Unipetrol reported revenues totalling CZK 23.11bn for Q3 2016, down 22% y/y. The decline was driven by lower crude oil prices and weaker sales of petrochemical and refined products. EBITDA LIFO totalled CZK 1.92bn and net profit reached CZK 722m. The financial results were influenced by limited availability of production capacities. The agreed additional payment of CZK 2.2bn for the insurance claim related to the ethylene unit incident and better results generated by the retail segment were positive factors. Unipetrol’s general director and board of directors chairman Andrzej Modrzejewski has stated that the refineries in Kralupy nad Vltavou and Litvínov are currently running at full capacity.
