07 Nov 2019

MOL Group releases the Investor Day presentation

MOL Group has published the presentation for its Investor Day, which is taking place today in London. 

MOL Group has published the presentation for its Investor Day, which is taking place today in London. This provides a progress report on the targets of the “MOL Group 2030” strategy announced three years ago, including updated mid-term targets of the main business segments as well as further insight on the recently announced Upstream acquisition.

Investor Day presentation (link)

Highlights of the presentation:

  • Normalized Clean CCS EBITDA guidance is raised to USD 2.4-2.6bn for 2020 to reflect the contribution of the recent acquisition from H2 2020. EBITDA is then expected to gradually approach USD 3.0bn by 2023, as all three business segments are to visibly increase their contribution.
  • Upstream production guidance is raised to 120-130 mboepd for 2020-2023 and the annual Simplified Free Cash flow target is increased to USD 700mn (from USD 500mn+) on the back of the expected addition of the new assets in Azerbaijan.
  • Downstream will continue to execute its strategic growth projects and deliver net efficiency gains by 2023, whilst increasingly focusing on decarbonization and sustainability.  
  • After years of outstanding performance, Consumer Services EBITDA target is raised to USD 600mn by 2023 (from USD 500mn+) and the share of non-fuel margin is now expected to rise to close to 35% in the same period, as MOL is on the way to become a true consumer goods retailer.