Unipetrol will release its consolidated Q1 2002 CAS results this afternoon, which will reflect the disappointing results of the main subsidiaries released on Tuesday, caused by depressed output prices and operating margins (Ceska rafinerska, the largest subsidiary, ended the quarter with a pre-tax profit of CZK -0.68 bil., and Chemopetrol, the second largest, with CZK -0.16 bil). We do not expect the stock to react to the consolidated figures. Our projections are:
(CZK mil.) Q2 2002e Q1 2001 Change
Sales 19,973 17,627 13.3%
EBITDA 115 1,355 -91.5%
EBIT -847 531 -259.7%
Pretax profit -640 706 -190.6%
Net Income -489 694 -170.4%
Net Income
net of min. interest -219 694 -131.5%
Also, Unipetrol will release its audited consolidated 2001 CAS results; unaudited 2001 net profit reached CZK 1.4 bil.
(Jiri Soustruznik)