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Fuel Operator MOL Group Reports 'Strongest Quarter Ever'

The lifting of coronavirus restrictions helped boost revenues and EBITDA at Hungarian fuel operator MOL Group in Q2, which the group said was its 'strongest quarter ever'.

The group's Consumer Services division, which includes its forecourt operations, saw total sales volumes rise 25% in the quarter, following the easing of travel restrictions.

EBITDA in the division increased by 48% year-on-year to $164 million (€138.7 million), an 'all-time high', MOL Group said.

'The easing of pandemic-related lockdowns and restrictions in MOL’s core CEE countries had a positive effect on sales volumes and non-fuel margin,' it noted.

Non-fuel margins increased by more than a third (34%) in the quarter, boosted by the group's 'broad category range' in the Hungarian, Romanian, Czech and Slovakian markets.

The group also increased the number of Fresh Corner convenience outlets it operates, from 984 to 1,008.

During the quarter, MOL Group, along with subsidiary INA, announced the acquisition of OMV Slovenia, which includes 120 service stations and a wholesale operation.

At a group level, the group posted EBITDA of $1.56 billion in the second quarter.

'Strongest Quarter'

“I am very proud to announce that we posted the strongest quarter in MOL Group’s history," commented chairman and chief executive Zsolt Hernádi. "Our resilient integrated business model not only managed to successfully navigate the challenges posed by COVID, but also captured the strong commodity cycle we are experiencing.

"Looking ahead, I am very pleased with the progress we are making on key projects as we execute our strategic plans on our path towards 2030 and beyond.”

MOL Group operates a network of close to 2,000 service stations across 10 countries in Central and South Eastern Europe.

© 2021 European Supermarket Magazine. Article by Stephen Wynne-Jones. For more Retail news, click here. Click subscribe to sign up to ESM: European Supermarket Magazine.

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