Hungary-based MOL delivered strong financial performance in 2015 on the domestic market. Thus, in the Downstream segment, MOL Group’s retail sales volumes in Romania (including fuels, LPG and lubricants) rose by 17 percent last year, to 586 kt, up from 501 kt in 2014, mainly due to the “inorganic network expansion”, a press release informs on Wednesday.
For the full year 2015, diesel fuel sales of the Romanian subsidiary grew by 15 percent, to 419 kt, while gasoline sales increased by 18 percent, to 152 kt.
In the fourth quarter of 2015 alone, Hungarian oil and gas company’s retail sales volumes in Romania were up by 20 percent compared to the same interval of 2014, to 153 kt. Diesel sales stood at 110 kt in Q4, up 20 percent, and gasoline sales were 39 kt, an increase of 18 percent vs. the corresponding interval of 2014.
At group level, MOL Downstream had the historically highest and strongest financial performance in 2015 with a clean CCS EBITDA of HUF 463 billion (USD 1.65 billion) in 2015, more than doubling its results compared with the previous year.
“MOL proved in 2015 that it has an efficient, highly cash generative Downstream platform which is able to capture market opportunities as it continues to invest into the long-term growth of the business. In addition, the first year delivery of the Next Downstream Program already exceeded our expectations. (…) Our ultimate goal for 2016 is to generate around USD 2 billion EBITDA and sufficient cash flows to be able to continue to cover both internal investment needs and dividends to our shareholders, even under adverse scenarios,” MOL’s Chairman-CEO Zsolt Hernádi stated.