Integrated Annual Report 2020

Integrated Annual
Report 2020

  • Pomimo pandemii, która skutkowała najtrudniejszymi od wielu lat warunkami prowadzenia działalności, zamkknęliśmy rok z mocnymi (+35%) przepływami pieniężnymi z działalności operacyjnej, niższymi (-22%) kosztami operacyjnymi i większą (+7) siecią stacji paliw.
  • W 2020 roku wydatki inwestycyjne wyniosły ok. 0,8 mld zł. W ubiegłym roku uruchomilismy instalację Węzła Odzysku Wodoru, sfinalizowaliśmy prace nad projektem budowy czwartego nalewaka kolejowego oraz systemu ciągłego monitoringu zanieczyszczeń (CEMS).

Summary of the year

  • Ladies and Gentlemen, Dear Shareholders!
    Unexpectedly, 2020 turned out to be a year of enormous challenge for all of us. The coronavirus pandemic, restrictions on social contact and business activity and the resulting global economic downturn combined with turbulence on the oil market had an impact on the fuel sector, including the LOTOS Group’s business.

    Zofia Paryła President of the Management Board Grupa LOTOS S.A.
  • In 2020, the European Commission announced its conditional decision to approve the merger of Grupa LOTOS and PKN ORLEN. This is an important step in the process of building a strong multi-utility company that should lead the energy transition.

    Krzysztof Nowicki Vice President of the Management Board, Mergers and Acquisitions
  • Although it was full of challenges, 2020 confirmed the high flexibility and efficiency of our refinery and the professionalism and commitment of our staff in the downstream division. We were able to quickly adjust to the fast-changing environment, ensuring the availability of our products on the domestic market.

    Piotr Walczak Vice President of the Management Board, Chief Refining and Marketing Officer
  • Pod względem inwestycyjnym, za istotne w 2020 r. uznać należy zakończenie Projektu EFRA oraz przekazanie do eksploatacji centrum produkcyjnego na złożu B8. Warto też wymienić inwestycje proekologiczne: budowę nowej instalacji odzyskiwania oparów, uruchomienie Węzła Odzysku Wodoru, a także sfinalizowanie projektu CEMS.

    Jarosław Wróbel Vice President of the Management Board, Chief Investment and Innovation Officer
  • In terms of capital investment, key milestones in 2020 were the completion of the EFRA Project and commissioning of the production centre on the B8 field. Worthy of note are also our pro-environmental projects: construction of a new vapour recovery unit, start-up of a hydrogen recovery unit and completion of the CEMS project.

    Jarosław Wittstock Vice President of the Management Board, Corporate Affairs

Key results

PLN 1.36 billion

LOTOS Group’s adjusted LIFO-based EBITDA 

PLN 2.87 billion

Cash flows from operating activities

1.42 x

Net debt/LIFO-based EBITDA ratio 

74.8 million boe

Total 2P (proved and probable) reserves 


Utilisation rate of its nominal refining capacity 


Share in Poland’s total domestic fuel market


Stable position in a difficult 2020

Grupa LOTOS was flexible enough to provide secure access to its products and services.


Our response to the changing business environment is a project involving the construction of a large-scale hydrogen production system.


We know what the combined multi-energy group will ultimately look like and what the role of our company will be.

Search results