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Mol Group posted a net profit of 823 million USD for Q1-Q3 2017

Mol Group announced its financial results for Q3 2017. With 576 million Dollars delivered in the quarter, clean CCS EBITDA for the first nine months of the year is 12 per cent up from last year and stands at 1.87 billion USD.

2017-11-03 11:09:36

Upstream delivered 188 million USD EBITDA in Q3 with average daily production reaching 105,000 barrels of oil equivalent. Over the first nine months Upstream EBITDA grew by more than 30 per cent compared to Q1-Q3 2016. The segment continued to generate strong free cash flows in 2017, 15 USD on average on each barrel produced. This was achieved at average Brent prices of 52 USD per barrel.

Downstream posted lower clean CCS EBITDA at 271 million USD as both petrochemicals and refining contribution declined due to lower wholesale margins, lower own produced product sales and one offs. Downstream's contribution for the first nine months remained flat at 923 million USD

Chairman-CEO Zsolt Hernadi commented the results: "After the first nine months of the year we are well on track to deliver on our upgraded 2.3 billion UDS Clean CCS EBITDA guidance and on our MOL 2030 strategy. We continue to generate robust free cash flows this year despite not fully capturing the opportunities of the supportive external environment in Q3."

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