Polish-owned Lithuanian oil company Orlen Lietuva reported a net profit of €44.8m in the first quarter of 2016, up 9 percent from the previous year. Sales revenue, however, decreased 24 percent y-o-y to €582.7m. The company’s EBITDA for the first three months of the year dropped to €51.9m from €72.9m the previous year. capital expenditures totaled €4.6m for the period. Orlen Lietuva 2015 net profit amounted to €208.3m, up from a €104.6m loss the year before. Full-year revenue fell 33 percent to €3.64bn.
