INVESTOR RELATIONS

Macro data

Select year

Macroeconomic data – average: 2025 unit Jan Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec FY
Brent crude oil price USD/bbl 79.2                 .      
Model refining margin (1) USD/bbl 7.4                        
Differential (2) USD/bbl 0.8                        
Model petrochemical margin (3) EUR/t -                        
Natural gas price TTF month-ahead PLN/MWh 205                        
Natural gas price TGEgasDA PLN/MWh 225                        
Electricity price TGeBase PLN/MWh 501                        
USD / PLN (4) PLN 4.10                        
EUR / PLN (4) PLN 4.25                        
Macroeconomic data – average: 2025 unit 1Q 2Q 3Q 4Q FY
Brent crude oil price USD/bbl 79.2        
Model refining margin (1)

USD/bbl

7.4        
Differential (2)

USD/bbl

0.8        
Model petrochemical margin (3) EUR/t -        
Natural gas price TTF month-ahead PLN/MWh 205        
Natural gas price TGEgasDA PLN/MWh 225        
Electricity price TGeBase PLN/MWh 501        
USD / PLN (4) PLN 4.10        
EUR / PLN (4) PLN 4.25        

(1) Model refining margin = revenues (33% Gasoline + 48% Diesel + 13% HHO) – costs (98% Brent crude oil + 2% Natural gas). Spot quotations.

(2) Differential calculated on the real share of processed crude oils. Spot quotations. 

(3) Model petrochemical margin = temporarily put on hold due to formula update.

(4) Average foreign exchange rates according to the National Bank of Poland.