Unipetrol AS (BAAUNIPE.PR) expects its 2008 earnings before interest and taxes to be flat on the year at 4.8 billion koruna ($289.4 million), the company said Friday.
Chairman Francois Vleugels told a press conference after fourth-quarter earnings that the company didn't want to be overoptimistic in its outlook, because as oil nears $100 a barrel it nears the limit customers think is acceptable to pay for refined products.
Earlier Friday, Unipetrol, the Czech petrochemical holding majority-owned by Polish oil company PKN Orlen SA (PKN.WA), reported it had more than halved its net loss on the year to CZK557 million.
The figure came below market expectations of a CZK468.35 million net loss, according to a Dow Jones Newswires poll of four analysts.
At 1012 GMT, Unipetrol traded down 0.4% on the day at CZK284.9, underperforming the overall market gain.