May 6, 2020 / 5:53 AM / in 25 days

BRIEF-Poland's PKN Orlen Q1 Net Result Turns To Loss Of 2.24 Bln Zlotys

May 6 (Reuters) - Polski Koncern Naftowy Orlen:

* Q1 NET LOSS 2.24 BILLION ZLOTYS VERSUS PROFIT OF 849 MILLION ZLOTYS YEAR AGO

* Q1 REVENUE 22.08 BILLION ZLOTYS VERSUS 25.25 BILLION ZLOTYS YEAR AGO

* Q1 EBITDA LOSS 969 MILLION ZLOTYS VERSUS POSITIVE EBITDA 1.83 BILLION ZLOTYS YEAR AGO

* Q1 EBITDA LIFO 1.61 BILLION ZLOTYS VERSUS 2.0 BILLION ZLOTYS YEAR AGO

* ON CORONAVIRUS: SITUATION AFFECTED TO A LARGE EXTENT RESULTS ACHIEVED BY THE GROUP IN Q1, GROUP SUFFERED BOTH A DECREASE IN CRUDE OIL PRICES AND SHARP DROP IN DEMAND FOR ITS PRODUCTS AND IN CONSEQUENCE DROP IN THEIR PRICES, WHICH IS REFLECTED IN RESULTS OF ALL OPERATING SEGMENTS

* ON CORONAVIRUS: CURRENTLY NO THREATS TO SUPPLY CHAIN, BOTH WITH RESPECT TO PURCHASE OF RAW MATERIALS AND GOODS, AS WELL AS FOR INTERNAL LOGISTIC PROCESSES

* ON CORONAVIRUS: ESTIMATES THAT TOTAL COST INCURRED IN Q1 DUE TO PREVENTIVE MEASURES TAKEN AMOUNTED TO APPROXIMATELY PLN 11 MLN

* SAYS AT PRESENT FINANCIAL SITUATION OF GROUP IS STABLE Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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