By Veronika Gulyas
BUDAPEST--MOL Nyrt. (MOL.BU), one of central Europe's largest
refineries and Hungary's biggest company by revenue, expects to see
earnings before interest, taxes, depreciation and amortization at
$2 billion, according to a video interview with the company's
managers published Tuesday.
The firm plans to reach this in line with its new, three-year
downstream program that includes cost efficiency measures in the
production, commercial and retail areas; as well as the financial
return of the last two or three years' strategic investments,
Jozsef Simola, MOL's chief operating officer said.
The planned 2015 EBITDA compares to $592 million in 2014, and is
calculated with a crude oil price forecast of $60 per barrel.
The firm published its 2014 earnings earlier Tuesday.
Over the next three years, MOL plans downstream EBITDA between
$1.3 billion and $1.4 billion, while free cash flow is forecast
around $900 million.
Ferenc Horvath, MOL's executive vice president for the
downstream business, said this year would be as challenging as 2014
was or even more, but was confident that MOL was ready to tackle
the challenges.
Write to Veronika Gulyas at veronika.gulyas@wsj.com; Twitter:
@VeronikaGulyas1
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