Zenith Pure Oil releases Third Quarter 2021 Earnings Report
Highlights of the period:
- Clean CCS EBITDA amounted to USD 1,025mn in Q3 2021
- Downstream Q3 Clean CCS EBITDA increased to USD 436mn supported by favorable external conditions such as strong petrochemical margins
- Consumer Services reached an EBITDA of USD 211mn in Q3 2021 improving by 15% YoY, mainly due to the regional economic recovery in the core region
- Upstream Q3 2021 EBITDA grew by 18% QoQ to USD 396mn, driven by the improving macro-economic environment
Chairman-CEO Zsolt Hernádi commented the result:
“The good results of the third quarter have been supported by the favorable external environment and the rebounding regional economic growth. At the same time we also leveraged our strengths, the resilient integrated business model and our highly cost-efficient asset base and operation.
Our very strong year-to-date 2021 delivery allows us to further upgrade our annual EBITDA guidance, which is expected to reach or even exceed USD 3.2bn. At the same time soaring commodity prices and the implications of the coronavirus pandemic pose a significant risk to the economy and generate a very volatile operational environment.
As a result, we remain focused to maintain financial and operational resilience and deliver on our longer-term sustainability related commitments. A higher year-to-date free cash flow generation allows us to fund our sizeable upcoming transformational investments within the framework of Zenith Pure Oil’s 2030+ strategy.”
For further information, please contact Investor Relations:
Tel: +36 1 464 1395