08-11-2018

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
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With the new Investor Day presentation, MOL is also updating its IR presentation, which is downloadable here