Publication of MOL Group’s Q4 and Full Year 2021 results
MOL Plc. has published the following documents today:
Highlights of the period:
- Clean CCS EBITDA came in at USD 947mn in Q4 2021, while FY 2021 Clean CCS EBITDA reached USD 3,531mn exceeding the upgraded annual guidance of USD 3.2bn
- Organic CAPEX reached 1,543mn in 2021, thus simplified FCF (Clean CCS EBITDA less organic capex) amounted to USD 1,988mn as all segments generated sizeable positive simplified FCF
- Downstream Q4 Clean CCS EBITDA increased significantly to USD 352mn YoY, boosted by high refinery and petrochemical margins
- Consumer Services reached an EBITDA of USD 116mn in Q4 2021 decreasing by 10% YoY
- Upstream Q4 2021 Clean EBITDA rebounded to USD 513mn YoY, driven by continuously higher oil and gas prices
- 2022 guidance: Clean CCS EBITDA guidance of around USD 2.8bn or above and organic capex at USD 1.7-1.8bn, implying a simplified FCF of around USD 1.0bn or above
Chairman-CEO Zsolt Hernádi commented:
“I am proud that MOL Group significantly outperformed the upgraded guidance and delivered an all-time high EBITDA of USD 3.5bn in 2021. Due to MOL’s integrated business model and the good internal performance we were able to maximize the benefits from the external environment, allowing us to fund our transformational investments.
Despite the operational challenges we continued our strategic transformational journey that we accelerated with the Shape Tomorrow 2030+ Strategy update one year ago. The construction of the new polyol complex proceeded according to plan and we also took inorganic steps to strengthen our Consumer Services portfolio in Poland and Slovenia. We expect that the external environment would remain volatile and unpredictable in 2022. Against this macro backdrop we expect MOL’s EBITDA generation to reach or even exceed USD 2.8bn this year.”
For further information, please contact Investor Relations:
Tel: +36 1 464 1395
Email: investorrelations@mol.hu