OREANDA-NEWS. July 29, 2013. ORLEN Lietuva financial performance in H1 2013 significantly improved comparing to the same period of 2012. EBITDA in LIFO increased by USD 15 million Y/Y, from USD 28 million in 2012 to USD 43 million in 2013. Net cash flow generated from operating activities was above the last year level by USD 251 million and can be explained by the reduction in working capital.
 
“Maintaining the stable operations and constantly increasing of the sales volumes in inland markets throughout the H1 of 2013 enabled ORLEN Lietuva to secure robust operational and financial results in spite of the high price volatility in global markets and changes in the bio fuels regulatory burden in the United States of America, which is one the key gasoline export markets for ORLEN Lietuva,” said Ireneusz Fafara, General Director of ORLEN Lietuva.
 
In H1 2013 ORLEN Lietuva processed 4.5 million tonnes of feedstock. Capacity utilization of Refinery was improved by 21 p.p. versus the same period of 2012, due to lack of any major shutdowns at that time. The continuous focus on the Baltic market share development resulted in the increase of sales volume in Lithuania, Latvia, Estonia markets by 14 %. The total sales volume, including sales to seaborne markets, was higher by 27% Y/Y.
 
During the H1 of 2013 ORLEN Lietuva refinery operated without any major shutdowns and consequently managed to achieve a noteworthy operational availability level of 97%. ORLEN Lietuva is continuously following the energy consumption improvement program which is listed among the key strategic objectives of the company. The reduction of internal usage by 0.4 p.p. was achieved in comparison to H1 2012. The modernization of PENEX Isomerization Unit, that allows to upgrade the octane number for gasolines and to improve the overall product slate, was performed in Q2 2013 where DIP technology scheme was launched.
 
ORLEN Lietuva has transferred fuel cards worth LTL 400,000 to support the Lithuanian Presidency of the Council of the European Union. For its support of the organization and promotion of the Lithuanian EU Presidency, the Company has received the prestigious title of Presidency Partner.