Orlen Sa (PSKOF) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone. Please welcome to the presentation of Q4 of 2025 Financial and Operating Results of Orlen Group. We are sitting here in Warsaw in Orlen headquarters together with Sławomir Jacek, Component CFO. Konrad Włodarczyk, IR team, Marcin Wiechota, IR team, Damian Wieczorek, head of controlling. My name is Jakub Frejlich, I'm heading investor relations. We're going to have a presentation that will be followed with the Q&A session. Without further ado, I will now hand over to Sławomir, please. The floor is yours. Thank you, Kuba. Good morning, ladies and gentlemen. It's my pleasure as always to present you fourth quarter Oren financial results. And I will start by saying that it was absolutely a very good quarter for us and that the whole year 2025 was very good. So if you look into slide number two, where we present the main financial indicators, we delivered a beta-LIFO in the fourth quarter of 12.2, and altogether almost 42 billion polis lotus for the full 25 year. And I will just add one remark, if we assume the same macro conditions for the past years, as we were operating in 2025, definitely that was the record high year for Orlan. We delivered very robust cash flow from operations, 12.9 in the fourth quarter, all together 47.4 billion poris lotis. We continue our capex program, so 11.5 in the fourth quarter, all together 32.6 billion for the full year and what's very important our net debt position is very very strong namely is a negative meaning cash flow positive of one point i mean cash position of 1.4 billion polis rotis so now let's move to slide number three where we present operating parameters As you know, we operate in upstream and supply downstream energy consumer and products. So let's start with upstream and supply. The market environm...