Manaster Love: Orlen – not only business but besides national pride

agencja-informacyjna.com 1 year ago

Zdjęcie: Miłosz Manasterski Orlen to nie tylko biznes

[Information Agency – Opinions] The thought of corporate privatisation can be agreed. However, the practice raises many hard questions, specified as the question of the destiny of their employees or the impact of specified an operation on the business environment – writes Miłosz Manasterski in a fresh column for the Polish Radio24.pl portal.

Manaster Love: besides valuable to sell

In the face of discussions about the future of Orlen, the Polish energy giant, it is impossible to ignore his awesome financial results. In the last months of 2023, Orlen demonstrated astonishing economical performance despite global challenges. The company achieved operating profit of PLN 34 billion and net profit exceeding PLN 17 billion during the first 9 months of the year. These figures show the robustness and strategical function of Orlen in the Polish economy.

Jewel in the Crown

In his column, the editor-in-chief of the Information Agency emphasizes that selling Orlen – a jewel in the crown of the Polish energy sector – can have far-reaching consequences. Manaster Love raises the question whether abroad investors will be able to adequately care for the long-term improvement and well-being of its employees. It is worth noting that OrleneIn addition to crucial profits, he played an crucial function in Poland's public finances, contributing nearly PLN 36.5 billion to the state budget in the first half of 2023.

Lesson of the 1990s.

Felieton points out the dangers of possible privatisation of Orlen, recalling past and lessons from the 1990s. The author argues that privatisation can lead to short-term profit at the expense of long-term improvement and stability. This position is supported by examples from the past, where abroad acquisitions of Polish companies did not always service local interests.

Orlen: the results are defended by the corporate board

Financial results Orlene in the second 4th of 2023, with revenues of PLN 74.62 billion and net profit of PLN 4.54 billion, and almost PLN 3.46 billion net profit in the 3rd quarter, attest to the company's management and innovation efficiency. These results are a counterargument to criticism of the company's management by the current political opposition, as pointed out by the columnist.

Economic autonomy

The column of the editor-in-chief of the Information Agency points to the request for a broader look at the issue of national resource management. The Polish concern, as an crucial player on the global stage, is not only a company generating profits, but besides a symbol of Polish economical autonomy and innovation. Protecting specified national assets from abroad dominance is not only an economical but besides a strategical issue for the full country.

Sales? possibly in 20 years.

“If Poland continues to make at specified a pace (and this growth generated to a crucial degree state-owned companies) then in 2 decades we can accumulate adequate capital in Poland so that in possible privatisation processes Polish business can take over controlling packages of large state-owned companies. Now it is impossible," writes Miłosz Manasterski in an article for PolishRadio24.pI.

Strategic Thinking

The article is not only an analysis of the current situation of the multi-energy company, but besides stresses the importance of strategical reasoning in managing key national assets. In the context of globalisation and increasing global competition, the protection of specified companies is not only a financial issue, but besides an aspect of Poland's national sovereignty.

We don't gotta sale anything.

“Today's sale of Orlen (as well as another state-owned companies) would make sense only in 2 situations. The first is the threat of the collapse of the company, followed by mass layoffs and the possible of a collapse on the stock marketplace and the currency crisis. The second is simply a gigantic public finance crisis and a deficiency of credit capacity of the state. Thank God, we are not in any of these situations," writes Miłosz Manasterski.

Read the full column of Miłosz Manasterski on PolskieRadio24.pl