Orlen estimated PLN 2 billion tax: BO? raised target for Orlen stock

Published on 10/14/2026 at 11:09 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Revenue was PLN 76.5 billion in the second quarter of 2026. Orlen stock stood at EUR 36.00 on October 14, 2026 between bid EUR 35.79 and ask EUR 36.20.

Tax and earnings timeline

ORLEN estimated a PLN 2 billion windfall tax on October 2, 2026.
Second-quarter revenue reached PLN 76.5 billion on August 6, 2026.
Orlen stock trades at EUR 36.00 at 11:03 a.m. CEST at Lang & Schwarz on October 14, 2026.

Orlen, PLPKN0000018, Illustration mit AI erstellt.

Orlen (PLPKN0000018) estimated a PLN 2 billion windfall tax on October 2, 2026, while BO? raised its 12-month target from PLN 175.00 to PLN 180.00 on August 19, 2026, according to ORLEN and MB-IG. The tax estimate covers fuel profits from March through August 2026 and adds a regulatory cost to an otherwise strong earnings picture.

Three events shape the stock

On June 25, 2026, Orlen paid a dividend of PLN 8.00 per share, according to MB-IG. On August 6, 2026, the company reported second-quarter revenue of PLN 76.5 billion, LIFO-based EBITDA of PLN 13.9 billion and net profit of PLN 7.7 billion in its results release.

On October 2, 2026, the estimated windfall tax became the latest dated financial item. The PLN 2 billion figure is an estimate for five months of the tax period, so it should be read as a potential earnings charge rather than a revision to the reported second-quarter revenue.

What does the tax mean for earnings?

The regulatory charge stands against the group's operating strength. ORLEN generated PLN 15.2 billion of operating cash flow in the second quarter of 2026, while capital expenditure reached PLN 14.7 billion in the first half of 2026, according to ORLEN. The comparison matters because the tax estimate is material beside the cash generated in the latest reported quarter, even though the company also continues to fund energy investment.

Next report arrives November 5

ORLEN moved the publication date for its third-quarter 2026 financial statements from November 19, 2026 to November 5, 2026, according to ORLEN. That report will be the next scheduled test of whether the second-quarter profit strength can absorb the new fiscal burden.

Orlen stock price in euros

Orlen stock was trading at EUR 36.00 at Lang & Schwarz on October 14, 2026 at 11:03 a.m. CEST. On GPW, the PKN listing was at PLN 156.60 at 10:51 a.m. CEST on the same date, while the market capitalization was PLN 181.8 billion and the 52-week range was PLN 84.85 to PLN 164.12. The further course of trading is shown by the continuously updated real-time quote of Orlen stock.