About the ORLEN Group

We are an integrated multi-utility group with operations in Central Europe and Canada.

We provide energy and fuel to over 100 million people in Europe, and our advanced products are available in almost 90 countries on six continents. We have been consistently building our position of a regional leader in energy transition by deploying clean and environmentally friendly technologies and low- and zero-carbon power generation sources. Our activities are guided by our strategy to achieve carbon neutrality by 2050.

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The ORLEN Group’s core business consists in the production and distribution of electricity, crude oil processing, and production of fuels, petrochemical and chemical products, as well as sale of the Group’s products on the retail and wholesale markets. The ORLEN Group is also engaged in hydrocarbon exploration, appraisal and production.

The ORLEN Group companies’ business includes also services: crude oil and fuel storage, transport, repair and maintenance services, laboratory, security, project, administrative, insurance and financial services.

Key figures and events in 2021

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I. MACROECONOMIC DATA (average value for the period) unit. 2021 2020
Brent oil USD/bbl  70.9  41.8
Ural oil USD/bbl  68.7  41.7
WTI oil USD/bbl  59.8  39.2
Ural/Brent differential USD/bbl  1.9  0.6
Natural gas PLN/MWh  226  53
Electric Energy PLN/MWh  398  209
Emission allowances EUR/t  53.7  24.8
Model Downstream margin USD/bbl  8.6  7.3
Model refining margin USD/bbl  2.4  2.2
Model petrochemical margin EUR/t  1,273  839
Average exchange rate USD/PLN PLN  3.8647  3.8978
Average exchange rate EUR/PLN PLN  4.5670  4.4449
Average exchange rate EUR/USD USD  1.1817  1.1404
Sales of products and goods, including: ‘000 tonnes  38,923  38,260
Refinery ‘000 tonnes  24,389  23,560
Petrochemicals ‘000 tonnes  4,906  5,106
Retail ‘000 tonnes  8,974  8,852
Upstream ‘000 tonnes  654  742
Production and sales of electric energy and useful heat, including:
Net electric energy production TWh  11.4  11.0
External wholesale TWh  7.6  7.2
External retail sale TWh  19.4  13.6
Useful heat production PJ  45.5  44.0
Crude oil throughput in the ORLEN Group, of which: ‘000 tonnes  29,919  29,485
Crude oil throughput in PKN ORLEN ‘000 tonnes  14,529  15,306
Crude oil throughput in the Unipetrol Group ‘000 tonnes  7,123  6,076
Crude oil throughput in the ORLEN Lietuva Group ‘000 tonnes  7,954  7,847
3.1. Consolidated statement of profit or loss and other comprehensive income
Sales revenues PLN million  131,341  86,180
Profit from operations under LIFO increased by depreciation and amortization (“EBITDA LIFO”) before impairment allowances1, including: PLN million  14,154  12,430


PLN million  3,614  (11)


PLN million  4,295  2,309


PLN million  3,680  7,702


PLN million  2,897  3,232


PLN million  387  322

Corporate Functions

PLN million  (719)  (1,124)
Profit from operations under LIFO increased by depreciation and amortization, including: PLN million  14,965  10,839

LIFO effect

PLN million  4,246  (2,374)
Profit from operations increased by depreciation and amortization (“EBITDA”), including: PLN million  19,211  8,465

Depreciation and amortization

PLN million  5,341  4,557
Profit / (loss) from operations (“EBIT”) PLN million  13,870  3,908
Net profit / (loss) PLN million  11,188  2,825
Profit/(Loss) attributable to shareholders of the Parent Company per share (EPS) PLN/share  26.00  6.44
3.2. Consolidated statement of financial position

Total assets

PLN million  106,754  84,048


PLN million  52,578  42,389
3.3. Consolidated statement of cash flows

Net cash from operating activities

PLN million  13,295  7,247

Net cash used in investing activities, including:

PLN million  (9,739)  (8,495)

Increase in non-current assets

PLN million  9,890  8,992

Free cash flow2

PLN million  3,556  (1,248)

Net cash used in financial activities

PLN million  (2,006)  (3,711)

Dividends paid

PLN million  (1,498)  (428)
3.4. Basic ratios
Liquidity ratios, including:
Current liquidity ratio x  1,3  1.1
Quick liquidity ratio x  0.6  0.5
Turnover ratios, including:
Receivables turnover days  27  34
Liabilities turnover days  29  34
Inventory turnover days  43  58
Profitabilities ratios, including:
Return on assets (ROA) %  9.9  4.8
Return on equity (ROE) %  20.2  9.4
Return on capital employed (ROACE) %  17.5  9.2
Return on capital employed under LIFO (ROACE LIFO) %  11.8  13.2
Gross margin on sales %  9.8  5.2
Net margin on sales %  8.0  4.8
Debt ratios, including:
Net debt PLN million  12,275  13,060
Net debt / EBITDA x  0.62  1.27
1 The operating results for 2020 and 2021 include impairment losses on assets of: PLN (1 591) million and PLN 811 million.
2 Free cash flow = net cash from operating activities + net cash from investing activities.

Tax transparency

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It is PKN ORLEN’s ambition to set standards for the discharge of obligations relating to public dues and other public obligations under Art. 84 of the Polish Constitution.

PKN ORLEN has prepared a tax strategy, which is consistent with the ORLEN Group’s business strategy until 2030.

Implementation of the tax strategy means ensuring that all obligations imposed by tax laws are fulfilled correctly and on time, so that the Company contributes to providing public funds to enable or support important social initiatives. With this in mind, PKN ORLEN has introduced increased standards for the performance of tax obligations.

Tax security is the core value for PKN ORLEN in the performance of the tax function.

PKN ORLEN has internal structures, infrastructure and technological solutions as well as a system of division of powers and responsibilities enabling proper performance of the tax function. It has put in place uniform high-standard rules for the application of tax laws, including procedures for internal communication and approval of decisions on tax matters.

A number of internal procedures have been introduced to identify and mitigate tax risks.

Members of the PKN ORLEN’s personnel who are in charge of particular activities connected with the tax function have extensive knowledge of tax issues and appropriate qualifications.

In order to ensure proper tax risk management, the Tax Office operating within the Company’s internal structures analyses tax consequences of PKN ORLEN’s projects and activities and is involved in the process of decision making on planned and executed transactions at the earliest possible stage.

In the case of particularly complex issues or issues with respect to which there are differing rulings of courts or other competent authorities, the Company uses expert opinions and studies prepared by independent experts from reputable tax consultancies.

Internal functional audits are held at the Company to examine correctness of application of tax laws by PKN ORLEN’s organisational units, and the Company’s tax settlements are verified in the course of audits performed by independent specialised entities, including statutory auditors.

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PKN ORLEN is an active participant in public life. The Company engages in initiatives promoting development and improvement of tax laws in Poland, delivers opinions on proposed legislation, takes part in social consultations in legislative processes, and submits proposals on tax law areas that require regulation.

The Company monitors amendments to the tax laws on an ongoing basis and implements the required changes in the organisation of its business processes and documentation of business transactions resulting from legal regulations and interpretations issued by tax authorities.

To ensure and maintain the highest level of tax security, the Company uses dedicated IT solutions supporting multi-level verification of not only the economic transactions but also their tax consequences. The tax reporting process is automated and is based on records relevant to each type of tax liabilities. Tax returns and tax information are filed with the tax authorities in an automated manner with the use of IT tools that guarantee full control of the process.

PKN ORLEN fulfils a number of tax obligations in Poland, in particular with respect to the following taxes:

1) Corporate income tax (including withholding tax);
2) Value added tax;
3) Excise tax, fuel charge, emission charge, stocks charge;
4) Personal income tax;
5) Property tax;

6) Retail tax;
7) Agricultural tax;
8) Forest tax;
9) Vehicle tax
10) Tax on transactions under civil law (transfer tax) and stamp duty.

PKN ORLEN has been one of the largest corporate income taxpayers in Poland at least since 2012, that is since individual data of CIT taxpayers has been available to the public on the Ministry of Finance website. For the years 2012–2020, i.e. periods which have already been reported to the tax authorities, the Company paid in total over PLN 3.4 billion in income tax in Poland.

The highest standards of due diligence and tax reporting enhance the Company’s tax transparency, strengthen its credibility in the market, and build trust with external customers.

The Company does not engage in any activities aimed at tax optimisation or tax evasion, nor does it take any actions which may increase the tax risk or expose the state budget or local municipality budgets to the risk of an illegitimate decrease in amounts of public dues.

PKN ORLEN does not have any tax arrears, and all of its tax obligations are fulfilled in a timely manner and with due diligence.

Key events





  • Recommendation of the Management Board of PKN ORLEN to pay dividends for 2020
  • PKN ORLEN’s consolidated results for the first quarter of 2021
  • PKN ORLEN develops hydrogen technology with other partners
  • ORLEN Asfalt produces ecological asphalt for road construction
  • 20 thousand trees for the 20th anniversary of the ORLEN Foundation
  • Launch of the ORLEN surface stations
  • 5th edition of the Bona Fide scholarship program
  • ‘Direction ORLEN’ internship program
  • A promotional campaign entitled ‘So much good at ORLEN stations’




  • PKN ORLEN’s financial results for the second quarter of 2021
  • Geotechnical surveys of the bottom of the Baltic Sea
  • ORLEN Skylight accelerator
  • The extension by the European Commission of the deadline for the implementation of remedial measures under the takeover of Grupa LOTOS by PKN ORLEN
  • Cooperation between ORLEN Południe and PGNiG on the biogas program
  • ORLEN Lietuva is analyzing the possibility of optimizing crude oil processing
  • Sales of ORLEN Asfalt products on international markets
  • Customer service facilities at ORLEN stations
  • New marketing campaigns of PKN ORLEN
  • ORLEN Group 2020 Integrated Report
  • Competition for the ‘The best research work done for Polski Koncern Naftowy ORLEN S.A.’
  • The #DobryKierowca campaign
  • PKN ORLEN is the General Sponsor of SPR Wisła Płock for the 2021/2024 season and the Strategic Sponsor of Wisła Płock for the 2021/2022 season


  • Strategic partnership between PKN ORLEN and the American company GE Renewable Energy
  • Agreement on financing the construction of a gas and steam power plant in Grudziądz
  • Letter of intent between PKN ORLEN and PKP and PESA on cooperation for the implementation of hydrogen technologies in rail transport
  • Letter of intent and contract for the feasibility study between PKN ORLEN and KBR regarding the processing of plastic waste into petrochemical and refining products
  • Strategic goals of ORLEN Unipetrol until 2030
  • Athletes from the ORLEN Sports Group with Olympic medals
  • Jan-Krzysztof Duda among the sportsmen supported by PKN ORLEN
  • Kryscina Cimanouska in the ORLEN Sports Group





Awards and accolades

  • PKN ORLEN comes first in the Top Employer Poland 2021 ranking
  • Daniel Obajtek is named Person of the Year 2020 by the Wprost weekly
  • PKN ORLEN is distinguished with the title of Patron of Polish Sports in Challenging Times
  • Daniel Obajtek receives the Man of Freedom 2020 award from the Sieci weekly
  • ORLEN comes out as the most valuable Polish brand in the Ranking of the Most Valuable Polish Brands published by the Rzeczpospolita daily
  • PKN ORLEN wins the 6th edition of the Trustworthy Brand poll in the Service Station category
  • PKN ORLEN tops the ranking of 200 Largest Polish Companies compiled by the Wprost weekly
  • ANWIL, Energa, and PKN ORLEN are among the winners of the 10th edition of the CSR Leaves ranking of the Polityka weekly
  • PKN ORLEN receives the main award in Fleet Derby 2021 for the best EV charging station network in the Electromobility/EV Charging Station Network category
  • PKN ORLEN comes second in the Fuels, Energy and Hydrocarbon Production category of the 14th edition of the Responsible Companies Ranking
  • ANWIL is awarded the title of Ambassador of the Golden Hundred of Pomorze and Kujawy
  • PKN ORLEN receives the Freedom of Speech Award
  • Service Station of the Year 2020
  • PKN ORLEN is awarded the title of Employer with Heart
  • PKN ORLEN is named Energy Transition Leader
  • PKN ORLEN receives awards in the 16th edition of The Best Annual Report 2020 competition
  • ORLEN service stations rank top in terms of customer confidence
  • ORLEN Golden Spikes for Anita Włodarczyk and Wojciech Nowicki (in a prestigious ranking of Polish athletics)
  • PKN ORLEN tops the 16th ranking of the largest companies in Central and Eastern Europe
  • PKN ORLEN receives the President of Poland’s Business Award in the Responsible Business category
  • PKN ORLEN is among the winners of the Polish Radio’s 5th business ranking ‘Made in Poland – I Like That!’, 2021 edition
  • Queen of Sports’ Laurel for ORLEN
  • ORLEN Group’s Benzina is distinguished as the Most Trustworthy Brand in the Service Stations category
  • PKN ORLEN receives the National Champion title in the Polityka Insight ranking

See also

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