Biznes Fakty
„Losses counted in tens of billions of zlotys”. Orlen warns
Audits and evaluations have revealed that management actions taken from January 2016 to February 2024 resulted in billions in losses, Orlen reported on Monday. The corporation stated that additional notifications had been sent to the prosecutor’s office regarding this matter.
On Monday, Orlen disclosed that the total number of inspections related to decisions made within the Orlen Group from January 2016 to February 2024 has reached 118. During this period, auditing firms and law firms conducted 15 investigative audits, and the Group’s personnel carried out 103 audits and inspections.
„The erroneous business decisions and actions taken by the previous management under questionable circumstances continue to weigh heavily on the company’s performance. Losses from failed investments and dubious transactions are now estimated to be in the tens of billions of złoty,” the company indicated.
Orlen highlighted that „64 control processes have been finalized so far, with several dozen more controls and audits currently in progress.” „The outcome of these efforts is a number of notifications to the prosecutor’s office, concerning the actions of the former management board or senior executives,” the company emphasized. It also noted that „due to the ongoing discovery of irregularities, further verification efforts are planned, which may lead to applications to the prosecutor’s office.”
Simultaneously, Orlen pointed out that remedying the negative consequences of the decisions made by the previous management, as well as compensating for the resulting losses, will facilitate the execution of a new strategy aimed at fostering the company’s growth and ensuring energy independence and security, which are priorities of the current management board.
Taking Over the Movement
As an instance of irregularities, Orlen cited the acquisition process of shares in the Ruch company. „Auditors have indicated that the decision to purchase the company was made first, with analyses and opinions ordered afterward to validate such a choice,” the company stressed.
Orlen also remarked that the Ruch restructuring program adopted „was unrealistic from the outset, as external advisors had already warned Orlen about it,” resulting in the need for the company to increase its capital involvement in the unprofitable entity.
„The total amount reached nearly PLN 950 million and, according to auditors, is challenging to recover,” Orlen stated concerning the Ruch situation. A report of suspected criminal activity related to this case was recently submitted to the prosecutor’s office by two former members of the Orlen management board, including the former president Daniel Obajtek.
Sausage deliveries
According to Orlen, auditors also confirmed that the company frequently overlooked its internal procedures to support entities and institutions linked to Daniel Obajtek’s hometown, himself, or his associates.
„One instance involves the signing of a contract for the delivery of hot dog sausages with the W. company. During the investigation, it was discovered that the company was added to the list of participants in the purchasing process, despite not having completed the required market research procedure,” the statement noted.
Orlen assessed that the selection of this company through a non-standard closed procedure was equally unjustified, with the audit allegedly revealing „indirect connections between the W. company and Daniel Obajtek.” „The president of the W. company himself, in discussions with Orlen employees, frequently referenced conversations with the then-head of the company and board member Michał Rog,” the company added. A notification of a potential crime regarding this matter has also recently been forwarded to the prosecutor’s office.
The company additionally reported that two other studies „confirmed irregularities in the financing of a football academy and a sports club associated with the owner of the company Profbud, from whom Daniel Obajtek purchased an apartment in Warsaw’s Awangarda housing estate at a price significantly below the market rates recorded at that time.” Orlen estimated that during Daniel Obajtek’s tenure as president—from February 2018 to February 2024—over PLN 2.25 million was allocated to both institutions. The audit findings regarding this case have also been recently submitted to investigators.
The „political purpose” of the takeover Polska Press
Orlen indicated that another audit revealed that the acquisition of the press publisher Polska Press „may have been motivated by political objectives.”
The company justified this by stating that „this is evidenced by the practices uncovered during the 2023 election campaign,” when the management of Polska Press allegedly established „a mechanism for blocking election advertisements to promote representatives of only one side of the political spectrum.” A notification of potential criminal activity regarding this issue is set to be submitted to the prosecutor’s office shortly.
Orlen acknowledged that additional notifications are being prepared, concerning the actions of the previous management from January 2016 to February 2024. At the same time, the company announced that these notifications will be forwarded to investigators in the upcoming weeks.
Wojciech Jasiński served as the CEO of Orlen from December 2015 to February 2018. Subsequently, Daniel Obajtek held this position until early February 2024.
