MOL Group’s EBITDA Increased by 30pct in Q1 2010

MOL Group’s EBITDA, excluding special items, increased by 30pct to HUF 130.4 billion in Q1 2010 compared to Q4 2009.

At the same time, operating profits, excluding special items, more than doubled as a result of the gradually improving external environment and increasing efficiencies in the Group. Profitability increased among all businesses: Upstream improved by 36pct on increasing hydrocarbon prices and a more favorable production mix; Gas & Power increased by 51pct, also including the contribution of the gas storage and power business.
Downstream almost broke even, despite record high retail prices; losses in petrochemicals also decreased.

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