Lotos expects that 2007 will not be worse than the previous year, although Q1/2007's results will not be the best, according to statements made on Wednesday by the concern's CEO Pawel Olechnowicz. Grupa Lotos also upheld its forecasts for 2006. Olechnowicz also announced that GL would publish its forecast for 2007 in October.
Our view: Lotos’ guidance for 2006 net income stood at PLN 657.7m, which, according to our preliminary calculations, going to be met. If closely the same figure is going to be delivered in 2007, it could be slightly positive for the market since the full year 2007 net income consensus in Bloomberg currently still stands ca. 13% below at PLN 570.5m. Thus we might expect some upgrades after the quarterly results.