Fuel operator MOL Group has noted that its non-fuel margins – from gastronomy, grocery, and non-food sales – saw a ‘continuing improvement’ in the first quarter of its financial year.
The group’s Consumer Services division, which operates its forecourt estate, continued to open new Fresh Corner sites in the period, with the number of locations rising to 1,260, from 1,172 in the corresponding period last year.
It also noted that one-off gains on remedy sales of fuel stations contributed positively to its quarterly results.
Fuel Volumes
Fuel sales volumes increased by 6%, year on year, the group noted, while the unit fuel margin fell by 2% in the period.
On a group level, MOL reported $382 million (€354.4 million) in profit before tax in the first quarter of its financial year, as well as generating $402 million (€372.3 million) in free cash flow – 22% lower than in the same period the previous year.
‘Resilient’ Business Model
“MOL Group’s financial results once again demonstrated the effectiveness of our resilient business model,” commented chairman-CEO Zsolt Hernádi. “While coping with the challenges of the external environment, we were able to deliver solid results.
“Our stability is key to strengthen Central and Eastern Europe’s security of supply and delivery of strategic investments, like the soon-to-be-inaugurated €1.3 billion polyol complex.”
Investment Plans
The group noted that in March, it outlined what Hernádi describes as an “ambitious investment agenda” to increase the competitiveness of its own operations, as well as the wider industry in the CEE region.
“Despite the extra-heavy government levies weighed on our performance, we remain committed to continue our energy transition journey and develop our self-sufficiency further on,” Hernádi said.
