MOL books HUF 68.6 bln loss in Q4 due to lower oil prices
Hungarian oil and gas company MOL saw a net loss of HUF 68.6 bln in Q4 last year as revenue fell due to lowering oil prices, a consolidated IFRS report published today reveals.
Revenue fell by a year-on-year 16% to HUF 1.173 trillion, while operating costs fell only by 10% to HUF 1.3 trillion, putting MOL HUF 129.1 bln in the red at operating level. The report says that earnings per share came to negative HUF 778 for the period.
The report added that positive effects of higher production and the stronger USD against HUF were offset by the lower realized oil price.
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