"We managed to perform well in the second quarter and deliver high financial results," Ireneusz Fafara, the company's CEO, said in a press release.
First-half revenues fell by 27% to 1.545 billion dollars (EUR 1.402 b) and EBITDA slumped down by 34% to 134 million dollars (EUR 121.7 mln).
In the second quarter alone, the company's net profit declined by 21% year-on-year to 77 million dollars (EUR 69.92 mln) as revenue went down by 30 percent to 882 million dollars (EUR 800.87 mln).
The company, which is 100% owned by Poland's Orlen, posted a net profit of 208.3 million euros for the full year 2016, versus a loss of 104.6 million euros in 2014. Its annual revenue last year dropped by 33% to 3.64 billion euros.