1. General information

1.1. Principal activity of the ORLEN Group

Polski Koncern Naftowy ORLEN Spółka Akcyjna seated in Płock, 7 Chemików Street (“Company”, “PKN ORLEN”, “Issuer”, “Parent Company”) was founded by incorporation of Petrochemia Płock S.A. with Centrala Produktów Naftowych S.A., on 7 September 1999.

PKN ORLEN along with the entities forming the Capital Group of Polski Koncern Naftowy ORLEN S.A. (“ORLEN Group”, “ORLEN Capital Group”, “Group”, “Capital Group”) is one of the biggest and most modern fuel and power companies in Central Europe, operating on the Polish, Lithuanian, Czech and German market. The Group also possesses entities located in Malta, Sweden, the Netherlands, Slovakia, Switzerland, Estonia, Latvia and Canada.

The core business of the ORLEN Group is crude oil processing, production of fuel, petrochemical and chemical goods, as well as, retail and wholesale of fuel products. The ORLEN Group conducts also exploration, recognition and extraction of hydrocarbons, and generates, distributes and trades of electricity and heat.

The activity of the ORLEN Group companies is also service-related activity: storage of crude oil and fuels, road and rail transport, maintenance and overhaul services, laboratory, security, design, administrative, insurance and financial services.

PKN ORLEN shares are quoted on the main market of the Warsaw Stock Exchange (WSE) in the continuous trading system. The first quotation of the shares were held on 26 November 1999. According to the WSE classification, PKN ORLEN is classified to the oil and gas sector.

One of the subsidiaries of PKN ORLEN – Unipetrol a.s. is also present on the capital market. The shares are listed on the Stock Exchange in Prague. As at 31 December 2014, the Parent Company holds directly or indirectly shares in 87 related parties - detailed information is presented in note 5.

1.2. Concessions held

The Group’s operations require concessions, due to their importance to the public interest.

The Management Board believes that the probability of failure in obtaining required concessions is remote.

As at 31 December 2014 and as at 31 December 2013 the Group had no liabilities related to concession services in scope of IFRIC 12.

1.3. Shareholders’ structure

Shareholders holding directly or indirectly via related parties, at least 5% of total votes at the General Shareholders’ Meeting of the Parent Company as at 31 December 2014:

1.4 Composition of the Management Board and the Supervisory Board of the Parent Company

As at 31 December 2014 and the date of preparation of foregoing consolidated financial statements, the composition of the management and supervisory boards of the Parent Company is as follows:

Management Board

Dariusz Jacek Krawiec
Sławomir Jędrzejczyk
Piotr Chełmiński
Krystian Pater
Marek Podstawa

 

President of the Management Board, General Director
Vice-President of the Management Board, Chief Financial Officer
Member of the Management Board, Business Development/Power and Heat Generation Officer
Member of the Management Board, Production
Member of the Management Board, Sales

 

Supervisory Board

Angelina Anna Sarota
Leszek Jerzy Pawłowicz  
Adam Ambrozik 
Maciej Bałtowski
Cezary Banasiński 
Grzegorz Borowiec 
Artur Gabor 
Radosław L. Kwaśnicki 
Cezary Możeński 

 

Chairman of the Supervisory Board
Deputy Chairman of the Supervisory Board
Secretary of the Supervisory Board
Member of the Supervisory Board
Member of the Supervisory Board
Member of the Supervisory Board
Member of the Supervisory Board
Member of the Supervisory Board
Member of the Supervisory Board