout the presentation of the outcomes for Q1 2024, the brand new president of the corporate, Ireneusz Fąfara, spoke for the primary time. He repeatedly emphasised the significance of the inventory trade for Orlen and restoring the credibility, transparency and predictability of the biggest Polish firm.
He additionally introduced modifying the present technique and sustaining funding processes in lowering the corporate’s emission depth and utterly abandoning coal within the power section.
