Earnings release
Page 1
Press release MOL Group posted strong Q3 results, however in the light of the new challenges the 2025 EBITDA guidance has been reviewed • MOL Group profit before tax reached USD 503 mn in the third quarter of 2025, remaining flat year-on-year. • Upstream delivered stable results amidst a relaHvely stable external environment. • Downstream’s performance marked an increase in the third quarter, mainly due to refining margins widening considerably. • Consumer Services delivered growth, supported by a strong driving season with beMer price environment in Romania and CroaHa. • Seasonal factors weighed on the performance of Circular Economy Services, leading to negaHve results. Budapest, 7 November 2025 – MOL Group announced its financial results for Q3 2025. The company delivered USD 503 mn profit before tax in the third quarter of 2025, remaining flat year-on-year. Refining strength and fuel retail growth resulted in a good EBITDA performance with Consumer Services remaining on high growth path and Upstream delivering stable results. Chairman-CEO Zsolt Hernádi commented on the results: "We are used to excitement, but even by our standards, we have had an even:ul period behind us. Just think of the sanc@ons affec@ng the oil market, the fire in SzázhalombaGa, or the anomalies surrounding shipments on the Adria pipeline. It is a joy amid so much sorrow that even these challenges—which are demanding to manage—cannot divert MOL Group from its chosen path. Thanks to the commitment of our colleagues, our opera@onal efficiency and our flexibility, we are staying on course, as we closed a strong quarter. However in the light of the new challenges ahead of us we had to review our guidance for this year. In addi@on to all this, we are con@nuing to implement our transforma@on strategy, the most important milestone of which is currently to make our company's legal structure more efficient and to switch to a holding structure that is well established in the interna@onal oil industry. Our shareholders will decide on this at our extraordinary general mee@ng convened for November 27. Amidst our many tasks, we must also take @me to remember, as this year marks the 60th anniversary of the Danube Refinery and our Algyő oil and gas field, and there is also cause for celebra@on in our Consumer Services business. Ten years ago, we launched our Fresh Corner network, which has grown into the largest café chain in the region, with nearly 1,400 stores and more than 180 thousand cups of coffee sold every day on average. All this clearly shows that MOL is capable of growing and developing under any circumstances.” Upstream delivered stable results amidst a relaCvely stable external environment. ProducCon decreased to an average 92.3 mboepd in Q3 2025, near the boKom end of the annual guidance band of 92-94 mboepd, mainly due to temporary outages in Hungary. The short-term outlook points towards improvement as producCon increased to 98.4 mboepd in October. Meanwhile, crude exports from the Kurdistan Region of Iraq restarted to Turkey, and the ‘KM250’ gas expansion project was completed at the Khor Mor facility also in the Kurdistan Region of Iraq. Downstream performance improved in Q3 2025 due to a favourable refining environment, mainly because refining margins widened by close to 6 dollars per barrel. Processed volumes were seasonally low due to regular annual maintenance scheduled for Q3, while sales volumes remained flat year-on-year. As the petrochemicals environment showed no improvement, the performance of petrochemicals
Page 2
Press release sCll remained below breakeven. A^er the October fire incident in the Danube Refinery, units not affected in the fire have been successfully restarted and the damage assessment is sCll ongoing. The Consumer Services segment delivered a posiCve performance in Q3 2025, remaining on a high growth path. Results were supported by a solid driving season and strong fuel sales, with fuel margins strengthening due to the beKer pricing environment in CroaCa and Romania. The dynamics of non-fuel expansion is holding up well. Amid wage and inflaConary pressure, OPEX growth weighed on the results, while a posiCve one-off effect year-on-year originated from the merger in fleet services. Circular Economy Services reported negaCve performance impacted by strong seasonality in the third quarter of the year, due to extensive DRS redempCon acCvity with lower revenues; and secondary raw material sales also decreased. The impact of posiCve regulatory changes in the EPR system along with efficiency improvement measures, is expected to gain tracCon in the coming quarters. Gas Midstream results deteriorated compared to last year as a result of shi^ing macroeconomic factors and regulated tariff levels, despite the strong regional transmission demand. About MOL Group MOL Group is an interna0onal, integrated oil, gas, petrochemicals and consumer retail company, headquartered in Budapest, Hungary. It is ac0ve in over 30 countries with a dynamic interna0onal workforce of 25,000 people and a track record of more than 100 years. MOL Group operates three refineries and two petrochemical plants under integrated supply chain-management in Hungary, Slovakia and Croa0a, and owns a network of almost 2400 service sta0ons across 10 countries in Central & South-Eastern Europe. MOL’s explora0on and produc0on ac0vi0es are supported by more than 85 years’ experience in the field of hydrocarbons, and there are produc0on ac0vi0es in 8 countries and explora0on assets in 9 countries. MOL is commiSed to transform its tradi0onal fossil-fuel-based opera0ons into a low-carbon, sustainable business model and aspires to become net carbon neutral by 2050 while shaping the low-carbon circular economy in Central and Eastern Europe. Press contact: @: interna0onalpress@mol.hu