UNIPETROL Management 2008 GuidanceWith regards to information and speculations that appeared in media we would like to state following official information:
Unipetrol indicated in the presentation to FY 2007 financial results (available on www.unipetrol.cz) following official guidance for the 2008:
Crude throughput: 4 593kt
Wholesale motor fuels: 3 053kt
Petrochemical sales: 2 613kt
Utilization ratio: 83%
Motor fuel yield: 57 %
Regarding Unipetrol 1Q 2008 Unipetrol stated that: "We expect a transition period in terms of the recovering of the margins. Until installation of the repaired cold box into the ethylene unit, benzene production will be limited to 80% of its 200kt capacity. We are investigating technical solutions that will enable to re-install the repaired cold box back with minimized impact on production."
Financial guidance for 2008 in terms of the financial results is very difficult to asses due to volatile and hard-to-predict market environment. Operational profit in amount of CZK 4 800m for 2008 that has been mentioned on Friday (Feb 29, 2008) during press conference by vice-chairman of the board and CFO, Wojciech Ostrowski, is based on both very conservative assumptions in terms of external environment (deterioration of market margins by approx. 10% y/y across all segments on average) and very cautious operational assumptions (e.g. inclusion of negative impact of two weeks S/D of ethylene, PE and PP units in March, even though we are still investigating possibilities of less costly solutions of re-installment of the cold box into the ethylene unit).
In Prague on March 3, 2008
UNIPETROL, a.s.
Reg.Announc. No. 003/2008
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