MOL holds successful Annual General Meeting
- Shareholders approve consolidated financial statements of MOL Group for 2014
- Annual General Meeting accepts dividend payment of HUF 50 bn
- Shareholders reelect three members to the Board of Directors and elect new member to the Supervisory Board
At the Annual General Meeting of MOL Plc. held today, shareholders approved the report of the Board of Directors regarding finances for the year 2014, and furthermore approved consolidated financial statements. The General Meeting has accepted the Board’s proposal for HUF 50 bn dividend payment, as well as reelected Zsigmond Járai, Dr. László Parragh and Dr. Martin Roman as members of the Board of Directors and elected Dr. Norbert Szivek as a member of the Supervisory Board. MOL Group also launched a website at www.molgroup.info/annualreport2014 to present its 2014 Annual Report in a user-friendly and transparent way.
Zsolt Hernádi, MOL Chairman-CEO, commented on last year’s results: “I’m proud that MOL Group delivered a strong set of financial and operational results in 2014 despite a tough external environment. Our 2014 financial and operational results are testimony to the strength and resilience of MOL Group’s integrated business model. We have managed to deliver strong results despite the drastic fall in oil prices we experienced during the second half of the year. We virtually maintained (a mere one percent decline) our Clean EBITDA level at HUF 511 bn (USD 2.2 bn), preserved our strong cash generating position, grew our capital expenditure and kept our gearing and indebtedness ratios at historical lows, while we remained fully committed to maintaining our dividend distribution.”