Achievements and forecasts
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Business environment
In 2010, the world’s largest economies pulled out of the recession, while emerging markets saw their growth rates accelerate. The Polish economy also performed well. Activities of Grupa LOTOS were defined by two of the Company’s key projects – the completion of the 10+ Programme and formulation of a new strategy for the coming years.
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Financial and economic standing
The performance we delivered in 2010, as well as our sound financial position, provide solid foundations for the Company's ambitious strategy for 2011-2015. The fact that debt ratios stayed within assumed ranges and liquidity ratios remained safe also confirms the soundness of our financing strategy, which has allowed us to implement key investment programmes without disruptions.
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Stock market
In 2010, the LOTOS stock was included in the RESPECT index on the Warsaw Stock Exchange, the first index of socially responsible companies in Central and Eastern Europe. Following a review conducted at the beginning of 2011, the LOTOS stock was included in the index again in 2011.
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Exploration and production (upstream business)
The LOTOS Group’s strategic objective for its upstream business is to increase the production of hydrocarbons, in line with the priorities of Poland’s energy security policy until 2030. The objective will be accomplished by obtaining direct access to hydrocarbon reserves and increasing the production volumes.
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Operating segment
The LOTOS Group’s operating segment is focused on carrying out refining operations and supplying the market with high quality products, while making optimum use of its production capacities and mitigating the environment impact.
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Market activities
In line with its new strategy, the LOTOS Group’s efforts in the marketing area will focus on further development of the sales force, based on the expanded distribution network and efficient product logistics, as well as rapid development of the trading business in the area of crude oil and petroleum products.
