Unipetrol generated revenues totalling CZK 29.9bn in Q1 2017, up 69% y/y. EBITDA LIFO grew by CZK 3.3bn to CZK 3.6bn. Net profit increased to CZK 2.8bn from the net loss of CZK 25m in Q1 2017. The results were driven primarily by higher petrochemical and refinery production thanks to the relaunch of the ethylene unit in Litvínov. Refinery capacity utilisation grew to 88% from 66%. Processed oil totalled 1.9 million tons (up 35%). Unipetrol’s general director and board of directors chairman Andrzej Modrzejewski has commented that the group focuses on long-term and stable growth of value for shareholders, with the aim to achieve uninterrupted dividend growth in the future. The board of directors proposes dividend payment totalling CZK 1.51bn for 2016.

Source: www.cianews.cz