MOL' FCF generation looks as resilient as it gets - Earnings Reviews f...

MOL has presented its new earnings and production guidance for the years between 2019 and 2023. Accordingly, MOL expects clean CCS EBITDA at USD 2.2-2.4 bln for 2019-21 (10% higher than earlier) and USD 2.4-2.6 bln for 2022-23 based on crude oil price of USD 60-70/bbl and refining margin of USD 4-5/bbl on average by 2023. MOL indicated that base dividend may increase at a rate of 8-10% in the forthcoming years from HUF 85 paid for 2017. Special dividend payments, if any, will depend on forward-...