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MOL Plc (MOLBq.L)

MOLBq.L on London Stock Exchange

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Latest Key Developments (Source: Significant Developments)

MOL has not bought own shares on the market -CFO Simola
Thursday, 13 Apr 2017 07:30am EDT 

Mol Plc :MOL CFO Jozsef Simola says company has not bought MOL shares on the market .Magnolia transaction had boosted treasury shares of MOL in the past year - Simola [nL8N15K141] .Czech CEZ said in March that it would buy back nearly all its 2017 convertible bonds linked to MOL shares while selling most of its 7.5 percent stake in MOL to pay bondholders [nL5N1H81JL] Further company coverage: MOLB.BU (Reporting by Krisztina Than) ((krisztina.than@thomsonreuters.com; +36 1 327 4745; Reuters Messaging: krisztina.than.thomsonreuters.com@reuters.net)) Keywords: MOL INA/ (BRIEF).  Full Article

CEZ to buy back nearly 99 pct of 2017 bonds linked to MOL shares
Friday, 31 Mar 2017 02:00am EDT 

Cez As : Cez says has concluded its invitation to holders of its outstanding eur 470.2 million guaranteed exchangeable bonds due 2017 . Cez says received by expiration deadline eur 463.1 million in aggregate principal amount of bonds . Cez says of the principal amount of EUR 468.6 million of the Bonds currently outstanding, approximately 98.8 per cent . were accepted by CEZ MH B.V. for sale in the invitation . Cez says following settlement of the invitation, bonds in the aggregate principal amount of approximately eur 5.5 million will remain outstanding . Cez says final size of the equity placing of mol shares by cez will be 7,561,372, raising proceeds of huf 141.4 billion .Cez says after settlement of the equity placing, cez mh b.v. Will continue to hold 89,796 mol shares (representing a shareholding of 0.1 per cent in mol).  Full Article

CEZ subsidiary offers to buy exchangeable bonds worth 470.2 mln euros
Thursday, 30 Mar 2017 02:02am EDT 

Cez As : CEZ's wholly owned subsidiary CEZ MH B.V. launched an invitation for holders of guaranteed exchangeable bonds worth 470.2 million euros to sell their papers . The bonds, due in 2017, are exchangeable into ordinary shares of Hungary's MOL . The bonds were issued by CEZ MH B.V. and guaranteed by CEZ on Feb. 4, 2014 and are listed on the Frankfurt Stock Exchange . CEZ said it has conditionally sold roughly a 7.5 percent stake in MOL and it will use the proceeds worth 143.1 billion forints (462.24 million euros) to fund the bond buyout (1 euro = 309.5792 forints)] Further company coverage: [CEZP.PR] (Prague Newsroom) ((robert.muller@thomsonreuters.com;)).  Full Article

MOL's Q4 EBITDA below forecast, but says 2016 target achieved
Tuesday, 28 Feb 2017 01:25am EST 

MOL Nyrt says: Company's fourth-quarter net profit falls to 43.5 billion forints ($150 million) from 67.3 billion in third quarter; company posted loss of 435.3 billion in 2015 fourth-quarter due to big upstream write-downs . Core profit, or so-called clean EBITDA (earnings before interest, taxes, depreciation and amortisation) drops to 139.6 bln forints in the fourth quarter vs 150.3 bln in fourth quarter 2015 . EBITDA below analysts' median forecast of 151.3 billion forints in a poll by business website www.portfolio.hu . MOL says full-year 2016 clean EBITDA was $2.15 billion, above its original target of $2 billion; MOL upgraded its original guidance to $2.2 billion in the third quarter. . MOL expects to generate at least $2 billion in 2017 EBITDA, which should cover capex, and dividends . Downstream posted $1.5 billion clean EBITDA in 2016, only slightly behind all-time high levels in 2015 . MOL's production rose to 112,400 barrels of oil per day in fourth quarter from 109,200 bpd in third quarter. Further company coverage: ($1 = 290.0700 forints) (Reporting by Krisztina Than) ((krisztina.than@thomsonreuters.com; +36 1 327 4745; Reuters Messaging: krisztina.than.thomsonreuters.com@reuters.net)) Keywords: MOL EARNINGS/ (BRIEF).  Full Article

Croatia's INA returns to profit in 2016 after four years
Monday, 27 Feb 2017 06:35am EST 

Croatia's energy group INA , whose biggest shareholders are Hungary's energy firm MOL with just below 50 percent and the Croatian government with almost 45 percent: INA's 2016 revenues were 15.6 billion kuna ($2.22 billion), down from 18.9 billion kuna a year before. . Returns to net profit for the first time since 2012. Last year's net profit was 101 million kuna against a net loss of 1.4 billion kuna in 2015. . Net debt continued to fall, hitting 2.5 billion kuna at the end of 2016 compared with 9.9 billion kuna in 2010. . INA is considering business options for one of its two refineries, located in the central town of Sisak, which had losses worth some 260 million kuna in 2016. ($1 = 7.0164 kuna) (Reporting by Igor Ilic; editing by Susan Thomas) ((igor.ilic@thomsonreuters.com; +385 1 4899 970; mobile +385 98 334 053;)) Keywords: CROATIA INA/.  Full Article

Hungary govt sees end of MOL-INA relationship - weekly
Thursday, 2 Feb 2017 03:30am EST 

MOL Plc : Hungary's foreign minister says foresees end of cooperation between oil group MOL and Croatia over INA - weekly Figyelo . Business cooperation between Croatia, MOL has become "politically untenable" - Szijjarto . "In this situation it is hard to fathom an outcome other than the end of this cooperation" - Szijjarto . Hungary govt not involved in talks, Croatia will have to deal with MOL - Szijjarto . Transaction (to close cooperation) only acceptable if the amount of money returned will equal MOL's full invested capital - Szijjarto Further company coverage: [MOLB.BU] [INA.ZA] (Reporting by Marton Dunai and Krisztina Than) ((marton.dunai@thomsonreuters.com;)).  Full Article

MOL lifts 2016 EBITDA guidance despite Q3 y/y profit drop
Friday, 4 Nov 2016 02:19am EDT 

MOL Nyrt says: Company's third-quarter net profit falls to 68.8 billion forints ($248.94 million) from 90.7 billion in same period of 2015 . Core profit, or so-called clean EBITDA (earnings before interest, taxes, depreciation and amortisation) dropped 23 percent year-on-year to 164.5 billion forints . EBITDA still exceeded analysts' median forecast of 156.8 billion forints in a poll by business website www.portfolio.hu . MOL upgrades full-year 2016 clean EBITDA guidance to around $2.2 billion from $2 billion . Downstream clean EBITDA roughly stable quarter-on-quarter at HUF 114.9 bln but declined year-on-year (from HUF 153 bln) and was affected by planned maintenance shutdowns . Upstream segment posted first year-on-year EBITDA growth since 2011 due to higher volumes and cost control . MOL's production rose 6 percent year-on-year to 107,000 barrels per day in Q3, but dropped 4 percent from second quarter Further company coverage: MOLB.BU ($1 = 276.3700 forints) (Reporting by Krisztina Than) ((krisztina.than@thomsonreuters.com; +36 1 327 4745; Reuters Messaging: krisztina.than.thomsonreuters.com@reuters.net)) Keywords: MOL EANRINGS/ (BRIEF).  Full Article

MOL's efficiency programme on track, cuts capital spending - CFO
Friday, 5 Aug 2016 12:47am EDT 

MOL Nyrt : Downstream efficiency improvement programme on track to deliver targeted $500 million EBIDTA improvement by the end of next year - Chief Financial Officer Jozsef Simola . MOL has lowered expectations for capex spending for this year to a maximum of $1.1 billion from $1.3 billion . Capex guidance excludes potential strategic organic growth projects and acquisitions - MOL investor presentation Further company coverage: [MOLB.BU] (Reporting by Krisztina Than; Editing by Gopakumar Warrier) ((krisztina.than@thomsonreuters.com; +36 1 327 4745; Reuters Messaging: krisztina.than.thomsonreuters.com@reuters.net)) Keywords: MOL RESULTS/ (BRIEF).  Full Article

MOL's Q2 net profit rises 45 pct y/y; says 2016 EBITDA target on track
Friday, 5 Aug 2016 12:33am EDT 

MOL Nyrt says: Posted 45 percent rise in second-quarter net profit to 83.5 billion forints ($299.21 million) from 57.5 billion forints . Core profit, or so-called clean EBITDA (earnings before interest, taxes, depreciation and amortisation) dropped 10 percent year on year to 160.1 billion forints . EBITDA still exceeded analysts' median forecast of 158.8 billion forints in a poll by business website www.portfolio.hu . MOL on track to generate at least $2 billion in clean EBITDA this year, MOL Chairman and Chief Executive Zsolt Hernadi said . Downstream EBITDA rose quarter-on-quarter on seasonality, but was slightly lower year-on-year on refining . MOL's production rose 7 percent to 110,800 barrels per day in Q2 from the same period last year, but dropped from 112,100 in the first quarter Further company coverage: MOLB.BU ($1 = 279.0700 forints) (Reporting by Krisztina Than) ((krisztina.than@thomsonreuters.com; +36 1 327 4745; Reuters Messaging: krisztina.than.thomsonreuters.com@reuters.net)) Keywords: MOL EANRINGS/ (BRIEF).  Full Article

MOL Plc acquires Eni’s Downstream business in Hungary
Wednesday, 21 Oct 2015 11:43am EDT 

MOL Plc:Signs an agreement with Eni International BV for the acquisition of the entire share capital of Eni Hungaria.Eni Hungaria manages 183 Agip branded service stations in Hungary (including dealer owned sites) as well as wholesale activities in the country.Eni lubricants wholesale business is excluded from the deal.deal includes the Eni’s retail station business and wholesale activities.  Full Article

More From Around the Web

CEZ buys back convertible bonds, sells MOL shares to end partnership

PRAGUE, March 31 Czech utility CEZ said on Friday it would buy back nearly all its 2017 convertible bonds linked to MOL shares while selling most of its 7.5 percent stake in the Hungarian oil and gas group to pay the bondholders.