Q3 2021 Polski Koncern Naftowy Orlen SA Earnings Call Transcript
Ladies and gentlemen, welcome to the conference call of PKN ORLEN. At our customer's request, this conference will be recorded. (Operator Instructions) I will now hand over to Konrad Wlodarczyk, who will lead you through this conference. Please go ahead.
Thank you, operator. Good morning, ladies and gentlemen. Welcome to the conference call regarding ORLEN Group consolidated financials for the third quarter 2021.
The presentation will be delivered by me; Michal Perlik, Executive Director for Finance Management; and Marek Golebiewski, IR expert. After the presentation, we will open the Q&A session, during which several Directors from PKN ORLEN will be ready to take your questions.
With no further delay, let's move to Slide #3, so executing summary of the first quarter. PLN 4.3 billion EBITDA LIFO, another record-high quarter. We may say that we had a favorable macro environment and higher sales volumes that supported the results. Downstream margin increased by
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