MOL exceeds market expectation in Q3 2024 at the level of Clean CCS-based EBITDA
Key Message The company’s Clean CCS EBITDA reached USD 847 mn in Q3 2024,
representing a 3% increase QoQ and a 13% decrease YoY, with the prior year
impacted by additional taxes. Positive contributions stemmed from seasonal
strength in consumer services, higher refined product sales, and slight
improvements in waste management and upstream production, while normalizing
refining margins, a turnaround-intensive period in downstream, and weak
petrochemicals performance impacted the results negatively.
The company exceeded market expectations, primarily due to significantly lower
headquarters overhead reported in the period and stronger waste management
performance compared to the previous quarter.
Magyar Olaj-Es Gazipari is an integrated oil and gas enterprise based in Hungary and active in central and eastern Europe. Co.'s core activities include: exploration and production of crude oil, natural gas and gas products; refining, transportation, storage and distribution of crude oil products in both retail and wholesale markets; importation, transportation, storage and wholesale trading of natural gas and other gas products; and the production and sale of olefins and polyolefins. TVK, the petrochemical affiliate of Co., is an olefin and polyolefin producer in Hungary.
Concorde Securities Ltd. is Hungary’s leading independent company engaged in investment banking activities. It provides its clients with integrated financial services, including securities trading, research, corporate financing advisory, capital market transactions, wealth management and investment advisory. The operational management of the company is the responsibility of the CEO, while the owners/managers (who control one-third of the company through their shares and options) are in charge of its strategic governance. Concorde Securities Ltd. is a member of the Budapest, Frankfurt, Warsaw and Bucharest stock exchanges, as well as of the Hungarian Association of Investment Service Providers.
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