Integrated
Report
2022
Chapters
Our Report
Activities of the ORLEN Group
Our environment
Governance principles
Strategy
Environment and climate
Social responsibility
Risks and opportunities
Outlook 2023+
Financial results
Interactive ESG data
Environment
Climate
Social responsibility
Human capital
Safety
Governance
PL
PL
Site map
Home page
Site map
Our Report
Concept and key functionalities
Material reporting aspects
GRI table
Other indicators
Tabela TCFD
Auditor’s opinion
Activities of the ORLEN Group
Letter from the President of the Management Board
About the ORLEN Group
Shares and shareholding structure
Business model
Our capitals
Financial capital
Social capital
Human capital
Intellectual capital
Natural capital
Manufactured capital
Value creation
Operating segments in 2022
Upstream
Refining
Petrochemicals
Gas
Retail
Energy
Technology research and development
Our products and markets
Our environment
Our stakeholders
Macroeconomic environment
Business environment
Competitive environment
Regulatory environment
Organisations and associations
Governance principles
Letter from the Chairman of the Supervisory Board
ORLEN Group structure
Remuneration of the management and supervisory
Corporate governance
Corporate governance rules
Communication with the capital market
Control, IMS Internal Audit, Risk Management And Compliance System
Amendments to articles of association
General meeting
Management and supervisory bodies
Remuneration policy
Diversity policy
Regulations governing conflicts of interest and related-party transactions
Integrated Management System
Key policies and internal acts
Strategy
Strategic objectives until 2030
Development Prospects
Strategic growth directions for the ORLEN Group's business segments
Summary of strategy implementation in 2022
Sustainable Development
Delivery of investment plans
EU Taxonomy
Environment and climate
Environment and climate
Air emissions
Waste
Water and effluents
Protection of biodiversity
Energy management
Closure and rehabilitation
Social responsibility
Our commitments
How we implement the Sustainable Development Goals 2030
Employee matters and respect for human rights
Occupational health and safety
Process safety
Counteracting corruption and bribery
Social area
Society
Support for sports and culture, community sponsorships
R&D investments
Service quality and customer satisfaction
Responsible supply chain
Risks and opportunities
Risk management
Opportunities for energy transformation
Outlook 2023+
Financial results
Commentary on financial results
Basic information
Consolidated statement of profit or loss and other comprehensive income
Financial situation of the group
Impact of the military conflict in Ukraine on group’s operating and financing activities
Wyniki finansowe i operacyjne
Financial and operating results
Segment's data
10. Operating segments
11. Revenues, costs, financial results, increases in non-current assets
Assets by operating segments and by geographical area
Explanatory notes
13. Explanatory notes to the statement of profit or loss and other comprehensive income
13.1. Sales revenues
13.2. Sales revenues by operating segments in division on assortments
13.3. Sales revenues geographical division - disclosed by customer’s premises countries
13.4. Revenue from contracts with customers by type of contract
13.5. Revenue from contracts with customers by date of transfer
13.6. Revenue from contracts with customers by duration of contract
13.7. Revenue from contracts with customers by sales channel
13.8. Compensation for electricity and gas prices
13.9. Costs
13.9.1. Cost of sales
13.9.2. Cost by nature
13.10. Other operating income
13.11. Other operating expenses
13.12. Finance income and costs
13.12.1. Finance income
13.12.2. Finance costs
13.13. (Loss)/reversal of loss
13.14. Tax expense
13.14.1. Reconciliation of effective tax rate
13.14.2. Deferred tax
14. Explanatory notes
14.1. Property, plant and equipment
14.2. Intangible assets and goodwill
14.2.1. Goodwill
14.2.2. Rights
14.3. Investments in jointly controlled entities and associates
14.4. Impairment of property, plant and equipment, intangible assets, goodwill and right-of-use assets
14.4.1. Discount rate
14.4.2. Key assumptions
14.4.3. Recognition and reversal of impairment losses
14.5 Net working capital
14.5.2. Trade and other receivables
14.5.3. Trade and other liabilities
14.5.1. Inventories
14.5.4. Change in liabilities from contracts with customers
14.6. Cash
14.7. Loans, borrowings and bonds
14.7.1. Loans
14.7.2. Borrowings
14.7.3. Bonds
14.8. Net debt and equity management
14.8.1. Changes in liabilities from financing activities and net debt
14.8.2. Equity management policy
14.9 Equity
14.9.1 Share capital
14.9.2. Share premium
14.9.3. Own shares
14.9.4. Retained earnings
14.9.5. Equity attributable to non-controlling interest
14.9.6. Proposal for distribution of the Parent Company’s profit for 2022 and the dividend payment in 2023
14.9.7. Distribution of the Parent Company’s profit for 2021
14.9.8. Profit per share
14.10 Derivatives and other assets and liabilities
14.10.1 Derivatives and other assets
14.10.2 Derivatives and other liabilities
14.11 Provisions
14.11.1 Environmental and decommissioning cost provision
14.11.2 Provision for jubilee bonuses and post-employment benefits
14.11.3 Provision for CO₂ emissions, energy certificates
14.11.4 Other provisions
15. Explanatory notes to the statement of cash flows
15.1. Foreign exchange gain/(loss)
15.2. Interest, net
15.3. (Profit)/Loss on investing activities
15.4. Change in provisions
15.5. Other adjustments
15.6. Income tax (paid)
15.7. Proceeds from the sale
15.8. Dividends
16. Explanatory notes
16.1. Financial instruments by category and class
16.2. Income, expenses, profit or loss and other comprehensive income
16.3. Fair value measurement
16.3.1. Methods applied in determining fair value (fair value hierarchy)
16.4. Hedge accounting
16.5. Risk identification
16.5.1. Commodity risk
16.5.2. The risk of exchange rates changes
16.5.3. The risk of interest rates changes
16.5.4. Liquidity and credit risk
17. Other Explanatory Notes
17.1. Concessions held
17.2 Leases
17.2.1. Group as a lessee
17.2.2 Group as a lessor
17.3. Investment expenditures incurred and future commitments resulting from signed investment contracts
17.4. Contingent assets and liabilities
17.4.1. Contingent assets
17.4.2. Contingent liabilities
17.5. Excise tax guarantees
17.6. Related party transactions
17.6.1. Remuneration paid and due or potentially
17.6.2. ORLEN Group companies’ transactions and balances of settlements with related parties
17.6.3 Transakcje z jednostkami powiązanymi ze Skarbem Państwa
17.7 Wynagrodzenie wynikające z umowy z podmiotem uprawnionym do badania sprawozdań finansowych
18. Events after the end of the reporting period
18.1 Acquisition of petrochemical assets
18.2 Transaction of acquisition of REMAQ s.r.o
18.3 Aid for energy-intensive sectors
18.4 Significant bank financing
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