Hungary · Delayed Price · Currency is HUF MOL Magyar Olaj- és Gázipari Nyilvánosan Muködo Részvénytársaság Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 saw a 25% year-on-year drop in Clean CCS EBITDA to $626 million, with upstream and consumer services offsetting downstream weakness caused by supply disruptions and regulatory caps. Net income was $522 million, and net debt rose due to inventory build and crude sourcing changes.
Fiscal Year 2025
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Clean CCS EBITDA for 2025 exceeded guidance at $3.369 billion, driven by strong Downstream margins and resilient fuel demand, despite refinery disruptions and weak petrochemicals. Strategic actions included crude supply diversification, renewables expansion, and progress on major projects.
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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 met all key targets, with profit before tax up 23% and clean CCS EBITDA up 16% YoY. Guidance is maintained despite increased macro, regulatory, and geopolitical risks. Upstream, downstream, and consumer services all delivered solid performance, while market volatility and regulatory uncertainties remain elevated.
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 results exceeded expectations with strong EBITDA growth, resilient upstream production, and robust consumer services performance. Downstream margins are under pressure, and management reiterates 2024 guidance while highlighting downside risks from regulatory and market factors.