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Retail

MOL Group Reports EBITDA Growth In Consumer Services Division

By Steve Wynne-Jones
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MOL Group Reports EBITDA Growth In Consumer Services Division

Fuel operator MOL Group reported a 61% increase in EBITDA in its Consumer Services division – which includes its Fresh Corner and Gastro forecourt operations – in the fourth quarter of 2023.

The group reported EBITDA of $144 million in the division, which, it noted, was on the back of an ‘outstanding performance’ that enabled the ‘steady improvement of margins’. The lifting of price cap regimes on fuel in Hungary and Croatia also helped lift its performance.

Fuel volumes went up by 10% in the quarter, compared to the corresponding period in 2022, following the addition of the Lotos portfolio in Poland and OMV Slovenia network to its regional portfolio.

Non-Fuel Operations

Margins went up by just under a third (32%) in the group’s non-fuel operations, boosted by strong gastro and grocery sales.

The number of coffees sold increased by 20%, accompanied by a 48% rise in the number of hot dogs purchased by customers, while sandwich sales experienced a 52% increase, MOL Group noted.

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‘Besides the strong offer line-up, the upward trend was aided by the steady expansion of digital discounts and the MOL MOVE loyalty scheme, and the ongoing integration of the expanded network in Poland and Slovenia into the Fresh Corner and Gastro concepts,’ the company noted in a statement.

Group Performance

On a group level, the company reported a 37% decrease in profit before tax in full-year 2023, compared to 2022, amounting to $1.936 billion, citing factors such as geopolitical tensions, a volatile industry and macro environment, and unpredictable tax policies and government levies.

Commenting on its performance, chairman and CEO Zsolt Hernádi said that MOL Group’s “outstanding operational and cost efficiencies and cautious investment policies [...] have been able to offset the impacts of the external environment. The challenges we faced in 2023 only made us more determined to succeed, raising our ambition to venture into new territory: the addition of waste management to our portfolio has strengthened our integrated business model and provides the perfect foundation and momentum for us to grow and evolve.

“We continue our journey of smart transition, contributing to both sustainability and competitiveness at the same time.”

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