Poland’s PKN Orlen Q1 net profit slumps 55%; revenue down 19%

摘要

SINGAPORE (ICIS)--PKN Orlen’s first-quarter net profit shrank 55.4% year on year to Polish zloty (Zl) 337m, with sales down by 19%, the energy firm said on Thursday. Revenues for the three months to March 2016 declined to Zl 16.2bn from Zl 20.0bn in the previous corresponding period, with earnings before interest, tax, depreciation and amortization (EBITDA) down 40.2% at Zl 993m, the company said in a statement.