MOL Group releases First Quarter 2018 Earnings Report

• Clean CCS EBITDA rose 2% year-on-year to USD 625mn in Q1 2018 as weaker Downstream earnings were more than offset by rising EBITDA in the other three segments; simplified free cash-flow remained robust at USD 465mn;
• Upstream EBITDA jumped by 31% year-on-year to USD 287mn on rising oil and gas prices, higher production and lower costs
• Downstream Clean CCS EBITDA fell by 33% to USD 218mn in Q1 on weaker refinery and petchem margins
• Consumer Services enjoyed impressive EBITDA growth (+48% year on year to USD 81mn) as both fuel and non-fuel contribution jumped and FX was a support

Chairman-CEO Zsolt Hernádi commented on the results: “We managed to grow our EBITDA from a high base in the first quarter, which was a further testament to our resilient, integrated business model and it provides a firm base for another successful year and for the continued work on our strategic transformation. As oil prices kept on climbing and the regional demand remained robust and as refinery and petchem margins came under pressure, impressive earnings growth of the Upstream and Consumer Services segments more than offset the lower Downstream profits.

For further information, please contact Investor Relations:
Tel: + 36 1 464 1395
Email: investorrelations@mol.hu