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ORLEN Group 2016 Integrated Report

II nagroda specjalna w kategorii Raport Zintegrowany | Najlepszy raport on-line

Segments’ data

6.1. Operating segments
6.2. Revenues, costs, financial results, investment expenditures

6.1. OPERATING SEGMENTS

The operations of the Group is conducted in:

and Corporate Functions, which include activities related to management, administration and remaining activities not allocated to separate operating segments i.e. reconciling items.

SELECTED ACCOUNTING PRINCIPLES


Assessments of the segments’ financial results and decisions on allocation of resources are performed mainly on the basis of EBITDA. EBITDA is one of a measure of the efficiency of the activity, which is not defined in IFRS. The ORLEN Group defines EBITDA as net profit/(loss) for the reporting period before taking into account the impact of the income tax, effects of financing activities and depreciation costs.

Revenues from transactions with external customers and transactions with other segments are carried out on an arm’s length basis.


6.2. REVENUES, COSTS, FINANCIAL RESULTS, INVESTMENTS EXPENDITURES

2016

  NOTE Downstream Segment Retail Segment Upstream Segment Corporate Functions Adjustments Total
External revenues 7.1.1
7.1.2
49 202 29 841 442 68 - 79 553
Inter-segment revenues   10 892 280 - 283 (11 455) -
Sales revenues   60 094 30 121 442 351 (11 455) 79 553

Operating expenses

  (54 939) (28 681) (537) (1 072) 11 455 (73 774)
Other operating income 7.1.4 1 964 87 60 53 (1) 2 163
Other operating expenses 7.1.5 (324) (125) (83) (176) 1 (707)
Net operating income and expenses, incl.:   1 640 (38) (23) (123) - 1 456
recognition/reversal of impairment allowances of property, plant and equipment and intangible assets 7.2.4 218 (7) (73) 7 - 145
Share in profit from investments accounted for under equity method 9.3 298 - (1) - - 297
Profit/(Loss) from operations   7 093 1 402 (119) (844) - 7 532
Net finance income and costs 7.1.6.1
7.1.6.2
          (645)
Profit before tax             6 887
Tax expense             (1 147)
Net profit             5 740
Depreciation and amortisation 7.1.3 1 317 392 301 100 - 2 110
EBITDA   8 410 1 794 182 (744) - 9 642
CAPEX   3 533 479 525 136 - 4 673

2015 

  NOTE Downstream Segment Retail Segment Upstream Segment Corporate Functions Adjustments Total
External revenues

7.1.1
7.1.2

56 987 31 052 215 82 - 88 336
Inter-segment revenues   12 624 70 - 206 (12 900) -
Sales revenues   69 611 31 122 215 288 (12 900) 88 336
Operating expenses   (64 963) (29 934) (347) (971) 12 900 (83 315)
Other operating income 7.1.4 276 50 3 91 - 420
Other operating expenses 7.1.5 (316) (67) (852) (119) - (1 354)
Net operating income and expenses, incl.:   (40) (17) (849) (28) - (934)
recognition/reversal of impairment allowances of property, plant and equipment and intangible assets 7.2.4 (136) - (852) (5) - (993)
Share in profit from investments accounted for under equity method 9.3 253 - - - - 253
Profit/(Loss) from operations   4 861 1 171 (981) (711) - 4 340
Net finance income and costs 7.1.6.1
7.1.6.2
          (642)
Profit before tax             3 698
Tax expense             (465)
Net profit             3 233
Depreciation and amortisation 7.1.3 1 269 368 173 85 - 1 895
EBITDA   6 130 1 539 (808) (626) - 6 235
CAPEX   2 242 448 288 205 - 3 183

CAPEX - increase of property, plant and equipment, intangible assets, investment property and perpetual usufruct of land together with the capitalisation of borrowing costs