MOL Q3 Earnings Double

Figures

Third-quarter net income of Hungarian oil and gas company MOL rose 109% year-on-year to HUF 290.6 billion, parallel with a marked increase in revenue, an earnings report released ahead of the opening bell on Friday shows, according to a report by state news wire MTI.

Total operating revenue rose 78% to HUF 2.892 trillion.

The cost of raw materials and consumables increased 88% to HUF 2.237 tln, but total operating costs rose a more moderate 69% to HUF 2.447 tln.

Operating profit climbed 149% to HUF 445 bln.

Basic earnings per share came to HUF 428 for the period.

Net revenue of MOL's downstream business rose 82% to HUF 2.687 tln and the segment's EBITDA climbed 127% to HUF 287 bln.

Net turnover of the upstream business jumped 191% to HUF 410.5 bln and its EBITDA increased 163% to HUF 256.4 bln.

Net sales of the consumer services business rose 67% to HUF 956.2 bln but its EBITDA fell 24% to HUF 48.3 bln.

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