Hungary · Delayed Price · Currency is HUF MOL Magyar Olaj- és Gázipari Nyilvánosan Muködo Részvénytársaság Earnings Call Transcripts
Fiscal Year 2025
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Clean CCS EBITDA for 2025 exceeded guidance at $3.369 billion, driven by strong Downstream and Upstream performance, despite refinery disruptions and weak petrochemicals. 2026 guidance is $3 billion EBITDA, with continued CapEx on refinery upgrades and crude diversification.
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Q3 2025 saw strong financial results, with clean CCS EBITDA up 15% year-over-year and robust downstream and consumer services performance. Full-year EBITDA guidance was revised to $3 billion due to a major refinery fire, with ongoing capacity and supply challenges being managed.
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H1 2025 profit before tax reached $782M and clean CCS EBITDA exceeded $1.5B, with Q2 results reflecting economic slowdown but strong internal performance. Downstream and upstream segments faced margin and price pressures, while consumer services grew 27% in EBITDA. Guidance for 2025 is upheld.
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Q1 2025 results are on track with annual guidance, as profit before tax and EBITDA rose year-over-year despite increased external risks. Upstream, downstream, and consumer services all delivered growth, while capital discipline and strong cash flow supported a stable financial position.
Fiscal Year 2024
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2024 results met most guidance, with strong upstream production, normalized margins, and robust consumer services growth. Financials were impacted by FX losses, but net debt/EBITDA remains below 1x. 2025 guidance targets EBITDA above $3B and continued operational discipline.
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Q3 results show strong Upstream performance and resilient Consumer Services, but Downstream and petchem remain pressured by weak margins and demand. Full-year guidance is maintained with a cautious outlook amid macroeconomic headwinds and tax uncertainties.
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Q2 2024 saw strong EBITDA growth, resilient upstream and downstream performance, and reaffirmed 2024 guidance despite rising risks from margin pressure, regulatory changes, and supply chain challenges. CapEx and non-fuel margins rose, while net debt increased due to dividends.