MOL’s diesel sales in Romania, up by 12 pc in H1

Retail fuel sales in Romania continued its strong rise. MOL’s diesel sales increased by 12 percent in the first half of the year, while its gasoline sales were 1 percent higher compared with the first half of 2016, a press release informs on Friday.

At group level, MOL’s all business segments increased their earnings implying a 23 percent growth of Clean CCS EBITDA in comparison with the same period last year.

Upstream achieved robust results in the first half of 2017, posting an EBITDA of HUF 128 billio n (USD 447 million), 45 percent higher year-on-year, and generating a hefty amount of free cash flow at USD 321 million.

Hungarian company has also reached a significant milestone in its petrochemicals transformation journey set out in the 2030 strategy through the signing of key licencing contracts for its flagship Polyol Project.

The first half of 2017 was marked by important milestones in the implementation of MOL Group’s 2030 strategy. The partnership agreements with Evonik and thyssenkrupp for MOL’s flagship investment into the propylene oxide value chain (the “Polyol project”) will give impetus to its petrochemical expansion and pave the way to become the leading chemical group in CEE. Furthermore, MOL is a step closer to build a network of 250+ electric vehicles chargers in CEE as part of the NEXT-E consortium, which received for this purpose EUR 19 million of EU funding.

“We are materially upgrading our full-year 2017 guidance to above USD 2.3bn Clean CCS EBITDA (from USD 2bn+) thanks to the very strong performance of the Group in the first half of the year, which was a further testament to our resilient integrated business model and asset quality,” Zsolt Hernádi, MOL Group Chairman-CEO, commented on the results.