MOL Group releases First Quarter 2022 Earnings Report
MOL Plc. has published the following documents today:
Highlights of the period:
- MOL Group delivered Clean CCS EBITDA of USD 833mn in Q1 2022, down by 6% compared to the previous quarter
- Upstream Q1 2022 Clean EBITDA more than doubled year-on-year and jumped to USD 504mn driven by rising oil prices coupling with the impact of an elevated gas price environment
- Downstream CCS EBITDA remained flat at USD 254mn in Q1 2022 year-on-year, overall macro volatility and the wholesale price regulation in Hungary influenced the results
- Consumer Services reached an EBITDA of USD 64mn in Q1 2022, decreasing by 44% year-on-year, as fuel price margin regulation in Hungary, Croatia and other CEE countries dented EBITDA generation
Chairman-CEO Zsolt Hernádi commented the result:
„2022 brought new challenges once again. Amongst rapidly changing external conditions, volatile and often adverse circumstances, MOL Group proved that we have the ability to react swiftly, a USD 833mn Q1 2022 Clean CCS EBITDA generation proves that we have been on the right track.
However, the greatest challenges in the upcoming period are no less than to secure energy supply security and maintain our profitability. We’re making significant efforts to adapt to the new environment and diversify our portfolio further to secure energy supplies to the CEE region. Also, MOL is in the middle of a transformation journey which requires heavy investments. We are very much committed to continue this process in the current volatile environment too. MOL Group has shown resilience during several crises in the past and I am confident that we will maintain our crucial role in providing a predictable energy supply and remain a trusted partner of our customers, stakeholders and the wider society.”
For further information, please contact Investor Relations:
Tel: +36 1 464 1395
Email: investorrelations@mol.hu