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MOL Group posts 835 million USD profit for the first nine months of 2018

MOL Group announced its financial results for the third quarter of 2018. With a net profit of 323 million USD in Q3, the company reached a profit of 835 million USD for the first nine months of 2018.

2018-11-01 12:04:51

Upstream delivered 319 million USD EBITDA in Q3, up by 70 per cent year-on-year on the back of rising oil and gas prices. The average daily hydrocarbon production was marginally lower in Q3 and stood at 108,300 barrels of oil equivalent per day (boepd), as rising production in the Catcher area in the UK mostly offset the impact of the usual annual turnarounds.

Downstream Clean CCS EBITDA remained almost flat at 262 million USD in the third quarter, despite significantly weaker refinery and petrochemical margins. The deteriorating margins were mostly compensated by strong volumes and improved sales margins in refining in the quarter.

Consumer Services continued its double-digit growth driven by dynamic expansion of non-fuel margin and healthy fuel market trends. The segment reached a new all-time high quarterly result at 147 million USD, up by 11 per cent year-on-year. As the rollout of the flagship non-fuel concept significantly accelerated, the number of reconstructed sites with Fresh Corners rose to 606 from 363 a year ago.

The Gas Midstream segment reached 25 million USD EBITDA in Q3, lower than a year ago due to lower volumes and rising energy cost.



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