Achievements and outlook

Achievements and outlook

Operational conditions

The economic situation in 2009 was better than market expectations. It was a special period for the LOTOS Group. The Anti-Crisis Package was implemented, including cost-cutting measures and streamlining programmes. Grupa LOTOS implemented the 10+ Programme investments according to the timetable and the net financial profit exceeded analysts’ forecasts.

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Financial and economic standing

Mariusz Machajewski, Vice President of the Board

Despite the unfavourable impact of external factors - low oil prices, drops in refining margins and the Ural/Brent differential – in 2009 the LOTOS Group generated an operating profit of PLN 419.8 m.

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Stock exchange

RESPECT

An important event for Grupa LOTOS was the announcement of the first Corporate Social Responsibility Index in Central and Eastern Europe – the RESPECT Index – at the Warsaw Stock Exchange.

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Upstream operations

Platforma wydobywcza

The LOTOS Group focuses its upstream operations on the Baltic Sea, the Norwegian Continental Shelf and in Lithuania. The strategic aim in this segment is to enhance the safety of oil supplies, and hence the energy safety of Poland.

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Operational activities

Program 10+

The 10+ Programme is the largest investment programme in the LOTOS Group. Its aim is to increase the production capacities of the refinery in Gdańsk and thus to improve the competitive position of Grupa LOTOS. In 2009, the construction of several key production systems was completed and they were commissioned successively.

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Market activities

Stacja paliw LOTOS

The majority of the market activity of the LOTOS Group involves sales via the chain of own and partner stations. In this area, the key aim is to strengthen the market position by developing the chain of petrol stations and by the sale of top quality products.

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