Orlen Q1 profit beats forecasts on higher margins
Orlen reported a 22.8% rise in first-quarter adjusted core profit to 14.07 billion zlotys. Higher refining margins and cold weather demand drove the beat.
ORLEN SA reported a 22.8% rise in first-quarter adjusted core profit, beating market expectations as regional conflict drove a surge in refining margins. The energy group's LIFO-based EBITDA reached 14.07 billion zlotys ($3.85 billion), surpassing the 13.2 billion zloty consensus. Cold weather in January and February boosted demand for electricity and natural gas, supporting Orlen's energy segment alongside the margin gains.
### War-Driven Margins Offset Impairment Charges The conflict involving Iran pushed Orlen's model refining margin to $17.0 per barrel, up from $8.9 a year earlier. Orlen shares rose 1.6%, outperforming Poland's blue-chip WIG20 index, which fell 0.1%, as well as regional peers UNIMOT SA, which fell 0.5%, and MOL HUNGARIAN OIL AND GAS PL, which rose 0.2%.
