FIRST QUARTER 2023 RESULTS

12 MAY2023

DISCLAIMER

"THIS PRESENTATION AND THE ASSOCIATED SLIDES AND DISCUSSION CONTAIN FORWARD-LOOKING STATEMENTS. THESE STATEMENTS ARE NATURALLY SUBJECT TO UNCERTAINTY AND CHANGES IN CIRCUMSTANCES. THOSE FORWARD-LOOKING STATEMENTS MAY INCLUDE, BUT ARE NOT LIMITED TO, THOSE REGARDING CAPITAL EMPLOYED, CAPITAL EXPENDITURE, CASH FLOWS, COSTS, SAVINGS, DEBT, DEMAND, DEPRECIATION, DISPOSALS, DIVIDENDS, EARNINGS, EFFICIENCY, GEARING, GROWTH, IMPROVEMENTS, INVESTMENTS, MARGINS, PERFORMANCE, PRICES, PRODUCTION, PRODUCTIVITY, PROFITS, RESERVES, RETURNS, SALES, SHARE BUY BACKS, SPECIAL AND EXCEPTIONAL ITEMS, STRATEGY, SYNERGIES, TAX RATES, TRENDS, VALUE, VOLUMES, AND THE EFFECTS OF MOL MERGER AND ACQUISITION ACTIVITIES. THESE FORWARD-LOOKING STATEMENTS ARE SUBJECT TO RISKS, UNCERTAINTIES AND OTHER FACTORS, WHICH COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE EXPRESSED OR IMPLIED BY THESE FORWARD-LOOKING STATEMENTS. THESE RISKS, UNCERTAINTIES AND OTHER FACTORS INCLUDE, BUT ARE NOT LIMITED TO DEVELOPMENTS IN GOVERNMENT REGULATIONS, FOREIGN EXCHANGE RATES, CRUDE OIL AND GAS PRICES, CRACK SPREADS, POLITICAL STABILITY, ECONOMIC GROWTH AND THE COMPLETION OF ON-GOING TRANSACTIONS. MANY OF THESE FACTORS ARE BEYOND THE COMPANY'S ABILITY TO CONTROL OR PREDICT. GIVEN THESE AND OTHER UNCERTAINTIES, YOU ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE ON ANY OF THE FORWARD-LOOKING STATEMENTS CONTAINED HEREIN OR OTHERWISE. THE COMPANY DOES NOT UNDERTAKE ANY OBLIGATION TO RELEASE PUBLICLY ANY REVISIONS TO THESE FORWARD-LOOKING STATEMENTS (WHICH SPEAK ONLY AS OF THE DATE HEREOF) TO REFLECT EVENTS OR CIRCUMSTANCES AFTER THE DATE HEREOF OR TO REFLECT THE OCCURRENCE OF UNANTICIPATED EVENTS, EXCEPT AS MAYBE REQUIRED UNDER APPLICABLE SECURITIES LAWS.

STATEMENTS AND DATA CONTAINED IN THIS PRESENTATION AND THE ASSOCIATED SLIDES AND DISCUSSIONS, WHICH RELATE TO THE PERFORMANCE OF MOL IN THIS AND FUTURE YEARS, REPRESENT PLANS, TARGETS OR PROJECTIONS."

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HIGHLIGHTS

OF THE QUARTER

STRONG YEAR START IN 2023 SUPPORTED BY INTERNAL DELIVERY

Q1 2022

RESULTS4

OIL & GAS

94 MBOEPD

PRODUCTION1

Q1 2023

2023

RESULTS

GUIDANCE

96 MBOEPD

~90 MBOEPD

CRUDE PROCESSING2

3.1 MT

2.9 MT

~12 MT

GROUP CAPEX

USD 323 MN

(ORGANIC)

USD 196 MN

<1.7 BN

NET DEBT/EBITDA

0.70X

0.16X

<1.0X

HSE - TRIR3

1.2

1.2

<1.1

4

1 Clean CCS EBITDA less Organic capex

4 Continuing operations. i.e. excluding UK

2 MOL Danube Refinery + Slovnaft refinery

3 Total Recordable Injury Rate.

USD 714MN EBITDA AMID CONTINUED REGULATORY HEADWINDS IN Q1

SUPPORTED MAINLY BY REFINING AND UPSTREAM CONTRIBUTION

FINANCIALS

Clean CCS EBITDA amounted to USD 714mn in Q1 2023 representing a 14% decrease YoY, while operating CF generation after working capital stood at USD 744mn in Q1 2023

Although the price cap in Hungary was phased out, windfall taxation still played a major role and affected EBITDA by ca. USD 350mn in Q1 2023

Downstream CCS EBITDA came in at USD 299mn in Q1 2023 as diminishing Petchem contribution was offset by higher R&M EBITDA generation

Consumer Services EBITDA rebounded and reached USD 127mn in Q1 2023 as the regulatory environment eased, additionally non-fuel contribution improved further

Upstream EBITDA decreased to USD 283mn QoQ in Q1 2023 as diminishing oil and gas prices and the extra royalty levied upon production in Hungary played a significant negative role

Net debt to EBITDA improved and stood at 0.16x by the end of the period in line with positive CF generation covering seasonally lower CAPEX in Q1 2023

OPERATIONAL AND OTHER DEVELOPMENTS

The implementation of the shallow gas drilling program continued in Hungary, 3 wells were successfully tested in the Q1 2023 period bringing the total shallow gas well count to 19 since the start of the campaign

The extension of the crude basket of the Slovnaft refinery continued, an Azeri Light cargo from the ACG field was transported to the refinery

Following the expansion of the Consumer Services portfolio in Poland in late 2022 the MOL brand was launched in the country

The AGM approved the dividend proposal of HUF ~350 dividend per share, which is composed of a regular dividend of HUF ~150 and a special dividend of HUF ~200 to be paid after 2022 results

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MOL plc published this content on 11 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 May 2023 22:10:50 UTC.