Interview with Unipetrol’s CEO

The Unipetrol CEO, Pavel Svarc has held an interview for Hospodarske noviny daily; the key points are:

(i) That the recent rise and fall of Unipetrol shares was driven by speculations - a share price below CZK 100 does not reflect the value of Unipetrol;
(ii) Unipetrol’s value has increased since signing of the agreement between PKN and the National Property Fund;
(iii) Unipetrol’s good 2004 performance was also driven by increased demand for chemical products and rising margins;
(iv) Svarc expects further consolidation in the petrochemical industry;
(v) Unipetrol’s CAPEX is expected at CZK10-12bn in the next five years.

Note that Patria has Unipetrol of Watch list.