Orlen SA (STU:PKY1)
€ 15.288 -0.348 (-2.23%) Market Cap: 17.72 Bil Enterprise Value: 20.50 Bil PE Ratio: 5.37 PB Ratio: 0.51 GF Score: 78/100
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Q3 2022 Polski Koncern Naftowy Orlen SA Earnings Call Transcript

Nov 29, 2022 / 11:00AM GMT
Release Date Price: €13.42 (+1.74%)
Edyta Olkowicz

Good afternoon, ladies and gentlemen. Welcome to the conference calls, which will be devoted to the performance of Grupa ORLEN, the ORLEN Group after the third quarter of 2022.

Today's speakers will include Jan Szewczak, CFO; and Mr. Armen Artwich, Management Board member for Corporate Affairs. Again, a very good afternoon to you, and I'll give the floor over to my fellow speakers.

Jan Szewczak
Polski Koncern Naftowy ORLEN Spólka Akcyjna - CFO & Member of the Management Board

Good afternoon, and welcome to yet another conference call after the third quarter of 2022. Before I move on to a more in-depth discussion of the presentation and our performance, I would like to have a few words of introduction in order to do away with the myths and misconceptions that our corporation makes money on Poles and their wallets. Our profit for the third quarter went down by nearly PLN 300 million year-on-year. That is the truth we'll have to share with you, mainly based on a downward trend on margins on fuels going down by 2% in Poland.

So the

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