02/08/2021 | Press release | Distributed by Public on 02/08/2021 15:03
Grupa LOTOS S.A. (the 'Company') hereby publishes estimates of the LOTOS Group's consolidated results for the three months ended December 31st 2020:
The Company also announces that consolidated EBIT for the reporting period was affected by:
In addition, the Company announces that in view of the deficit in CO2 emission allowances resulting from its CO2 emissions exceeding the allowances allocated to it for 2020 under the EU ETS (European Union Emissions Trading System/Scheme), the Company increased the provision for the deficit, which reduced its consolidated EBIT for the three months ended December 31st 2020 by PLN 0.07bn. In the fourth quarter of 2020, the Company also recognised a provision for the National Reduction Target, which reduced its consolidated EBIT by PLN 0.11bn.
Normalised LIFO-based EBITDA and normalised LIFO-based EBIT were similarly affected, with a PLN 0.07bn decrease due to the increased provision for the deficit in CO2 emission allowances and a PLN 0.11bn decrease due to recognition of the provision for the National Reduction Target.
The presented figures are initial estimates, subject to revision. The final amounts will be published in the 2020 annual report, due to be released on March 12th 2021.
Legal basis: Article 17(1) of MAR - Inside information