Subscribe Login
DE4CC0DE-5FC3-4494-BCBF-4D50B00366B5
Retail

MOL Group Sees Profits Drop In Consumer Services Division

Fuel operator MOL Group has reported a 44% decline in EBITDA in its Consumer Services division in the first quarter of the year.

The division, which includes the group's forecourt arm – MOL Group operates a network of more than 2,000 service stations in the CEE region – said that the EBITDA impact was driven by fuel price regulatory measures in Hungary, Croatia, Serbia, Slovenia and Bosnia and Herzegovina.

Non-fuel margins in the division increased 8% year-on-year, supported mainly by the group's grocery, gastro and hot dog sales, it said.

Fresh Corner

The number of Fresh Corner retail outlets operated by the group increased to 1,081 in the first quarter, up from 984 in the same period last year.

In January of this year, MOL signed a set of agreements with Grupa Lotos SA and PKN Orlen, which led to the acquisition of 417 service stations in Poland, taking the company to third position in the local fuel retail market.

On a broader level, the company said that a 'robust' EBITDA performance was driven by its upstream business, with its downstream business impacted by by 'volatile and controversial macro and price effects'.

'Transformation Journey'

"MOL is in the middle of a transformation journey which requires heavy investments," commented Chairman-CEO Zsolt Hernádi.

"We are very much committed to continue this process in the current volatile environment too. MOL Group has shown resilience during several crises in the past and I am confident that we will maintain our crucial role in providing a predictable energy supply and remain a trusted partner of our customers, stakeholders and the wider society.”

Read More: On The Road – ESM Meets MOL Group's Peter Ratatics

© 2022 European Supermarket Magazine – your source for the latest Retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.

Stay Connected With Our Weekly Newsletter

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our Terms & Conditions and Privacy Policy
Enjoy unlimited digital access for 30 days
Get exclusive access to the latest grocery retail & FMCG news, interviews with industry leading executives, and expert analysis on the trends shaping the sector today
Enjoy unlimited digital access for 30 days
Enjoy unlimited digital access for 30 days
Get exclusive access to the latest grocery retail & FMCG news, interviews with industry leading executives, and expert analysis on the trends shaping the sector today
Enjoy unlimited digital access for 30 days