Consolidated first-quarter after-tax profit of Hungarian oil and gas company MOL rose 47% year-on-year to USD 412 million, with all of MOL’s business segments improving their performance, MTI writes, citing an earnings report by the company.
Net sales revenue edged down 1% to USD 5.646 bln.
EBITDA, at current cost of supply and adjusted for one-offs, increased 16% to USD 833 mln, MOL said in a press release with the report.
Clean CSS upstream EBITDA rose 15% to USD 317 mln, as production remained at high levels and gas prices increased.
Downstream EBITDA inched up 2% to USD 300 mln as refinery margins narrowed but capacity utilisation improved. Consumer services EBITDA climbed 10% to USD 158 mln, lifted by both fuel and non-fuel sales.
“All key business segments improved their performance despite the economic slowdown, jointly contributing to MOL Group’s resilient results amidst macroeconomic headwinds, driven by strong upstream performance, steady downstream operations, growing consumer services, and stable delivery in circular economy services despite continued challenges,” the company said in a press release.