MOL 2Q Adjusted Net Profit Up 42% On Financial Results, Exceeds Forecast
August 27 2009 - 7:07PM
Dow Jones News
Hungarian oil and gas company MOL Nyrt. (MOL.BU) said Friday its
adjusted second-quarter net profit rose to a quarterly record on
debt revaluation, while its operating profit fell sharply due to
lower oil prices and narrowing diesel crack spreads.
MOL's adjusted earnings before interest, tax, depreciation and
amortization, or Ebitda, fell 20% from a year earlier to 92.9
billion forints ($495.8 million) in the second quarter. That still
exceeded expectations of nine analysts in a poll by portfolio.hu
for HUF86.94 billion.
MOL's adjusted net profit totaled HUF156.1 billion in the second
quarter, up 42% from HUF109.6 billion a year earlier. That's 14%
higher than analysts' expectations for HUF136.5 billion.
Unadjusted net profit was HUF178.5 billion in the second
quarter, up 56% from HUF114.7 billion a year earlier. Unadjusted
and diluted earnings was HUF1,885 a share versus a HUF1,163 a year
earlier.
Company's Web site: www.mol.hu
-By Margit Feher and Veronika Gulyas, Dow Jones Newswires;
+361-267-0622; margit.feher@dowjones.com