MOL - Again strong earnings, guidance lift, yet no update on special dividend
MOL beat the consensus on all lines, clean CCS EBITDA and profit came above
consensus by 7% and 8% respectively mainly because of better than expected DS and
(+6% vs. cons) Consumer Service (+3% vs. cons), while higher than expected fin.
Expenses lowered the magnitude of earnings gain for the bottom-line. Excluding nonrecurring we ended up with an adjusted EPS of 190.8, and a 9M reported EPS of 585.
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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