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Grupa LOTOS S.A. - Integrated Annual Report 2012
8. Business segments
| PLN '000 | Upstream segment | Downstream segment | Other (2) | Consolidation adjustments | Consolidated |
|---|---|---|---|---|---|
| for the year ended Dec 31 2012 | |||||
| Revenue: | 759,799 | 32,899,919 | 27,205 | (575,923) | 33,111,000 |
| Intersegment sales | 512,675 | 43,467 | 19,781 | (575,923) | - |
| External sales | 247,124 | 32,856,452 | 7,424 | - | 33,111,000 |
| Operating profit/(loss) (EBIT) | (680,235 ) (2) | 977,481 | 5,377 | (1,550) | 301,073 |
| Depreciation and amortisation expense | 137,980 | 520,066 | 10,339 | (1,795) | 666,590 |
| perating profit/(loss) before amortisation and depreciation (EBITDA) | (542,255) | 1,497,547 | 15,716 | (3,345) | 967,663 |
| PLN '000 | Upstream segment | Downstream segment | Other (2) | Consolidation adjustments | Consolidated |
| Dec 31 2012 | |||||
| Total assets | 3,366,025 | 17,334,548 | 148,607 | (792,801) | 20,056,379 |
| - including net exploration and appraisal assets | 150,033 | - | - | - | 150,033 |
| PLN '000 | Upstream segment | Downstream segment | Other (2) | Consolidation adjustments | Consolidated |
|---|---|---|---|---|---|
|
for the year ended Dec 31 2011 |
|||||
| (dane przekształcone) | |||||
| Revenue: | 582,259 | 29,062,269 | 23,350 | (408,292) | 29,259,586 |
| Intersegment sales | 350,476 | 40,461 | 17,355 | (408,292) | - |
| External sales | 231,783 | 29,021,808 | 5,995 | - | 29,259,586 |
| Operating profit/(loss) (EBIT) | 21,663 (2) | 1,061,327 | 3,119 | (636) | 1,085,473 |
| Depreciation and amortisation expense | 119,989 | 480,305 | 9,704 | (1,390) | 608,608 |
| Operating profit/(loss) before amortisation and depreciation (EBITDA) | 141,652 | 1,541,632 | 12,823 | (2,026) | 1,694,081 |
| PLN '000 | Upstream segment | Downstream segment | Other (2) | Consolidation adjustments | Consolidated |
| Dec 31 2011 | |||||
| Total assets | 3,078,573 | 17,901,203 | 147,187 | (703,743) | 20,423,220 |
| - including net exploration and appraisal assets | 89,581 | - | - | - | 89,581 |
(1) Including impairment losses on YME field assets, of PLN 935,247 thousand (December 31st 2011: PLN 239,775 thousand), described in more detail in Note 13 .
(2) Includes LOTOS Park Technologiczny Sp. z o.o., LOTOS Gaz S.A. w likwidacji (in liquidation) and Energobaltic Sp. z o.o.
Geographical structure of sales
| PLN '000 | Upstream segment | Downstream segment | Other (1) | Consolidated |
|---|---|---|---|---|
| for the year ended Dec 31 2012 | ||||
| Domestic sales | 304 | 24,142,354 | 7,424 | 24,150,082 |
| - products and services | 65 | 23,107,959 | 7,424 | 23,115,448 |
| - merchandise and materials | 239 | 1,034,395 | - | 1,034,634 |
| Export sales | 246,820 | 8,714,098 | - | 8,960,918 |
| - products and services | 207,679 | 8,368,721 | - | 8,576,400 |
| - merchandise and materials | 39,141 | 345,377 | - | 384,518 |
| Total | 247,124 | 32,856,452 | 7,424 | 33,111,000 |
| PLN '000 | Upstream segment | Downstream segment | Other (1) | Consolidated |
|---|---|---|---|---|
| for the year ended Dec 31 2011 | ||||
| Domestic sales | 240 | 22,684,726 | 5,995 | 22,690,961 |
| - products and services | 91 | 22,286,029 | 5,995 | 22,292,115 |
| - merchandise and materials | 149 | 398,697 | - | 398,846 |
| Export sales | 231,543 | 6,337,082 | - | 6,568,625 |
| - products and services | 193,334 | 5,772,411 | - | 5,965,745 |
| - merchandise and materials | 38,209 | 564,671 | - | 602,880 |
| Total | 231,783 | 29,021,808 | 5,995 | 29,259,586 |
Sales by product category
| PLN '000 | Upstream segment | Downstream segment | Other (1) | Consolidated |
|---|---|---|---|---|
| for the year ended Dec 31 2012 | ||||
| Gasolines | - | 5,221,788 | - | 5,221,788 |
| Raw gasoline | - | 1,097,071 | - | 1,097,071 |
| Reformate | - | 458,827 | - | 458,827 |
| Diesel oils | - | 16,374,326 | - | 16,374,326 |
| Bunker fuel | - | 111,347 | - | 111,347 |
| Light fuel oil | - | 1,145,857 | - | 1,145,857 |
| Heavy fuel oil | - | 2,226,874 | - | 2,226,874 |
| Aviation fuel | - | 1,855,654 | - | 1,855,654 |
| Lubricants | - | 367,701 | - | 367,701 |
| Base oils | - | 568,804 | - | 568,804 |
| Bitumens | - | 1,730,266 | - | 1,730,266 |
| LPG | - | 502,388 | - | 502,388 |
| Crude oil | 239,828 | - | - | 239,828 |
| Other refinery products. merchandise and materials | - | 765,660 | - | 765,660 |
| Other products. merchandise and materials | 599 | 172,838 | 7,386 | 180,823 |
| Services | 6,697 | 274,142 | 38 | 280,877 |
| Effect of accounting for cash flow hedge accounting | - | (17,091) | - | (17,091) |
| Total | 247,124 | 32,856,452 | 7,424 | 33,111,000 |
(1) Includes LOTOS Park Technologiczny Sp. z o.o., LOTOS Gaz S.A. w likwidacji (in liquidation) and Energobaltic Sp. z o.o.
| PLN '000 | Upstream segment | Downstream segment | Other (1) | Consolidated |
|---|---|---|---|---|
| for the year ended Dec 31 2011 | ||||
| Gasolines | - | 4,511,001 | - | 4,511,001 |
| Raw gasoline | - | 480,080 | - | 480,080 |
| Reformate | - | 477,264 | - | 477,264 |
| Diesel oils | - | 15,112,466 | - | 15,112,466 |
| Bunker fuel | - | 115,782 | - | 115,782 |
| Light fuel oil | - | 1,223,309 | - | 1,223,309 |
| Heavy fuel oil | - | 1,600,701 | - | 1,600,701 |
| Aviation fuel | - | 1,397,304 | - | 1,397,304 |
| Lubricants | 701 | 318,930 | - | 319,631 |
| Base oils | - | 551,806 | - | 551,806 |
| Bitumens | - | 1,912,436 | - | 1,912,436 |
| LPG | - | 274,185 | - | 274,185 |
| Crude oil | 224,248 | - | - | 224,248 |
| Other refinery products. merchandise and materials | 12 | 598,200 | - | 598,212 |
| Other products. merchandise and materials | 150 | 206,644 | 5,960 | 212,754 |
| Services | 6,672 | 241,790 | 35 | 248,497 |
| Effect of accounting for cash flow hedge accounting | - | (90) | - | (90) |
| Total | 231,783 | 29,021,808 | 5,995 | 29,259,586 |
(1) Includes LOTOS Park Technologiczny Sp. z o.o., LOTOS Gaz S.A. w likwidacji (in liquidation) and Energobaltic Sp. z o.o.
In 2012, no customer of the LOTOS Group had a share of the Group’s total revenue in excess of 10%. In 2011, the share of one customer, Shell POLSKA Sp. z o.o., exceeded 10% of the Group’s total revenue, and amounted to 10.25%.
