Selected financial data

	PLN million		EUR million
	2020	2019	2020	2019
Revenue	20,908.6	29,493.3	4,673.1	6,856.0
Operating profit/(loss)	(1,396.8)	1,969.7	(312.2)	457.9
Profit/(loss) before tax	(1,652.8)	1,692.2	(369.4)	393.4
Net profit/(loss)	(1,146.2)	1,152.9	(256.2)	268
Net profit/(loss) attributable to: Owners of the Parent	(1,146.2)	1,152.9	(256.2)	268
Net profit / (loss) attributable to non-controlling interests	–	–	–	–
Total comprehensive income/(loss)	(956.7)	1,235.2	-213.8	287.1
Total comprehensive income/(loss) attributable to: Owners of the Parent	(956.7)	1,235.2	-213.8	287.1
Całkowite dochody/(sraty) ogółem przypisane udziałom niekontrolującym	–	–	–	–
Net cash from operating activities	2,869.9	2,130.2	641.4	495.2
Net cash from investing activities	(1,388.5)	(407.9)	(310.3)	(94.8)
Net cash from financing activities	(1,089.8)	(2,141.2)	(243.6)	(497.7)
Total net cash flow	391.6	(418.9)	87.5	(97.3)
Net profit/(loss) attributable to owners of the Parent per share (PLN) – basic	(6.2)	6.24	(1.39)	1.45
Net profit/(loss) attributable to owners of the Parent per share (PLN) – diluted	(6.2)	6.24	(1.39)	1.45

	PLN million		EUR million
	31.12.2020	31.12.2019	31.12.2020	31.12.2019
Total assets	21,856.4	23,672.1	4,736.2	5,558.8
Equity attributable to owners of the Parent	11,573.7	12,715.3	2,508.0	2,985.9
Non-controlling interests	0.1	0,1	0	0
Total equity	11,573.8	12,715.4	2,508.0	2,985.9

The following exchange rates have been used to convert the items listed in the „Financial Selected Data” table into EUR:

Items of the statement of financial position were converted using the average NBP exchange rate in force on the end of the reporting period:

31.12.2020	31.12.2019
1 EUR=4.6148 PLN	1 EUR=4.2585 PLN

Items in the statement of comprehensive income and statement of cash flows were converted using the exchange rate being the arithmetic mean of the average NBP exchange rates determined on the last day of each calendar month of the reporting period:

2020	2019
1 EUR=4.4742 PLN	1 EUR=4.3018 PLN

Throughout 2020 we were managing financial extremes affecting our Group. Record-high refining margins preceded a difficult time of exceptionally low margins. Crude oil and natural gas market prices tested unprecedented levels. Under such circumstances, the support of the finance department at any organisation focuses on securing liquidity and identifying measures to help navigate the organisation through the crisis. The internal LOTOS Anti-Crisis Shield project put in motion across the LOTOS Group brought quantifiable liquidity benefits exceeding one billion złoty. These shared and often difficult efforts helped us avoid employment restructuring, and, aware of the risk of payment backlogs materialising in periods of market volatility, we were a safe financial pillar for our suppliers.

The LOTOS Group emerged from the crisis with a significantly lower debt level, which makes us optimistic about future rapid growth prospects.

Łukasz Minuth

Executive Director Finance

Implementation of the strategy in 2020

Consolidated statement of comprehensive income

Selected financial data

Search results