The production of plastics and chemicals has improved results of Slovnaft Group in Q3

“The third quarter, in line with the previous two quarters of 2015, was very favorable from the perspective of total efficiency. The increase in profitability was driven by remarkably good conditions in international markets with oil products, as well as the result of production reliability, more successful sales and cost control. We are pleased that very favorable period of sales of basic plastics and chemicals continued, as we believe we can further raise it during 2016, when we start the commercial production and sales of newer types of polyethylene from the new LDPE 4 production line,” said Oszkár Világi, Chairman of the Board and Chief Executive Officer of SLOVNAFT, a.s. “With the coming of winter months we expect a deterioration of conditions in the refinery business. As a result, resources acquired in the previous period could serve as a sufficient reserve for keeping the financial stability and the continuation of the investment plans,“ added Oszkár Világi.

SLOVNAFT Group's net revenues during the first three quarters of 2015 reached EUR 2.79 billion, which was due to lower prices of refined products on international markets about eight percent less than in the same period of 2014. For nine months of this year, Slovnaft invested EUR 72 million, most of which were used for works related to the construction of a new polyethylene production line LDPE4 and for projects aimed at increasing the efficiency and quality of production.

By the end of September Slovnaft processed 4.51 million tons of crude oil in the Bratislava refinery, which is 18 percent more than during the same period last year. Gasoline production, for the first nine months of this year, increased year-on-year by 26 percent to 1.12 million tons and diesel production increased by 21 percent to 2.39 million tons. Polymers production recorded an annual increase of 22 percent to 298,000 tons.

The sales volume of oil products in the three quarters of this year has risen by 11 percent to 4.4 million tons. Almost three quarters of this volume were exported. Sales on foreign markets for the first nine months of the year grew by 12 percent, on the domestic market by 8 percent.

In the summer months, MOL Group, the parent company of SLOVNAFT, a.s., took over the Agip service stations in Slovakia. Slovnaft operated a total of 253 service stations by the end of September, resulting in the increase of fuel sales by 22 percent in the retail sector. In the third quarter Slovnaft also introduced the new concept for food and selling food in the service station network, called Fresh Corner. The new offer is currently available to customers at three service stations. Within the region SLOVNAFT Group supervises the operation of approximately 600 service stations in the Czech Republic and Austria in addition to Slovakia.

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