about us | newsletter | contact | archive | members area
Andreea Paun, Griffes
In 2018, we will be delivering Unirii View»
  News:      POLITICS   |   ECONOMICS   |   ENERGY   |   INVESTMENTS   |   APPOINTMENTS   |   GREEN   |   INFRASTRUCTURE   |   REAL ESTATE   |   AGRIBUSINESS   |   DRIVING   |   CITY LIFE   |   EVENTS   |

Mol Group net profit up by 24 per cent to 323 million Euro in Q1

Mol Group announced its financial results for Q1 2017, with net profit up by 24 per cent year-on-year to 323 million Euro. In the first quarter, all business segments (upstream, downstream, consumer services, gas midstream) managed to increase their contributions compared with the same period of the previous year.

2017-05-05 13:10:00

Upstream EBITDA surged year-on-year by 50 per cent and reached 219 million USD capitalizing on higher oil prices and the very competitive asset base. Production remained stable at 111,500 barrels of oil equivalent per day.

Downstream posted an all-time high first quarter clean CCS EBITDA delivering USD 324 million USD, which is 15 per cent higher than in the same period of the previous year. The growth was the result of much improved asset availability (and thus strong volumes and yields) and supportive margins in both refining and petrochemicals.

Mol's retail gasoline sales in Romania were stable in the first quarter, while diesel sales increased by 13.5 per cent compared with the first three months of the previous year.

Chairman-CEO Zsolt Hernadi commented the results: "The first quarter was an excellent start to the year 2017 with all our business segments posting robust earnings growth, as we were able to fully capture the benefits of a supportive external environment on the back of our systematic efficiency improvement efforts and low-cost, high-quality asset base. These achievements provide a strong foundation for the rest of the year as we plan to deliver again at least 2 billion USD EBITDA and pass major milestones in the implementation of our Mol Group 2030 strategy."



COMMENTS
There are 0 comments:

 
ADD A COMMENT
 
Name
Email
Comment
Validation Code
   
 
 

0 Comments  |  9613 Views
Daily Info
AFI Europe Romania starts the construction of AFI City residential project

AFI Europe Romania announces the start of the AFI City residential project construction. First phase is to end in 16 months and will deliver two buildings with 190 homes.

Romania is the sixth most popular country for data centre investment, report shows

Romania ranks 6th in the top destinations in the datacentres market in Europe, while the Nordics and the Netherlands occupy the first positions, according to Savills new Data ...

Google Street View cars to come to Romania this summer

Google Street View cars will return to Romania this summer to update images of local roads in Google Maps, according to a statement by the company.

Romania and US held 6th meeting of the Strategic Partnership Dialogue

The Governments of Romania and the United States of America held the sixth plenary meeting of the Strategic Partnership Dialogue in Bucharest, Romania, on June 19, 2018.

H&M leases 1,000 sqm for future HQ in Unirii View project

Fashion retailer H&M leases 1,000 sqm for its future HQ in Unirii View office project.

 
 
   
advertising

advertising

advertising

advertising

advertising

More on News
ING Bank Romania to accelerate business development through digitization

Customers are increasingly interacting with the bank through its digital platforms and are making more card payments, according to a report issued by ING Bank Romania.

4 Comments

TransferGo: We will come to a point where money transfers will be dominated by app usage

Cash will become obsolete and this will be the result of digital finance advancement, Marius Nedelcu, Country Manager at TransferGo told The Diplomat-Bucharest.

1 Comment

Globalworth: The number of green accredited buildings continues to grow every year

Romania today is one of the few economies in Europe that had a consistent expansion over the past six years, outpacing EU average growth, Dimitris Raptis, deputy CEO and Ch...

3 Comments

UniCredit announces updates in the Mobile Banking application

UniCredit Bank launches new facilities in the up-to-date version of its Mobile Banking application to provide customers with a simpler and faster user experience.

3 Comments

ESOP: We expect that the green building trend further grows

The Romanian market is one of the most dynamic in the region due to the accelerated development in IT&C, BPO, shared services industries, and to the expansion of research &...

Immofinanz: Constant, visible shift towards energy efficiency on the local office sector

Romania's strong economic growth in 2017 placed the country in a leading position in the CEE region and the trend is expected be sustainable over the next years, Christian ...

2 Comments

Crosspoint: Currently, there is a relatively small number of green office buildings throughout Romania

2017 has been a good year for the office market all throughout the CEE region: low vacancy rates (Bucharest - nine per cent, Warsaw - 14 per cent, Budapest - 9.2 per cent, ...