MOL books HUF 185.9 bln Q2 net income

Figures

Hungarian oil and gas company MOL booked consolidated second-quarter net income of HUF 185.9 billion in an earnings report published on the website of the Budapest Stock Exchange, improving from a HUF 41.5 bln loss in the base period, when pandemic lockdowns and low oil prices weighed.

Revenue increased 77% to almost HUF 1.438 trillion as eased pandemic restrictions lifted downstream and consumer services turnover and upstream turnover climbed on higher oil prices. Net revenue from the downstream business rose 85% to just above HUF 1.256 tln and turnover from consumer services increased 54% to HUF 464 bln. 

Upstream revenue jumped 110% to HUF 154.4 bln. The cost of raw materials and consumables rose 89% to about HUF 1.061 tln. Operating profit reached HUF 148.7 bln, improving from an HUF 8.1 bln loss in the base period. Earnings per share came to HUF 265.

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