Integrated
Annual Report 2011

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Grupa LOTOS S.A. - Integrated Annual Report 2011
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Key data 2011

In 2011, sales revenues stood at PLN 29,259.5m, which was a nearly 49% increase on 2010.

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Grupa LOTOS – Selected Data
  Unit(**) For year ending
Dec 31st 2011
For year ending
Dec 31st 2010
Change Unit(**) For year ending  Dec 31st 2011 For year ending
Dec 31st 2010
Change
Financial
Data (*) 

 
    (restated)       (restated)  
Sales revenues k PLN 27,289,314
 
18,124,675  51% k EUR 6,591,463
 
4,526,190 46%
Operating profit k PLN 603,398
 
606,305 0%
 
k EUR 145,745 151,410 -4%
Profit before tax k PLN 324,345
 
520,433  -38%
 
k EUR 78,342 129,965 -40%
Profit on continued activity k PLN 307,670
 
464,954  -34%
 
k EUR 74,315 116,111 -36%
Total comprehensive income k PLN  (111,611) 464,954   -124% k EUR (26,959) 116,111 -123%
Net cash flows from operating activities k PLN 138,906
 
282,395 -51% k EUR 33,551 70,521  -52%
Net cash flows from investment activities k PLN (29,986)
 
(407,232) )) - k EUR (7,243) (101,696)  -
Net cash flows from financial activities k PLN  (113,629) 401,470  -128%
 
k EUR (27,446)
 
100,257  -127%
Total net cash flows k PLN  21,079 273,685 -92% k EUR 5,091
 
68,346  -93%
Basic profit per one common share PLN 2.37
 
3.58  -34%
 
EUR 0.57
 
0.89  -36%
Social investments k PLN 706
 
1,240  -43%
 
k EUR 171
 
310  -45%
Environmental investments k PLN 12,116
 
16,812  -28% k EUR 2,926
 
4,198  -30%
    As at
Dec 31st 2011
As at
Dec 31st 2010
    As at
Dec 31st 2011
As at
Dec 31st 2010
 
      (restated)       (restated)  
Total assets k PLN  16,449,524 14,678,065   12% k EUR 3,724,308
 
3,706,301  0%
Equities k PLN 5,833,442
 
5,945,053  -2%
 
k EUR 1,320,739
 
1,501,162  -12%

  

  Unit For year ending
Dec 31st 2011
For year ending
Dec 31st 2010
Change
Non-financial Data     (comparative data)  
Employees No. of employees 1,329 1,310 1%
Employment rotation % 12,4 10.6 1.8 p.p.
Lost Time Injury Frequency, LTIF (per 1m hours worked) (***)   2,4 3.4 -29.5%
Total water consumption m3 3,809,856 3,961,494 -3.8%
CO2 emissions k tonnes/year 2,045 1,607 27%

  

LOTOS Group – Selected Consolidated Data
  Unit(**) For year ending
Dec 31st 2011
For year ending
Dec 31st 2010
Change Unit(**) For year ending
Dec 31st 2011
For year ending
Dec 31st 2010
Change
Financial Data (*)     (restated)       (restated)  
Sales revenues k PLN 29,259,586 19,662,804 49% k EUR 7,067,362 4,910,300 44%
Operating profit k PLN 1,084,794 1,061,354 2% k EUR 262,021 265,047 -1%
Profit before tax k PLN 551,379 721,939 -24% k EUR 133,180 180,286 -26%
Profit on continued activity k PLN 649,322 681,353 -5% k EUR 156,837 170,151 -8%
Profit on continued activity ascribed to parent entity shareholders k PLN 648,994 679,180 -4% k EUR 156,758 169,608 -8%
Profit on continued activity ascribed to non-controlling interest k PLN 328 2,173 -85% k EUR 79 543 -85%
Total comprehensive income k PLN 277,628 678,609 -59% k EUR 67,058 169,466 -60%
Comprehensive income attributable to owners of the Parent k PLN 277,271 676,450 -59% k EUR 66,972 168,927 -60%
Comprehensive income attributable to non-controlling interests k PLN 357 2,159 -83% k EUR 86 539 -84%
Operating activity cash flows net k PLN 902,359 882,693 2% k EUR 217,956 220,431 -1%
Investment activity cash flows net k PLN (846,943) (1,055,590) - k EUR (204,571) (263,608) -
Financial activity cash flows net k PLN (35,582) 458,688 -108% k EUR (8,594) 114,546 -108%
Total cash flows net k PLN 43,319 283,821 -85% k EUR 10,463 70,877 -85%
Basic profit per one common share PLN 5.00 5.23 -4% EUR 1.21 1.31 -8%
Social investments k PLN 837 1,485 -44% k EUR 202 371 -46%
Environmental investments k PLN 34,709 33,648 3% k EUR 8,384 8,403 0%
    As at
Dec 31st 2011
As at
Dec 31st 2010
    As at
Dec 31st 2011
As at
Dec 31st 2010
 
      (restated)       (restated)  
Total assets k PLN 20,423,220 17,727,364 15% k EUR 4,623,986 4,476,268 3%
Equity ascribed to the parent entity's shareholders k PLN 7,781,436 7,498,819 4% k EUR 1,761,781 1,893,498 -7%
Non-controlling interest k PLN 947 14,658 -94% k EUR 214 3,701 -94%
Total equity k PLN 7,782,383 7,513,477 4% k EUR 1,761,996 1,897,199 -7%

  

Non-financial Data Unit For year ending
Dec 31st 2011
For year ending
Dec 31st 2010
Change
      (comparative data)  
Employees No. of employees 5,168 5,010 3%
Lost Time Injury Frequency, LTIF (per 1m hours worked) (***)   3.3 4.9 -44%
Fuel market share % 33.5 31.7 1.8 p.p.
Oil exploitation k tonnes 227.1 186.5 22%
Gas exploitation mn Nm3 16.1 20.7 -22%

  

(*) For a detailed presentation of financial results, see Consolidated Financial Statements Link→.

(**) In order to convert an item of the Statement of financial position in the table “Selected data” and “Consolidated selected data” as at December 31st 2011, the NBP (National Bank of Poland) mid-rate of EUR was applied, binding on that day, i.e. 1 EUR = 4,4168 PLN. The items of the Statement of comprehensive income and the Statement of cash flows presented in the table “Selected financial data” for the year ending December 31st 2011 were converted at the rate of 1 EUR = 4,1401 PLN (i.e. the rate being the arithmetic average of the mid-rates published by NBP on the last day of each finished month in the period from January 1st to December 31st 2011).

In order to convert an item of the Statement of finacial position in the table “Selected data” and “Consolidated selected data” as at December 31st 2010, the NBP mid-rate of EUR was applied, binding on that day, i.e. 1 EUR = 3,9603 PLN. The items of the Statement of comprehensive income and the Statement of cash flows presented in the table “Selected financial data” for the year ending December 31st 2010 were converted at the rate of 1 EUR = 4,0044 PLN (i.e. the rate being the arithmetic average of the mid-rates published by NBP on the last day of each finished month in the period from January 1st to December 31st 2010).

(***) LTIF – number of occurrences resulting in inability to work x106/number of working hours, as calculated for the average number of employees during the year.