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Czech Unipetrol reaches record operational profit in Q2

by ChemOrbis Editorial Team - content@chemorbis.com
  • 23/07/2015 (18:18)
According to media reports, the Czech Republic’s Unipetrol posted a record operational profit in the second quarter of CZK3.959 billion ($160.6 million). Unipetrol’s record profit was attributed to favorable macroeconomic conditions, higher refining capacity as well as increase in sales in the retail and downstream segments.

In the downstream segment covering refinery and petrochemical sectors, the company recorded earnings before interest, taxes, depreciation and amortization (EBITDA) of CZK3.910 billion ($158.6 million) in the second quarter. The improvements in the downstream segment were attributed to lower energy costs mainly as well as increasing sales of refinery products, propylene, benzene and PP. The volume of crude oil processed posted an increase of 39% on the year to reach 1.845 million tons. Meanwhile, utilization of refining capacities reached around 95% due to good demand for refinery products and reliable production.

Meanwhile, petrochemical sales in the downstream segment reached 442,000 tons in the second quarter, posting a slight decrease of 1% on the year. PE sales remained constant on a yearly basis while PP sales jumped 10%.
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