"We are planning to complete 30 petrol stations by the end of the year," said a spokesperson for PKN Orlen, Dawid Piekarz. "We want to provide good quality gas which will be cheaper, because fixed costs will be cut. Eventually, there will be about 900 economy stations and about 1,000 premium ones," he adds.
Already present in Germany and the Czech Republic, Orlen is working on its further expansion abroad and is now eyeing up 53.7 percent of shares in Lithuanian Możejki. Orlen is already planning to forgo 2005's dividend payout to finance the investment.
In the third quarter Poland's largest refiner posted a net profit of zł.980 million, above market forecasts of around zł.950 million. Orlen's sales for the period equaled zł.13.07 billion, while operating profit came in at zł.1.2 billion, compared to market forecasts of around zł.1.3 billion. PKN analysts say that the net profit forecast of zł.2.7-3 billion in 2005 is realistic.
Andrzej Wróbel
On November 28, PKN Orlen will officially announce the introduction of a new economy brand aimed at filling a gap in the market and regaining Orlen's declining market share in the retail fuel sector.
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