MOL’s Annual General Meeting (AGM) approves a dividend of HUF 280 billion
- The Annual General Meeting approved MOL Group’s consolidated financial statement for 2022.
- The General Meeting decided to pay a dividend of HUF 279,751,665,550 and approved the report of the Board of Directors on the 2022 financial statements
- The General Meeting elected Zsolt Hernádi for another 5-year term to the Board of Directors, Dr. András Lánczi and Zoltán Áldott to the Supervisory Board. The Supervisory Board elected a new member, Péter Bíró.
BUDAPEST, 27 April 2023 - At MOL Group’s Annual General Meeting, shareholders approved the Board of Directors' report on the 2022 financial results and adopted the consolidated financial statements . The General Meeting decided to pay a dividend of approximately HUF 280 billion, reelected Zsolt Hernádi to the Board of Directors, and Dr. András Lánczi and Zoltán Áldott to the Supervisory Board.
2022 has been a successful year for MOL Group achieving a clean CCS EBITDA of $4.7 billion, up 43 per cent year-on-year. The Downstream segment delivered $2.2 billion, up 50 per cent year-on-year, driven by good refining performance.
Upstream's EBITDA was $2.2 billion, up 69 per cent year-on-year, reflecting MOL's solid international and domestic portfolio in a year of high oil and gas prices.
Consumer Services delivered EBITDA of $320 million, down 47 per cent year-on-year, in spite of the impact of price controls in Central and Eastern Europe. Gas Midstream's EBITDA of $163 million was 20 per cent higher than the previous year, driven by increased demand for domestic and cross-border transportation and continued storage replenishment.
The Annual General Meeting approved the Board of Directors' dividend proposal of approximately HUF 280 billion, an even higher increase compared to last year. The good result and the strong balance sheet enabled the base dividend per share to be increased from HUF 100 last year to around HUF 150, continuing the gradually increasing dividend payment practice of previous years, and the shareholders also approved an extraordinary dividend of around HUF 200.
Speaking at the event, Zsolt Hernádi, Chairman-CEO said: "In the past year we had to adapt to the consequences of the war, the sanction packages, and the extraordinary taxes and price cap regimes introduced in several countries of the region. We had to ensure the energy supply of the region in a way that complied with international regulations. Despite these unprecedented challenges we have fulfilled our most important mission: we managed to secure the region's fuel supply, and, at the same time, preserved our energy sovereignty and competitiveness. In our refinery in Százhalombatta we have successfully continued, and in Slovnaft started the diversification of crude oil processing. Precisely today arrived in Bratislava the first shipment of Azeri Light crude oil from the co-owned ACG field in Azerbaijan. In the meantime, we haven’t stopped implementing our strategic goals. In the meantime, we have advanced with the implementation of our startegic goals. We’ve won the domestic waste concession which will make us responsible for managing 5 million tons of municipal waste in a more sustainable manner. Despite all difficulties we’ve become stronger during the crisis than we’d been before. We have exceeded our targets and closed the year with our best-ever financial results.”
The Annual General Meeting re-elected Zsolt Hernádi to the Board of Directors for a five-year term, and Prof. Dr András Lánczi and Zoltán Áldott were re-elected to the Supervisory Board, also for a 5-year term. The shareholders (following the resignation of Márton Nagy) elected Péter Bíró to the Supervisory Board and the Audit Committee for a 5-year term.