MOL Group recorded a net loss of $ 152 million in the first quarter
05/07/2020 • Customer news
MOL Group today announced its financial results for the first quarter of 2020.
Large stock losses as well as foreign exchange losses resulted in MOL Group's net loss of $ 152 million in the first quarter, as the first sign of a crisis caused by the pandemic. Core operations were strong by mid-March, which was also evident at $ 622 million in net CCS EBITDA.
However, the pandemic has already started to seriously affect all business lines in the last 2-3 weeks of March, and the situation worsened further in April. Due to the unpredictable external environment, in 2020, the EBITDA guidelines were withdrawn and the organic capital guidelines were reduced by more than 25%.
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