Solid Group-Wide Performance at MOL Group in Q1

MOL Group announced its financial results for the first quarter of 2025. MOL Group delivered USD 546 mn Profit before tax in Q1 2025, an increase of 23% year-on-year, the oil and gas company has announced on the website of the Budapest Stock Exchange.

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.

Chairman-CEO Zsolt Hernádi commented on the results by stating that “in a period marked by geopoli5cal tensions and economic transforma5on, we managed to deliver stable performance. The good news is that our posi5ve results were primarily driven by improved internal performance across nearly all our business segments. This provides a solid founda5on for overcoming future challenges, as I expect similarly turbulent and uncertain 5mes ahead. To navigate these challenges, we follow the proven MOL formula: fiscal discipline, smart investments, diversifica5on, an integrated opera5ng model, and the consistent execu5on of our strategic goals. There are no zigzags – our focus remains firmly on efficiency and enhancing internal performance, without compromise, in order to strengthen our compe55veness. Our objec5ve remains unchanged: to create value for our shareholders in the short term, and to build a future-proof MOL Group in the long term."

Upstream results improved quarter-on-quarter, supported by higher gas prices. Production averaged 93 Thousand Barrels of Oil Equivalent Per Day (or mboepd), in the middle of the guidance range of 92-94 mboepd, slightly lower than in the previous quarter reflecting lower production in Central and Eastern Europe. At the same time, portfolio development continued in Hungary, with the Endrőd asset acquisition successfully closed and the Som8 well entering production.

The good news is that the Downstream segment's result slightly improved year-on-year, despite lower refining margins and the overall challenging environment for the business. These negative factors were offset by higher processed volumes and increased own sales – partly due to the heavy turnarounds in the base period – as well as better capacity utilization. While the petrochemicals benefited from a recovery in sales volumes, it remained loss-making, reflecting the continued challenges of the market environment. Brent-based refining margins stabilized around long-term averages, but petrochemical margins remained weak.

Consumer Services delivered continued growth, driven by both fuel and non-fuel contributions, despite signs of a more challenging macroeconomic environment. Fuel sales strengthened on the Romanian and Croatian markets. Non-fuel margin growth dynamics moderated compared to last year, but the underlying trends remained positive. The Fresh Corner network continued to expand, reaching 1,341 units by the end of Q1 2025, marking a 1% increase quarter-on-quarter and 6% year-on-year.

Circular Economy Services delivered a positive EBITDA contribution in Q1 2025, driven mainly by one-off items. CAPEX efforts remained focused on scaling up the Deposit Return System (DRS), with more than 4800 locations, now operational and beverage packaging returns growing by 10% quarter-on-quarter, reaching approximately 6.5 million units per day. Progress also continued on other key infrastructure projects, including the construction of the next wasteyard in Komárom (with eight more in the pipeline), and preparatory works and tendering for the waste-to-energy project are also ongoing.