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2019-03-04 MOL Group Looks For Top Graduates To Apply For Its Growww 2019 Program

  • Application is now open until 28 April 2019 at info/growww
  • Growww is MOL Group’s flagship talent acquisition program for fresh graduates interested to kick-start their careers in the leading multinational company in CEE
  • Since 2007, more than 2,100 talented individuals from all around the world joined MOL as part of the program, with the best-in-class retention rate of almost 80% in 2018

Budapest, 4 March 2019 – Today, MOL Group announced a call for applications for the next edition of its award-winning talent acquisition program, Growww 2019, which offers fresh graduates a unique opportunity to kick-start their career in one of the largest corporations in Central Eastern Europe. Through the program MOL aims to develop a new generation of industry experts, offering them an opportunity to learn and solve real-life business challenges while working in one of the most complex industries.

MOL Group opens over 140 positions in the areas of engineering, business, IT as well as social and natural sciences. Candidates with up to one year working experience can apply for positions both at the Headquarters in Budapest and in MOL Group’s local subsidiaries in ten countries: Austria, Croatia, Czech Republic, Hungary, Italy, Norway, Poland, Romania, Slovakia and Slovenia.

This intensive one-year program offers a possibility to gain insight into the operations of MOL Group across all business and functional areas. On top of the on-the-job learning and visits to various MOL’s industrial sites, young professionals have a possibility to gain industry-specific knowledge through structured business education program, which is also an excellent opportunity to network with company’s top executives and make professional relationships. Each participant is supported by a mentor who provides professional guidance and feedback as well as helps adapt to a dynamic, multicultural working environment.

“Since the 2007 launch of the Growww program, we are receiving year on year over six thousand applications; we hired over two thousand Growwwers, at the same time maintaining a strong, 80% retention rate. For me personally, this continuous popularity of our flagship talent acquisition program is another proof that MOL is one of the most attractive employers in the CEE region. As a global company, we give young people the freedom to think big and the capability to bring these ideas to life. Since we embarked on our strategic business transformation, I believe that nurturing this innovative spirit is more important than ever to future-proof our company for the years to come.” – said Zdravka Demeter Bubalo, HR Vice President at MOL Group.

Over the last decade the Growww program has gained wide international recognition and became a real industry trademark, with the best-in-class retention rate of almost 80%. At the same time, the female representation among those hired reached 40% last year, well above the Oil & Gas industry average.

For more information about Growww 2019, please visit: molgroup.info/growww

2019-02-22 MOL Group 2018 Results: Highest EBITDA since 2011

  • Clean CCS EBITDA reached USD 2.69bn, up 10% versus previous year
  • Upstream’s contribution jumped by 49% y-o-y, Consumer Services increased by 18%
  • Net profit reached again USD 1.1bn, equaling previous year’s result

Budapest, 22 February 2019 – Today, MOL Group announced its financial results for 2018. MOL increased its EBITDA by 10% comfortably beating its upgraded 2018 target as Upstream and Consumer Services continued to significantly increase their contributions, while a strong internal performance in Downstream partly offset the weakening margins.

Clean CCS EBITDA rose by 16% in the last quarter compared with Q4 2017 resulting in an EBITDA of $2.69bn for 2018. This represents a 10% increase versus 2017 and is significantly above the target. MOL continued its strong free cash flow generation at USD 1.4bn with Upstream generating nearly 70% of that.

Upstream EBITDA was the Group’s largest contributor in 2018 with USD 1.269bn. This is an increase of 49% on the back of higher oil & gas prices and the contribution of high-margin barrels from the UK’s Catcher field. As production of Catcher reached plateau, total daily production of the Upstream portfolio in the fourth quarter averaged 115 thousand barrels of oil equivalent, bringing the full year average to 111 thousand.

Downstream Clean CCS EBITDA reached USD 995mn for the year. The decline of 16% is primarily due to lower refining and significantly lower petrochemical margins. A stronger internal performance – the successful delivery of USD 110mn efficiency improvements of the DS 2022 program – and higher volumes could only partly offset the weakening margin environment.

Consumer Services EBITDA continued its double-digit growth to new all-time highs. In 2018 EBITDA reached USD 423mn, up by 18% from the previous year, driven by the dynamic expansion of non-fuel margin while also supported by healthy fuel market trends. Non-fuel margin per site grew 15% annually in the past four years on average.

The Gas Midstream segment reached USD 189mn EBITDA in 2018, 15% lower than a year ago due to tariff changes and rising energy cost.
Chairman-CEO Zsolt Hernádi commented on the results: “2018 was another year of very strong delivery with the highest EBITDA in 7 years, and it was also a year of continued transformation, including the final investment decision on the polyol project. Upstream generated nearly USD 1bn free cash flow and increased its production, Downstream had robust profitability despite weaker refinery and petchem margins and achieved further considerable efficiency improvement, while Consumer Services maintained its double-digit EBITDA growth and launched various new innovative services. We have very strong foundations - a robust balance sheet on the back of several years of strong free cash flow generation, a resilient, integrated business model and a talented and dedicated workforce - to look into 2019 with optimism. We expect to deliver around USD 2.3bn EBITDA this year, assuming a more conservative downstream environment and a Brent crude price an around USD 60/bbl. This shall provide us enough cash flow to cover the increasing investments into our major transformational projects.”

2019-02-12 MOL and Total joined forces to extend their fuel cards acceptance network in Europe

  • The agreement provides for the extension of MOL Group’s fuel card acceptance network with around 4,000 stations in five Western European countries
  • From February 2019, MOL Group Cards are accepted in Total’s network in France, Belgium, Luxembourg, The Netherlands and Germany
  • Providing a smooth and convenient card usage for B2B customers is in line MOL Group’s vision of the 2030 strategy to become the first choice of customers

Budapest, 12 February 2019 – MOL and Total signed an agreement which will make travelling across Europe easier for their corporate customers. The agreement provides for acceptance of MOL Group Cards by Total in its network of stations in France, Belgium, Luxembourg, The Netherlands and Germany. At the same time, the Total fuel cards will be accepted in the MOL’s and Slovnaft’s network of stations in Hungary, Romania, Slovenia and Slovakia.

As a first step, starting from February 2019, Total fuel cards are accepted in MOL’s network in Hungary and Romania. MOL Group Cards’ owners are able to benefit in return from the acceptance of their cards in Total network in France, Belgium, Luxembourg, The Netherlands and Germany. The roll-out of Total card acceptance to MOL Slovenia and Slovnaft’s network in Slovakia will be finalized over the next months.

As a result of this agreement, MOL Group Cards will be accepted in nearly 7,000 stations in Europe. At the same time, the Total card will be accepted in more than 17,000 points of sales.

“Opening the possibility to use our fuel cards in Western Europe is an important milestone, which will not only help us grow our business, but will also contribute to one of the key objectives of MOL Group 2030 strategy: to become the first choice of our customers.” - commented Zsolt Pethő, Group Downstream Commerce & Optimization Senior Vice President at MOL Group.

 “This agreement strengthens our position in Eastern Europe and completes perfectly our offer. It represents yet another step towards consolidating our strong position on the fuel cards in Europe. Finally, it contributes to one of the Total’s key objectives: to support our customers in their energy choices and to be the partner of their mobility.” - declares Benoît Luc, Total Marketing & Services, Senior Vice President for Europe.

About MOL Group fuel cards

MOL Group fuel cards enable cashless purchase of fuel and related products and services in its wide acceptance network in 10 countries in Europe. This convenient solution for the B2B segment simplifies fleet management and helps reduce its operating costs, while ensuring a full control of expenses. Besides refueling, MOL Group Cards offer a possibility of toll payment in most of European countries, as well as VAT and excise duty refund for purchases abroad.

About Total fuel cards

Total fuels cards facilitate cashless refueling, purchases on service stations, payments towards such systems as tolls, tunnels and bridges. Another great feature of the card is the hassle-free VAT reclaim procedure on transactions made abroad. Total guarantees 24/7 access to roadside assistance in 40 countries across Europe. The card is a proven and effective tool, now available at over 17,000 service stations throughout Europe.

2019-02-04 MOL Group announced winners of the 12th edition of Freshhh competition

  • Freshhh is an international online competition for top students interested in the Oil & Gas industry
  • Through Freshhh MOL aims to further engage with digital natives, offering them compelling potential career paths
  • This year’s edition attracted more than 1,000 teams from over 70 countries around the world, with the French “Road to Buda” and the Dutch “Snelle Planga” teams having tied for the first place

Budapest, 4 February 2019 – Last week, MOL Group held in Hungary Live Final of the 12th edition of the Freshhh competition, its flagship award-winning student contest. Its popularity demonstrates that MOL is considered an attractive employer among the youngest, largely digital generation, and is able to offer compelling career paths also outside the core Oil & Gas industry. The best six international teams - from Croatia, France, the Netherlands and Poland – competed for final prizes, with the French “Road to Buda” and the Dutch “Snelle Planga” teams coming out on top after a challenging battle.

Freshhh is an international online student competition, where participants take charge of managing an integrated oil corporation. Throughout the game, teams consisting of three members have to make day-to-day decisions on oil and gas field development projects, the construction of a refinery, retail network development as well as defining the best product portfolio.

The latest edition attracted applicants from over 70 countries around the world. In total, more than 1,000 teams applied to participate in the Freshhh 2018 competition, which proves that it has truly become a trademark in the industry on the international level. Two rounds of the virtual game were followed by the Live Final, where the participants had an opportunity to assess key pillars of MOL Group 2030 strategy, outlining solutions to potential challenges in each business segment and presenting their ideas on how to attract young talents to the oil & gas industry. Finally, the student teams participated in a challenging debate, which was an opportunity to demonstrate their teamwork, negotiation and public speaking skills.

All teams showed excellent performance, but according to the jury comprising of top MOL managers the French “Road to Buda” and the Dutch “Snelle Planga” teams proved to be the best. The third place went to the French “The Oil’believable” team and a special award to the Croatian “Godot” team. The top three teams won prizes of a total of 25,000 EUR.

“Popularity of the latest edition of Freshhh competition proves once again that MOL grasped the fundamentals of engaging digital natives. I am pleased to see that thanks to our talent acquisition programs young people see MOL as a vibrant and rewarding workplace, which can offer impactful career paths. We continuously rethink and reinvent our programs to stay attractive for new generations, whose fresh and innovative energy is essential for the implementation of our transformational strategy, MOL 2030.” - said Zdravka Demeter Bubalo, HR Vice President of MOL Group.

Since 2007, MOL hired over 120 participants of the Freshhh competition, with many of them being promoted to high-level expert and managerial roles.

Last year’s winners joined MOL as Junior Engineers as part of the so-called Engineer Academy program, and currently work on MOL’s flagship chemical investment. Emánuel Kovács, who was part of the team, commented: “After we won the Freshhh competition, things happened very fast. Last year, our whole team joined MOL as part of the so-called Engineer Academy and we started to work on the company’s largest investment. The Polyol Project is one of the cornerstones of MOL’s petrochemical expansion, the key pillar of MOL 2030 strategy, so it’s really exciting to be involved hands-on in the company’s transformation.”

Read more about Freshhh and Growww.

2018-11-29 MOL Group double win at 2018 Petroleum Economist Awards

  • MOL recognized as the Energy Company of the Year – Mid Cap for its leadership in adapting to the fossil fuel peak demand age.
  • Péter Ratatics won the Future Leader award for its visionary approach to retail transformation.
  • Petroleum Economist Awards is an annual competition honoring leaders in the global energy industry.

Budapest, 29 November 2018 – MOL Group was awarded two recognitions at the 2018 Petroleum Economist Awards, a prestigious annual competition honoring the global energy industry's most successful firms, projects and innovations. The event gathered in London leading companies and executives from the international oil and gas industry.

MOL entered two categories, Future Leader and Energy Company of the Year – Mid Cap. Péter Ratatics, Group Consumer Services EVP, won the Future Leader category, while the company won the category Energy Company of the Year – Mid Cap. Both awards reflected not only the MOL’s professional leadership, but the success of the company and its future vision defined in MOL Group 2030 Strategy.

Energy Company of the Year – Mid Cap was a competitive category with three other important companies being considered. The judging panel were impressed by how MOL has leveraged its position as a market leader setting the pace for a shifting industry. Another aspect for which MOL was recognized was its forward-looking mobility strategy that includes car sharing, electric mobility and solutions for public transport in cities.

Péter Ratatics’ role in leading the development and execution of MOL’s strategic plan to transform the company’s retail business to a broader consumer goods and services provider resulted in him winning the category Future Leader. The key to Péter Ratatics’ success has been his ability to think out of the box and a clear vision of MOL’s future beyond the fuel age.

Other companies boasting success at the awards included Tesla, who won the Cleaner Energy Initiative of the Year Award for their gigafactory in Nevada, being the world's largest lithium ion battery factory. Total won the Energy Company of the Year - Large Cap Award, while ENI received the Exploration Company of the Year Award.

2018-11-08 MOL Group Holds Investor Day in London and Upgrades Mid-Term Targets

  • MOL upgrades its EBITDA target by around 10% to an annual USD 2.2-2.4 bn over 2019-2021
  • Upstream raises production guidance and aims to add 350 million barrels of oil equivalent of new reserves by 2023
  • Downstream transformational projects will boost Group EBITDA to USD 2.4-2.6 bn by 2022-2023
  • Consumer Services is expected to generate over USD 500mn EBITDA by 2023 by satisfying regional mileage demand, boosting consumer goods’ contribution as well as mobility services scale-up

London, November 8, 2018 – Today, MOL held an Investor Day in London to provide a progress report and an update on the strategic targets defined in the “MOL Group 2030” strategy announced two years ago. While retaining its resilient, integrated business model and consistently delivering strong results, MOL has embarked on a journey to transform itself to become a leading chemicals company in CEE and a truly customer centric organization, and to be the first choice of employees, customers and investors.

MOL raised its Clean CCS EBITDA guidance for 2019-21 by around 10% to USD 2.2-2.4 bn on the back of an upgraded mid-term production profile in Upstream and strong Consumer Services contribution. Looking further ahead, in 2022-23 MOL expects to further increase its annual EBITDA to USD 2.4-2.6 bn as the contribution from the Downstream strategic projects, including the investment into polyols, will already be visible.

The Upstream segment raised its mid-term production guidance. It now expects that the current portfolio will be able to produce 100-110,000 barrels of oil equivalent per day even until 2023. This is driven by the development program at the Shaikan Field in Kurdistan Region of Iraq and the extended UK plateau production, as well as by the optimization programs in Hungary and Pakistan. MOL will look to add 350 million barrels of oil equivalent new reserves by 2023.

Downstream will continue to boost efficiency and deliver net savings by 2023, while the first round of strategic and transformational projects shall already have a visible earnings contribution by 2022-23. MOL also sees significant upside potential in capturing the full benefit of International Maritime Organization’s (IMO) regulation for marine fuels. Since the fuel specification change will prohibit high sulphur marine fuels as of January 2020, margins may expand atthe Danube and Bratislava refineries, which have no material fuel oil production.

Consumer Services is expected to generate over USD 500 mn EBITDA by 2023 through satisfying CEE mileage demand, boosting Consumer Goods EBITDA and scaling up mobility services. MOL will double its Fresh corner sites to 1,250 by 2021. It will increase its MOL Limo car sharing fleet to 600 cars in Budapest, all electric, while also rolling it out to an additional 2-3 cities.

To view the whole Investor Day presentation click here.

2018-10-31 MOL Group Q3 2018 Results: Strongest Quarter In Three Years

  • Clean CCS EBITDA rose 23% to USD 708mn in Q3, on track to reach upgraded 2018 target (USD 2.4bn)
  • Upstream’s contribution jumped by 70% y-o-y, while Consumer Services ended Q3 with all-time high result
  • Net profit at USD 323mn in Q3, reaching USD 835mn for the first nine months of 2018

Budapest, 31 October 2018 – Today, MOL Group announced its financial results for the third quarter of 2018. A material increase in Clean CCS EBITDA in Q3 brought EBITDA for the first nine months of the year to just over USD 2bn.

Upstream delivered USD 319mn EBITDA in Q3, up by 70% year-on-year on the back of rising oil and gas prices. The average daily hydrocarbon production was marginally lower in Q3 and stood at 108,300 barrels of oil equivalent per day (boepd), as rising production in the Catcher area in the UK mostly offset the impact of the usual annual turnarounds.

Downstream Clean CCS EBITDA remained almost flat at USD 262mn in the third quarter, despite significantly weaker refinery and petrochemical margins. The deteriorating margins were mostly compensated by strong volumes and improved sales margins in refining in the quarter.

Consumer Services continued its double-digit growth driven by dynamic expansion of non-fuel margin and healthy fuel market trends. The segment reached a new all-time high quarterly result at USD 147mn, up by 11% year-on-year. As the rollout of the flagship non-fuel concept significantly accelerated, the number of reconstructed sites with Fresh Corners rose to 606 from 363 a year ago.

The Gas Midstream segment reached USD 25mn EBITDA in Q3, lower than a year ago due to lower volumes and rising energy cost.

Chairman-CEO Zsolt Hernádi commented on the results: „The delivery of the very strong third quarter results will allow us to comfortably meet or beat our upgraded Clean CCS EBITDA guidance of USD 2.4bn in 2018, while we also continued with our strategic business transformation and reached important milestones in the last three months. We increased our EBITDA and free cash flow by more than 20% in Q3, as Upstream capitalized on higher oil prices and became the largest cash contributor, Consumer Services continued its double-digit growth and Downstream posted flat earnings despite a much weaker macro. Meanwhile, we signed lump-sum EPC contracts for our flagship polyol project and also agreed on a strategic partnership in plastics recycling during the quarter.”

2018-10-02 MOL Group lays the foundation stone for new HQ

  • Construction has started on the 28-story “MOL Campus”, designed by Foster + Partners
  • MOL hires Berlin-based KINZO studio for the interior design
  • The new building will serve as the headquarters of MOL Group from 2021
  • For photos and videos of the design visit http://molcampus.hu/en/shared

Budapest, 2 October 2018 – Today, MOL Group has laid the foundation for the new MOL Campus headquarters. The future workspace for up to 2,500 employees will be located on the banks of the Danube in the southern part of Budapest, close to the current HQ building. The modern design mirrors MOL Group’s bold vision of its 2030 strategy to drive change across CEE over the few next decades, and will also play an essential role in redesigning employee experience.

Zsolt Hernádi, Chairman-CEO of MOL Group said: "We are building the most modern office building in the region, MOL Campus. This unprecedented building represents the culmination of the development of MOL's market position and culture over the past twenty years, but is also the basis for our future. It underlines that MOL lives in symbiosis with its environment, invests in the future and provides an inspiring work environment for the employees who will provide the lion’s share of the implementation of the MOL 2030 strategy."

Meeting the ambitious targets of the new long-term strategy, MOL 2030, requires smart investments in both physical infrastructure and human capital. Currently MOL headquarters is scattered throughout five districts in Budapest, in buildings mostly constructed during the 1970s. The new campus will not only generate substantial operational synergies through the relocation of all Budapest staff, but will also play an essential role in redesigning the employee experience, enhancing collaboration and helping to create a superior physical, technological and cultural environment. This will be crucial for attracting and retaining a high quality, mobile and tech savvy workforce in the future. In line with MOL’s vision for 2030, the new campus will feature the highest standards of energy efficiency and sustainability and aims to obtain both LEED and BREEAM qualifications.

MOL hired Berlin-based KINZO to design the interior of MOL Campus. KINZO has previously designed interior design projects for large office buildings such as the ERSTE Campus in Vienna, the Adidas headquarters in Herzogenaurach and the SoundCloud office in Berlin. KINZO's local partner is Minusplus.

MOL Campus is designed by one of the most renowned architectural studios in the world, the UK-based Foster + Partners, who will be also responsible for certain interior community areas in coordination with KINZO. Foster + Partners Hungarian partner is FintaStudio.

Notes to editors:

LEED: (Leadership in Energy and Environmental Design).  The certification system was launched in the United States. New and also existing buildings can be rated within the framework of LEED system. LEED is a voluntary, consensus-based rating system for the environmental friendly buildings operated by the market which relies on the available and operative technologies. A project could achieve „Certified”, „Silver”, „Gold” or „Platinum” certification. The rating system was elaborated on five environmental categories (advantageous location from environmental aspect, efficiency of water consumption, energy and atmosphere, materials and tools and the quality of internal environment).

BREEAM: (Building Research Establishment Environmental Assessment Method) is the first environmentally conscious building certification system which was initiated in the United Kingdom. The aim of the system is to improve the quality of the built environment; commercial, trade and office buildings can be rated. BREEAM supports low energy consumption buildings, various solutions for improving water efficiency, and investments which do not affect green areas, but realized as brownfield projects and therefore have less effect on the environment. The BREEAM certificated buildings are classified into five categories: pass, good, very good, excellent and outstanding.

2018-09-13 MOL recognized by the Dow Jones Sustainability Index for the third consecutive year

  • MOL is now ranked in the top 15% of Upstream & Integrated Oil & Gas companies worldwide in terms of sustainability
  • MOL is the sole emerging European member of the index
  • MOL Group consistently receives strong scores among leading sustainability indices

Budapest, 13 September 2018 – MOL continues to be one of the leaders in sustainability in the Central and Eastern European region. The company has been selected as an index component of the Dow Jones Sustainability Indices (DJSI) for the third year running.

Following the annual sustainability assessment conducted by Robeco SAM, MOL is now ranked in the top 15% of Upstream & Integrated Oil & Gas companies worldwide based on sustainability performance and is the sole emerging European member of the index.

Since 1999, the DJSI has been tracking the economic, environmental and social performance of listed companies worldwide, and is designed to identify companies that demonstrate strong sustainability practices against internationally recognized standards. The DJSI is based on an in-depth analysis of a company’s sustainability performance on 23 primary criteria and more than 100 secondary criteria across Economic, Environmental and Social dimensions. Hence membership in the DJSI is restricted to corporations judged to be best-in-class.

Given its long-term commitment to sustainable development, MOL is pleased to be continuously recognized as a top Environmental, Social and Governance (ESG) performer by leading sustainability indices as well as top research and rating agencies, including Dow Jones Sustainability Indices, MSCI, and Sustainalytics. As part of its long-term strategic transformation, MOL aims to further adapt its business to a low carbon world.

2018-09-13 MOL recognized by the Dow Jones Sustainability Index for the third consecutive year

  • MOL is now ranked in the top 15% of Upstream & Integrated Oil & Gas companies worldwide in terms of sustainability
  • MOL is the sole emerging European member of the index
  • MOL Group consistently receives strong scores among leading sustainability indices

Budapest, 13 September 2018 – MOL continues to be one of the leaders in sustainability in the Central and Eastern European region. The company has been selected as an index component of the Dow Jones Sustainability Indices (DJSI) for the third year running.

Following the annual sustainability assessment conducted by Robeco SAM, MOL is now ranked in the top 15% of Upstream & Integrated Oil & Gas companies worldwide based on sustainability performance and is the sole emerging European member of the index.

Since 1999, the DJSI has been tracking the economic, environmental and social performance of listed companies worldwide, and is designed to identify companies that demonstrate strong sustainability practices against internationally recognized standards. The DJSI is based on an in-depth analysis of a company’s sustainability performance on 23 primary criteria and more than 100 secondary criteria across Economic, Environmental and Social dimensions. Hence membership in the DJSI is restricted to corporations judged to be best-in-class.

Given its long-term commitment to sustainable development, MOL is pleased to be continuously recognized as a top Environmental, Social and Governance (ESG) performer by leading sustainability indices as well as top research and rating agencies, including Dow Jones Sustainability Indices, MSCI, and Sustainalytics. As part of its long-term strategic transformation, MOL aims to further adapt its business to a low carbon world.

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