MOL Group increased its EBITDA by 72 percent in the first three quarters of 2014 - a total of $ 696 million in operating profit.
MOL Group increased its EBITDA (earnings before interest, taxes, depreciation and amortization) by 72 percent in the first three quarters of 2014. The result of 164 billion Hungarian forints operating profit, which is about $ 696 million, to thank, as they clarify, the growth of production and excellent quarter in downstream or refinery production and retail.
MOL reversed the negative trend of investing in research and investment which was primarily caused due to fall in crude oil price and the weakening of the forint. EBITDA grew due to lower costs of research, said MOL in its statement. Downstream had a superb quarter thanks to increasing efficiency. Specifically, in this segment, MOL achieved EBITDA of 345 million euros.
