MOL Group: stable operations despite unfavorable external influences

MOL Group has announced financial results for the second quarter and first half of 2023. In the first six months of this year, MOL Group achieved EBITDA of USD 1.125 million, while in the second quarter EBITDA reached USD 411 million. Both the Downstream and Upstream segments were hit by worsening macro conditions and were burdened by huge government imposes, including additional taxes and additional mining fees. Moreover, Q2 results were also weighed down by a new additional income tax in Hungary of USD 315 million for the full year 2023, which was fully defined as a one-time charge in Q2. The Consumer Services segment recovered from last year's lowest values and participates with almost 43% in the total EBITDA of the MOL Group, partially mitigating the effect of unfavorable external influence. MOL Group has set its EBITDA guidance for the full year 2023 at approximately USD 2.5 billion. 

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