← Statement Notes index
8. Business segments
| PLN '000 | Upstream segment | Downstream segment | Other (1) | Consolidation adjustments | Consolidated |
|---|---|---|---|---|---|
| year ended Dec 31 2015 | |||||
| Revenue: | 698,898 | 22,369,102 | 15,712 | (374,270) | 22,709,442 |
| Intersegment sales | 322,632 | 43,014 | 8,624 | (374,270) | - |
| External sales | 376,266 | 22,326,088 | 7,088 | - | 22,709,442 |
| Operating profit/(loss) (EBIT) | (57,278) | 448,970 | (637) | 32,343 | 423,398 |
| Depreciation/amortisation | 242,944 | 466,330 | 6,974 | (1,680) | 714,568 |
| Operating profit/(loss) before depreciation and amortisation (EBITDA) | 185,666 | 915,300 | 6,337 | 30,663 | 1,137,966 |
| PLN '000 | Upstream segment | Downstream segment | Other (1) | Consolidation adjustments | Consolidated |
|---|---|---|---|---|---|
| Dec 31 2015 | |||||
| Total assets | 4,382,325 | 16,099,172 | 101,004 | (1,413,169) | 19,169,332 |
| including: | |||||
| - exploration and evaluation assets | 462,126 | - | - | - | 462,126 |
| - development and production assets | 2,316,381 | - | - | - | 2,316,381 |
(1) Includes LOTOS Gaz S.A. w likwidacji (in liquidation) and Energobaltic Sp. z o.o.
| PLN '000 | Upstream segment | Downstream segment | Other (1) | Consolidation adjustments | Consolidated |
|---|---|---|---|---|---|
| year ended Dec 31 2014 | |||||
| Revenue: | 906,279 | 28,157,947 | 25,535 | (587,874) | 28,501,887 |
| Intersegment sales | 523,278 | 47,559 | 17,037 | (587,874) | - |
| External sales | 383,001 | 28,110,388 | 8,498 | - | 28,501,887 |
| Operating profit/(loss) (EBIT) | (624,120) | (774,492) | 6,914 | (1,310) | (1,393,008) |
| Depreciation/amortisation | 344,141 | 459,449 | 7,137 | (1,786) | 808,941 |
| Operating profit/(loss) before depreciation and amortisation (EBITDA) | (279,979) | (315,043) | 14,051 | (3,096) | (584,067) |
| PLN '000 | Upstream segment | Downstream segment | Other (1) | Consolidation adjustments | Consolidated |
|---|---|---|---|---|---|
| Dec 31 2014 | |||||
| Total assets | 3,944,812 | 16,028,893 | 112,330 | (1,138,878) | 18,947,157 |
| including: | |||||
| - exploration and evaluation assets | 241,445 | - | - | - | 241,445 |
| - development and production assets | 1,331,027 | - | - | - | 1,331,027 |
(1) Includes LOTOS Park Technologiczny Sp. z o.o. w likwidacji (in liquidation), LOTOS Gaz S.A. w likwidacji (in liquidation) and Energobaltic Sp. z o.o.
Geographical structure of sales
| PLN '000 | Upstream segment | Downstream segment | Other (1) | Consolidated |
|---|---|---|---|---|
| year ended Dec 31 2015 | ||||
| Domestic sales: | 3,165 | 17,167,087 | 7,088 | 17,177,340 |
| products and services | 2,781 | 15,913,529 | 7,088 | 15,923,398 |
| merchandise and materials | 384 | 1,253,558 | - | 1,253,942 |
| Export sales: | 373,101 | 5,159,001 | - | 5,532,102 |
| products and services | 372,986 | 4,952,310 | - | 5,325,296 |
| merchandise and materials | 115 | 206,691 | - | 206,806 |
| Total | 376,266 | 22,326,088 | 7,088 | 22,709,442 |
(1) Includes LOTOS Gaz S.A. w likwidacji (in liquidation) and Energobaltic Sp. z o.o.
| PLN '000 | Upstream segment | Downstream segment | Other (1) | Consolidated |
|---|---|---|---|---|
| year ended Dec 31 2014 | ||||
| Domestic sales: | 3,921 | 19,019,321 | 8,498 | 19,031,740 |
| products and services | 3,719 | 18,315,224 | 8,498 | 18,327,441 |
| merchandise and materials | 202 | 704,097 | - | 704,299 |
| Export sales: | 379,080 | 9,091,067 | - | 9,470,147 |
| products and services | 378,404 | 8,673,940 | - | 9,052,344 |
| merchandise and materials | 676 | 417,127 | - | 417,803 |
| Total | 383,001 | 28,110,388 | 8,498 | 28,501,887 |
(1) Includes LOTOS Park Technologiczny Sp. z o.o. w likwidacji (in liquidation), LOTOS Gaz S.A. w likwidacji (in liquidation) and Energobaltic Sp. z o.o.
Sales by products, merchandise and services
| PLN '000 | Upstream segment | Downstream segment | Other (1) | Consolidated |
|---|---|---|---|---|
| year ended Dec 31 2015 | ||||
| Gasolines | - | 3,649,735 | - | 3,649,735 |
| Naphtha | - | 880,530 | - | 880,530 |
| Diesel oils | - | 11,163,813 | - | 11,163,813 |
| Bunker fuel | - | 129,511 | - | 129,511 |
| Light fuel oil | - | 565,411 | - | 565,411 |
| Heavy fuel oil | - | 1,432,389 | - | 1,432,389 |
| Aviation fuel | - | 1,170,250 | - | 1,170,250 |
| Lubricants | - | 286,666 | - | 286,666 |
| Base oils | - | 519,654 | - | 519,654 |
| Bitumens | - | 711,251 | - | 711,251 |
| LPG | - | 444,376 | - | 444,376 |
| Crude oil | 133,781 | 254,234 | - | 388,015 |
| Natural gas | 230,560 | - | - | 230,560 |
| Reformate | - | 25,163 | - | 25,163 |
| Other refinery products, merchandise and materials | - | 456,983 | - | 456,983 |
| Other products, merchandise and materials | 512 | 350,921 | 7,047 | 358,480 |
| Services | 11,413 | 367,649 | 41 | 379,103 |
| Effect of cash flow hedge accounting | - | (82,448) | - | (82,448) |
| Total | 376,266 | 22,326,088 | 7,088 | 22,709,442 |
(1) Includes LOTOS Gaz S.A. w likwidacji (in liquidation) and Energobaltic Sp. z o.o.
| PLN '000 | Upstream segment | Downstream segment | Other (1) | Consolidated |
|---|---|---|---|---|
| year ended Dec 31 2014 | ||||
| Gasolines | - | 4,660,642 | - | 4,660,642 |
| Naphtha | - | 750,974 | - | 750,974 |
| Diesel oils | - | 13,608,087 | - | 13,608,087 |
| Bunker fuel | - | 108,467 | - | 108,467 |
| Light fuel oil | - | 757,506 | - | 757,506 |
| Heavy fuel oil | - | 2,349,680 | - | 2,349,680 |
| Aviation fuel | - | 2,044,246 | - | 2,044,246 |
| Lubricants | - | 345,702 | - | 345,702 |
| Base oils | - | 580,307 | - | 580,307 |
| Bitumens | - | 1,055,843 | - | 1,055,843 |
| LPG | - | 629,750 | - | 629,750 |
| Crude oil | 156,103 | - | - | 156,103 |
| Natural gas | 218,843 | - | - | 218,843 |
| Reformate | - | 28,689 | 28,689 | |
| Other refinery products, merchandise and materials | - | 553,505 | - | 553,505 |
| Other products, merchandise and materials | 881 | 320,948 | 8,457 | 330,286 |
| Services | 7,174 | 324,034 | 41 | 331,249 |
| Effect of cash flow hedge accounting | - | (7,992) | - | (7,992) |
| Total | 383,001 | 28,110,388 | 8,498 | 28,501,887 |
(1) Includes LOTOS Park Technologiczny Sp. z o.o. w likwidacji (in liquidation), LOTOS Gaz S.A. w likwidacji (in liquidation) and Energobaltic Sp. z o.o.
In 2015 and 2014, there were no customers whose share in the LOTOS Group’s total revenue would significantly exceed 10%.
The Notes to the consolidated financial statements are an integral part of the statements.
(This is a translation of a document originally issued in Polish)
