OREANDA-NEWS.  May 06, 2013. ORLEN Lietuva recorded significant improvement in the financial results in Q1 of 2013 in comparison with Q1 2012. Company’s EBIT in LIFO increased by USD 33 million Y/Y, from negative result of USD 13 million in 2012 to positive contribution of USD 21 million in 2013. Net cash flow generated from operating activities was above the last year level by USD 150 million due to reduction in working capital.

“Maintaining the maximum capacity utilization and faultless operational availability rates throughout the first quarter of 2013, ORLEN Lietuva uplifted its operational performance to the new record high levels by taking the full advantage of recovering European refining margins,” said Ireneusz Fafara, General Director of ORLEN Lietuva.

In Q1 2013 ORLEN Lietuva processed 2.6 million tons of feedstock and improved the capacity utilization of refinery by 20 p.p. versus the same period of 2012. The continuous focus on the Baltic market share development resulted in the increase of sales volume in Inland markets by 4%. The total sales volume, including sales to seaborne markets, was higher by 24% Y/Y.

During the Q1 2013 ORLEN Lietuva refinery managed to reduce the consumption of fuel and losses by 0.6 p.p. comparing to the same period of 2012. The company established the new record low baseline for the ongoing energy consumption improvement program which is listed among the key strategic objectives of the company. The business processes realignment and maintenance activities streamlining projects completed in the past years were the major drivers for the operational and maintenance costs reduction by 9% versus 2012.