WOOD Flash – MOL: 2021-25E strategy update
MOL held a capital markets day yesterday (24 February), which was focused on updating its long-term strategy – in particular, the reduction of the carbon intensity of the business and further steps towards a move from fuels to chemicals. For 2021-25E, management gave detailed guidance on the expected EBITDA, FCF and investments. According to the guidance, both the Polyol and Delayed coker investments will be completed in the period, consumer services will grow 10% per year, and upstream will maintain 90-110kboe/day over the period. Management expects to maintain FCF, after paying dividends, of about USD 1.3bn during the period. In the longer term, Scope 1&2 CO2 emissions are to fall by 20%, by 2030E.
WOOD & Company is the leading investment bank in Emerging Europe. Founded in 1991 and head-quartered in Prague, our footprint spans the region and touches investors around the globe.
A pioneer in Emerging Europe, WOOD executed many of the first CEE equity trades and landmark investment banking transactions. Our electronic trading platform was the first in the region, and remains the best. We are continually expanding our relevance and reach in these ever-evolving markets.
Our equity market share reflects our stature: 7% in Warsaw, 20% in Bucharest, 16% in Hungary, 40% in Prague and 5% in Vienna. Our distribution is unparalleled, with the largest salesforce in the region, servicing a uniquely diverse investor base.
We couple local expertise with a truly international perspective. With offices on the ground in the region, and in key financial hubs such as London and Milano, we are never far from our clients and we remain at the forefront of what’s afoot in the CEE emerging and frontier landscape.
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