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Poland's Orlen sees one-off increasing 2023 net profit by about $1.48 billion

Reuters
Poland's Orlen logo displayed at fuel station in Bialystok

WARSAW (Reuters) - Polish state-controlled refiner Orlen said on Wednesday its 2023 net profit would increase by about 5.8 billion zlotys ($1.48 billion) due to an accounting one-off related to cash flow hedging.

Orlen said the impact is due to its discontinuing the use of cash flow hedging accounting related to its contract to buy liquefied natural gas (LNG) from Venture Global Calcasieu Pass.

($1 = 3.9079 zlotys)

(Reporting by Karol Badohal; Editing by Chris Reese)