logo

General
LOTOS Group’s Q1 2022 financial results

LOTOS Group’s Q1 2022 financial results

The second stage of the refinery’s overhaul and the spiking prices of crude oil, natural gas and petroleum products in the wake of the war in Ukraine - these factors had the greatest impact on the LOTOS Group’s performance in the first quarter of 2022. Results posted by the LOTOS Group for the quarter include an operating profit of PLN 1.89bn, adjusted LIFO-based EBITDA of PLN 1.33bn, and consolidated net profit of PLN 1.22bn.

Market activity
Modern bitumen from LOTOS on Kartuska Street in Gdańsk

Modern bitumen from LOTOS on Kartuska Street in Gdańsk

Durable and highly modified MODBIT HiMA bitumen will be used on one of the city's main streets. The use of this modern technology on the renovated Kartuska Street will extend the road's lifetime and improve its acoustic comfort. Drivers and residents will benefit from a durable road that is quieter by 2-5 decibels. The investment is in the final stage and is scheduled for completion in mid-December this year.

Market activity
650 tonnes of LOTOS bitumen at an airport in Lithuania

650 tonnes of LOTOS bitumen at an airport in Lithuania

At the end of October, the A.C.B. Latvia completed reconstruction of runways at the Palanga airport in the western part of Lithuania. The modernisation was intended to increase the carrying capacity and improve the safety of the runway at the airport. As part of the construction works, 83,000 tonnes of mineral and bitumen mixtures were laid. The surface works at the airport required fast pace, mobilisation of the contractor and reliability of deliveries. The high-quality bitumen was supplied by LOTOS Asfalt.

Refining activity
HBO Project moves on to execution

HBO Project moves on to execution

The project intended to equip the LOTOS refinery in Gdańsk with capacities to produce high quality lubricating base oils by 2025 is entering the execution phase. On September 28th 2021, LOTOS signed a contract for the construction of a Hydrocracked Base Oil (HBO) facility. The main contractor is KT - Kinetics Technology S.p.A., with which LOTOS collaborated in the past on the EFRA Project. The value of the HBO Project totals over PLN 1.4bn.

Market activity
New permanent surface at the airport in the capital city

New permanent surface at the airport in the capital city

Modernisation works on the taxiways at the Warsaw Chopin Airport lasted over a month and were completed in the second half of June. As part of the works, the wearing course of the airport surface and navigation lighting were replaced. As part of the project, MODBIT polymer-modified bitumen was used, whose properties made it possible to achieve a durable and rough surface that meets the highest standards of safety.