Hungary-based Mol says downstream division delivers “strongest ever first quarter”
Hungary-based Mol Group said on May 8 that its downstream division delivered its strongest ever first quarter result with earnings before interest, taxes and depreciation of about US $270 million which is more than three times as high as in the same period last year.
“Downstream achieved its strongest ever first quarter result, which highlights that we are well positioned to benefit from favorable market conditions,” the company said.
“We will deliver on our long-term promise to increase profitability by an additional US$ 500 million from internal sources by 2017. In order to achieve this, more than 150 separate initiatives have already been commenced since the beginning of the year,” said chairman-CEO Zsolt Hernádi.