ADVERTISEMENT

Analysts forecast sharp rise in MOL Q2 earnings

Food

According to a Portfolio.hu poll, analysts estimate a considerable rise in profits in Q2 for MOL. Based on the consensus, the nice performance was attributable primarily to upstream that was driven by rising crude prices.

The biggest impact on MOL’s numbers were oil prices and production. The quarterly average price of crude rose 50% yr/yr. MOL’s hydrocarbon production rose to 151,000 barrel per day in Q1, which - in view of the annual plans - was probably maintained in April-June, as well.

The forint exchange rate was practically flat versus both the euro and the US dollar in Q2 therefore it had no major impact on the group’s FX-based debt and gearing indicators. But as a result of the expected rise in EBITDA (earnings before interest, taxes, depreciation and amortisation) the net debt/EBITDA ratio likely dropped further, which has been in a clearly positive trend.


ADVERTISEMENT

Czech economic confidence weakens in November Analysis

Czech economic confidence weakens in November

Lawmakers approve residency permit for digital nomads Parliament

Lawmakers approve residency permit for digital nomads

The strongest move - Morgan Stanley Hungary head and Chess F... Podcasts

The strongest move - Morgan Stanley Hungary head and Chess F...

New Jewish cultural hub opens in Budapest City

New Jewish cultural hub opens in Budapest

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.