Maps with the results of Orlen: the mistakes of the previous team for which we pay today

These are, unfortunately, the mistakes of the previous team, for which we pay today – so about copies at PLN 13.5 billion, which influenced the financial result of the Orlen Group for 2024, said Deputy Minister of State Asset Robert Kropiwnicki on Thursday in the Sejm.

On Thursday, Zbigniew Kuźmiuk (PiS) asked about the causes of the financial results of the financial results of the Orlen Group in 2024. He reminded that, according to recently published data, the group's net profit fell 15 times to around PLN 1.4 billion from around PLN 21 billion in 2023.

Answering, Deputy Minister of State Asset Robert Kropiwnicki pointed out that a very good result of PLN 35 billion in the EBITDA ORLEN Operational Profit for 2024. He was charged with write -offs of PLN 13.5 billion, which was associated with the “mistakes of the previous board”. “These are absolute mistakes. The prosecutor's office explains whether these are culpable mistakes or to put it simply whether it is stupidity or thief,” he said.

The deputy head of MAP calculated during his speech in the Sejm that, for example, in the case of the construction of the Olefina III complex at the Main Department of Orlen in Płock, the copy amounted to almost PLN 9 billion, which charged the company's profit, and in the case of oil oil purchase contracts by the subsidiary Orlen Trading Switzerland (OTS) the loss concerned PLN 1.6 billion.

“These are, unfortunately, the mistakes of the previous team, for which we pay today. These are the thick billions that could be allocated to investments in development, and unfortunately they have been written off from profit, because it is actually no already recovered money,” said Kropiwnicki.

Referring to the construction of the Olefina III complex, he assessed that it was an “thoughtlessly made investment that had no right to go.” At the same time, he pointed to delays related to this undertaking and its growing costs.

The deputy minister also answered on Thursday in the Sejm to the questions of MP Tomasz Kostusia (KO) regarding erroneous management decisions resulting in the deterioration of the financial results of Orlen. As the deputy minister reported at the Ministry of State Asset, about 20 proceedings in the prosecutor's office, including the construction of the Olefina III complex or OTS.

“Today it is most important that the prosecutor's office can conduct these proceedings so that they end in accusations and that the independent court can issue a judgment,” said Kropiwnicki. He stipulated that Orlen could not inform about these matters in detail because they are covered by the secret of the investigation. He also noted that “these are really appalling matters.”

Referring to Orlen's actions for the previous management, the deputy head of MAP emphasized that Poles paid a lot for fuel, which fueled inflation and tuned the economy. As he said, inflation, among others Through the activities of the group it was over 14 percent. “It was a lot. And now it can be normalized somehow,” he added.

Kropiwnicki pointed out that the current management of Orlen is still conducting a number of audits whose results will be successively disclosed. He announced that the concern would communicate the completion of further such procedures.

The consolidated annual report of Orlen announced in mid -April shows that in 2024 the Orlen Group reached PLN 1 billion PLN 383 million net profit, with PLN 20 billion in 20 billion in 2023. Energy and gas were responsible for nearly 80 percent. Operational profit of the group's EBITDA, which was PLN 35.5 billion before the write -offs. The report for 2024 stated that the EBITDA of the Orlen Group amounted to PLN 21.9 billion.

By publishing a consolidated annual report in a letter to shareholders, the president of Orlen Ireneusz Fąfara emphasized that the financial results were charged PLN 13.5 billion in write -offs, often resulting from previous erroneous management decisions. “Still, we have developed very good operational results and implemented strategic development investments,” he noted.

In the annual report, the concern calculated that in 2024 he allocated PLN 32.4 billion for development investments. (PAP)

Mb/ MMU/