According to pre-audited data, Mazeikiu Nafta, fully taken over by the Polish concern PKN Orlen, suffered EBIT (earnings before interest and taxes) losses of 2 million litas (578,930 euros) over the first three months of the year 2009.
The revenues of Mazeikiu Nafta reached 2.2 billion litas (0.9 billion US dollars/ 636.82 million euros) over January-March this year, this is 1.4 billion litas (0.7 billion US dollars/405.25 million euros) less compared to the same period last year. The consolidated net losses over the first three months stood at 48.5 million litas (18.4 million US dollars/ 14 million euros). In 2008, losses over the same period stood at 6.6 million litas (2.9 million US dollars/ 1.9 million euros), reports ELTA.
Such result was mainly influenced by reduction in fuel consumption due to world economic crisis and low oil procession margin.