Earnings release
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EN / HU 20 Feb 2026 STRONG DOWNSTREAM AND CONSUMER SERVICES SUPPORTED MOL GROUP RESULTS IN THE FOURTH QUARTER OF 2025 Upstream performance decreased with slight production growth amid adverse external environment Downstream showed year-on-year growth in the fourth quarter, as strong refining margins more than offset the impact of lower crude processing volumes Consumer Services results were supported by one-off items as well as organic growth. Circular Economy performance was supported by seasonality, favorable external effects and internal efficiency efforts Profit before tax reached USD 1.3 billion in 2025, representing 11% decrease compared to 2024 MOL sets 2026 profit before tax guidance at around USD 1.5 billion. Budapest, 20 February 2026 – Today, MOL Group disclosed its financial results for the full year as well as the fourth quarter of 2025. A more challenging macroeconomic and price environment weighed on Upstream performance, while strong Downstream and Consumer Services results supported overall profitability. Profit before tax reached USD 1.3 billion in 2025, representing a change of 11% decrease compared to 2024. Chairman and CEO Zsolt Hernádi commented the results: “The strong financial results of 2025 confirm that MOL Group can deliver value even under increasingly difficult conditions. In a year marked by supply disruptions, geopolitical uncertainty and operational challenges, MOL ensured continuous operation and energy security across the region. I am very pleased to see the further improvement of our internal efficiency, especially in the Circular Economy business. In the last quarter of 2025, we also reached several important milestones: we decided to transition to a holding structure, further strengthened our renewable portfolio in Hungary, and our hydrocarbon production neared 100 mboepd, reflecting the resilience of our integrated business model. At the same time, the fire at the Danube Refinery and the serial outages of the Druzhba pipeline once again highlighted the challenges of energy supply in landlocked countries. Recent events highlighted again that our energy sovereignty depends on the diversity of our crude resources, at least two commercially viable transportation routes and on the cooperation with Governments who understand the interest of the region. We are even more determined to stand up for the interests of the region and we will do everything to keep all our options open to maximize our freedom of choice. And this is for maintaining the region's security of supply ecosystem.” Downstream performance benefited from a strong refining environment resulting in better-than-expected results. Favorable external conditions supported refining margins, which more than offset the impact of lower processed volumes and the weaker year-on-year performance of petrochemicals. Upstream results were negatively impacted by a lower price environment, as the decline in oil and gas prices more than offset the positive quarter- on-quarter volume trend. Higher production levels were supported by increased output in Central and Eastern Europe and in the Kurdistan region of Iraq. Total hydrocarbon production surpassed 99.4 mboepd in Q4 2025. For the full year, production averaged 94.7 mboepd, surpassing the annual guidance of 92-94 mboepd. Looking into 2026, production is seen set to increase further, to 95-97 mboepd. Consumer Services keeps its upward trend and the results were driven by one-off factors and growth on both the fuel and non-fuel sides of the business. Fuel margins strengthened overall, supported by strong performance in Croatia and Romania, while non-fuel margins made a positive contribution to Q4 2025 results. Results were further supported by a favorable foreign exchange effect following the appreciation of the Hungarian forint. Growth in both sales and margins was supported by the continued rollout of the Fresh Corner brand, with the number of units reaching 1,409 by the end of Q4 2025, up 2.7% quarter on quarter and 6% year on year. Non-fuel margin represented 35.6% of total margin in Q4 2025. Circular Economy Services delivered a positive contribution to Q4 2025 results, driven by seasonality, favorable external effects and internal efficiency efforts. The Deposit Refund Scheme set-up was largely completed during the year, with redemption available at nearly 5,300 locations, and two bulk-feed machines put into operation in 2025. In its first full year of operation, the beverage packaging return ratio reached 88.8%, with around 3 billion containers collected. Gas Midstream performance remained flat year on year, as higher transmission demand was offset by lower regulated tariffs. External conditions were slightly less favorable than a year ago, while transmitted volumes remained strong throughout the period. About MOL Group MOL Group is an international, integrated oil, gas, petrochemicals and consumer retail company, headquartered in Budapest, Hungary. It is active in over 30 countries with a dynamic international 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 Croatia, and owns a network of almost 2400 service stations across 10 countries in Central & South-Eastern Europe. MOL’s exploration and production activities are supported by more than 85 years’ experience in the field of hydrocarbons and 30 years in the injection of CO2. At the moment, there are production activities in 8 countries and exploration assets in 10 countries.
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MOL is committed to transform its traditional fossil-fuel-based operations 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: @: pressoffice@mol.hu tests ABOUT US C OMP ANY O VERVIEW BO ARD OF DIRECT ORS SUPERVISORY BO ARD PRIV A CY STRA TEGY PUBLICA TIONS ANNU AL REPORTS SUST AINABILITY REPORT C ODE OF ETHICS SHARE INFORMA TION SL O VNAFT SQUEEZE OUT SERVICES PRESS RELEASES INVEST OR NEWS SPEAK-UP! C ONT A CT US SITEMAP COOKIES USED ON THE WEBSITE © MOL GROUP ALL RIGHTS RESERVED