MOL books HUF 185.9 bln Q2 net income
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.
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.