Fuel operator MOL Group has reported a 44% decline in EBITDA in its Consumer Services division in the first quarter of the year.
The division, which includes the group's forecourt arm – MOL Group operates a network of more than 2,000 service stations in the CEE region – said that the EBITDA impact was driven by fuel price regulatory measures in Hungary, Croatia, Serbia, Slovenia and Bosnia and Herzegovina.
Non-fuel margins in the division increased 8% year-on-year, supported mainly by the group's grocery, gastro and hot dog sales, it said.
Fresh Corner
The number of Fresh Corner retail outlets operated by the group increased to 1,081 in the first quarter, up from 984 in the same period last year.
In January of this year, MOL signed a set of agreements with Grupa Lotos SA and PKN Orlen, which led to the acquisition of 417 service stations in Poland, taking the company to third position in the local fuel retail market.
On a broader level, the company said that a 'robust' EBITDA performance was driven by its upstream business, with its downstream business impacted by by 'volatile and controversial macro and price effects'.
'Transformation Journey'
"MOL is in the middle of a transformation journey which requires heavy investments," commented Chairman-CEO Zsolt Hernádi.
"We are very much committed to continue this process in the current volatile environment too. MOL Group has shown resilience during several crises in the past and I am confident that we will maintain our crucial role in providing a predictable energy supply and remain a trusted partner of our customers, stakeholders and the wider society.”
Read More: MOL Group's Peter Ratatics On The Future Of Fuel Retailing
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