April 19, 2019 / 11:27 AM / 5 months ago

EARNINGS POLL-Polish refiner PKN's Q1 net profit seen down 25 pct

    * PKN Q1 results due April 25 before market opens
    * Net profit seen down at $205 mln 

    WARSAW, April 19 (Reuters) - Polish oil refiner PKN Orlen
         is expected to report a 25-percent drop in
first-quarter net profit amid a weaker performance in its
petrochemicals business, a Reuters poll showed on Friday. 
    The state-controlled refiner's first-quarter net profit is
forecast at 780 million zlotys ($205 million), according to the
average estimate of nine banks and brokerages. 
    Earnings before interest, tax, depreciation and
amortisation, excluding the impact of impairment and costs of
oil inventories (EBITDA LIFO), are forecast at 1.89 billion
zlotys, flat year on year. 
    PKN said earlier this month its petrochemical margin fell to
885 euros per tonne in the first quarter from 902 euros a year
earlier. 
    
    The following table summarises forecasts for PKN
Orlen (figures in millions of zlotys unless stated otherwise):
    
FIRST QUARTER OF 2019
              Net profit   EBITDA LIFO    EBITDA      Sales
 Average          780       1,888         1,720      25,460
 Median           836       1,936         1,774      25,068
 Lowest           456       1,604         1,393      23,976
 Highest          938       2,053         1,900      27,441
 No. of             9           8             8           7
 forecasts
 Q1 2018        1,042       1,893         2,037      23,241
 Q4 2018          804       2,042         1,243      29,420
    
Forecasts provided by: Trigon DM, DM BDM, DM mBank, DM BOS,
Vestor DM, Haitong Bank, UBS, Santander BM, Erste.  
($1 = 3.8052 zlotys)

 (Reporting by Agnieszka Barteczko; Editing by Mark Potter)
  
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