MOL Group releases the Investor Day presentation
MOL Group has published the presentation for its Investor Day, which is taking place today in London. This provides a progress report on the strategic targets defined in the “MOL Group 2030” strategy announced two years ago, including updated mid-term targets of the main business segments as well as rolling-over the 5-year financial framework for 2019-2023. While retaining its resilient, integrated business model and consistently delivering strong results, MOL has embarked on a journey to transform itself to become a leading chemicals company in CEE, a truly customer centric organization and to be the first choice of employees, customers and investors.
Highlights of the presentation:
- Normalized Clean CCS EBITDA guidance for 2019-21 was raised by around 10% to USD 2.2-2.4bn on the back of the E&P portfolio longevity and the strong Consumer Services contribution, while the DS2022 strategic projects are to lift normalized EBITDA to USD 2.4-2.6bn by 2022-23
- Strong cash flows allow for continuing to steadily increase base dividend per share in next 5 years, similarly to the previous years
- Downstream will continue to boost efficiency and deliver net savings by 2023, while the first round of strategic and transformational projects shall already have a visible earnings contribution by 2022-23
- Consumer Services is expected to generate over USD 500mn EBITDA by 2023 through satisfying CEE mileage demand, boosting Consumer Goods EBITDA and scaling up mobility services
- Upstream aims at maintaining production at 100-110 mboepd through 2023, is expected to generate at least USD 500mn simplified FCF annually in the next 5 years at USD 60/bbl oil price and will have to add 350mn boe new reserves to meet its 500mn 2P reserves target by 2023
With the new Investor Day presentation, MOL is also updating its IR presentation, which is downloadable here