Executive Summary of2020
CEO, President of the Management Board
Member of the Management Board, Development
Member of the Management Board, Operations
Member of the Management Board, Retail Sales
Member of the Management Board, Wholesale and International Trade
Armen Konrad Artwich
Member of the Management Board, Corporate Affairs
Member of the Management Board, Finance
Member of the Management Board, Communication and Marketing
Daniel ObajtekCEO, President of the Management Board
Zbigniew LeszczyńskiMember of the Management Board, Development
Józef WęgreckiMember of the Management Board, Operations
Patrycja KlareckaMember of the Management Board, Retail Sales
Michał RógMember of the Management Board, Wholesale and International Trade
Armen Konrad ArtwichMember of the Management Board, Corporate Affairs
Jan SzewczakMember of the Management Board, Finance
Adam BurakMember of the Management Board, Communication and Marketing
We delivered very solid 2020 results despite the macroeconomic headwinds created by the pandemic. Business diversification is a key to success.
The ORLEN Group keeps a close eye on trends and adequately responds to them. This approach directly translates into its financial performance.
The record results in Retail and Power Generation and strong Petrochemicals performance demonstrate that with its decisions from three years ago to go ahead with investments and acquisitions in those segments the ORLEN Group set the right strategic growth directions. In 2020, the Group actively managed its financing sources, maintaining financial ratios at a safe level. In the fourth quarter, PKN ORLEN issued PLN 1 billion worth of sustainability bonds, Many important growth projects were also completed, with capex budget of PLN 9 billion.
In 2020, efforts were continued to build a multi-utility group.
Progress was made on capex projects in the petrochemical segment, the project to expand ANWIL’s fertilizer capacities, and the process to transform ORLEN Południe into a state-of-the-art biorefinery. A visbreaker project was launched in Płock. PKN ORLEN closed the acquisition of shares in Energa, completed the acquisition of RUCH, secured conditional clearance from the European Commission for the acquisition of Grupa LOTOS and commenced the process to acquire PGNiG. The Group worked to enhance its renewable energy capabilities, acquiring the Energa Group and making advanced preparations for the construction of an offshore wind farm.
For the ORLEN Group, ESG is an important part of strategic management.
ESG considerations are integrated into the business strategy to enhance the Group's financial performance and build long-term value for all stakeholders. In 2020, we undertook to achieve a net zero carbon footprint by 2050 based on four pillars: energy efficiency in production, zero-emission power generation, fuels of the future, and green finance.