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UNIPETROL reports net profit of CZK 2.09bn

In 2014 the UNIPETROL Group generated net profit (adjusted for extraordinary effects) of CZK 2.09bn. The results were affected by the posting of several one-time accounting entries. The most significant one was the reduction in the value of refinery assets (- CZK 4.72bn) in Q2 2014. If extraordinary effects are included, UNIPETROL reduced its net loss from –CZK 1.39bn in 2013 to –CZK 556m in 2014. The turnover increased 25% to CZK 124.22bn on top of the completion of the purchase of Shell’s equity share in Česká rafinérská and the related increase in the refinery capacity. Operating profit before interest, taxes, depreciation and amortisation stood at CZK 3.10bn.