In the first half of 2024, Magyar Telekom's revenue totaled almost HUF 465B (EUR 1.17B).Continue reading
MOL Group reported a strong financial performance in the second quarter of the year, with adjusted EBITDA reaching USD 825M, doubling from the previous year and increasing by 15% from the previous quarter.
Net sales rose to USD 6,524M, while operating profit climbed to USD 543M, up from USD 206M in the same period last year. MOL’s stock closed at HUF 2,750 (EUR 6.95) on Thursday, with a 52-week high of HUF 3,090 (EUR 7.81) and a low of HUF 2,632 (EUR 6.65).
The company’s upstream and downstream businesses delivered robust results, supported by strong refinery demand, slightly higher hydrocarbon prices, and increased fuel sales volumes.
The exploration and production segment also saw improved EBITDA due to a flexible production model and rising hydrocarbon prices. However, the Circular Economy Services segment recorded a loss of USD 10 million.
Zsolt Hernádi, MOL’s CEO, emphasized the company’s commitment to ensuring supply security in the region by diversifying oil procurement and enhancing refinery flexibility. He stated,
we are under pressure from various directions…yet remain dedicated to our long-term strategy to deliver returns and create value for shareholders.”
Despite regulatory and governmental challenges in Central Europe, MOL continues to deliver stable performance in a volatile market. Looking ahead, the company is likely to maintain its focus on diversification and transformation to navigate the unpredictable environment and sustain its financial growth.
Via MTI; Featured Image: molgroup.info