Slovnaft posts loss for 2014

Telco

Hungarian oil and gas company MOL's Slovakian unit, the Slovnaft refinery, yesterday posted a loss of €71 mln for last year, following a net profit of €35 mln in 2013. 

Excluding special items, the net loss was €50 mln after a profit of €30 mln in 2013, Slovnaft's unaudited consolidated IFRS financial statement showed. Among one-offs Slovnaft highlighted the sale of state reserves in its subsidiary SLOVNAFT POLSKA S.A. in 2013 which had a positive effect on its bottom line of €9.3 mln, and a revenue in 2014 from liquidated damages in the subsidiary CM Power Slovakia in the amount of €8.8 mln.

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