02/07/2020 | Press release | Distributed by Public on 02/07/2020 12:59
The Management Board of Grupa LOTOS S.A. (the 'Company') hereby presents estimates of the LOTOS Group's Q4 2019 consolidated results:
Following the commissioning, on December 1st 2019, of the Delayed Coking Unit ('DCU'), one of the key components of the EFRA project, in October and November 2019 income and expenses related to DCU products were not recognised in the consolidated statement of comprehensive income but decreased and increased the capital expenditure, respectively. As a result, the estimated margin (which represents a reduction of the capital expenditure in Q4 2019) is PLN 0.09 bn.
The presented amounts are initial estimates, subject to revision. The final amounts will be published in the 2019 annual report, due to be released on March 12th 2020.
Legal basis: Article 17(1) of MAR - Inside information