MOL Group Wins Best Downstream Company Award
MOL Plc. hereby informs capital market participants that it received the Petroleum Economist’s 2016 Best Downstream Company Award. The Award recognizes the implementation of a clear business strategy, the achievement of business goals, commitment to employee development and an innovative approach to tackling business challenges.
MOL Group embarked on the implementation of two consecutive efficiency improvement programs covering the full Downstream value chain since 2011. Over 400 individual efficiency improvement actions have been completed delivering nearly half of the best ever MOL Group Downstream result in 2015. Clean CCS EBITDA generation amounted to USD 1.65bn alongside the strong free cash flow generation of more than USD 1bn last year.
Ferenc Horváth, Downstream Executive VP, MOL Group says: “We are honoured to receive such a prestigious award, which recognizes the successful implementation of our business strategy and our operational excellence. MOL Group Downstream started an ambitious journey in 2011 strongly focusing on internal efficiency improvements and significantly growing its retail and petrochemicals businesses. We strongly rely on and believe in the expertise and dedication of our people and we are convinced that human capital and the continuous development of corporate culture are of utmost importance for any business strategy to succeed.”