Record High EBITDA in 2021 at MOL Group

MOL Group has announced its financial results for Q4 and full year 2021. In a very volatile external environment, MOL Group generated USD 947mn Clean CCS EBITDA in Q4, bringing full-year clean CCS EBITDA to an all-time high USD 3.531 bn, above the updated guidance.

Simplified free cash flow tripled since last year and amounted to USD 1,988mn, mainly driven by the favorable oil and gas prices and refinery/petrochemical margins. This result allows MOL to fund its ongoing and planned transformational projects. MOL expects 2022 EBITDA at around USD 2.8bn.

Chairman-CEO Zsolt Hernádi commented the results as saying that “I am proud that MOL Group significantly outperformed the upgraded guidance and delivered an all-time high EBITDA of USD 3.5 bn in 2021. Due to MOL’s integrated business model and the good internal performance we were able to maximize the benefits from the external environment, allowing us to fund our transformational investments. Despite the operational challenges we continued our strategic transformational journey that we accelerated with the Shape Tomorrow 2030+ Strategy update one year ago. The construction of the new polyol complex proceeded according to plan and we also took inorganic steps to strengthen our Consumer Services portfolio in Poland and Slovenia. We expect that the external environment would remain volatile and unpredictable in 2022. Against this macro backdrop we expect MOL’s EBITDA generation to reach or even exceed USD 2.8bn this year.”