MOL Romania posts 17 million euros in 2009 profits

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MOL Romania has reported 2009 profits of nearly 17 million euros, on a decreasing business turnover that was down 23 percent, at nearly 450 million euros, the company reports.

MOL Romania’s market share stayed at 11 percent, but fuel sales dropped 5 percent. The falling business turnover is said to be the result of the depreciation of the local currency, the leu (RON), against the single European currency, the euro, as well as of a declining Romanian market for fuels, particularly for fuel cards.

The 2009 turnover of MOL Romania is said to have been generated mainly by the retail and corporate divisions and some support was provided by other business segments, including wholesale trade in lubricants and petrochemicals, both of which reported a slight increase from 2008. Sales at the MOL shops stayed almost identical to those in 2008, which were above the averages in the Romanian retail market for consumer goods.

Another forte of the company it is said to be its MultiBonus loyalty programme for individuals, a unique programme of this kind in Romania. The programme reported an over-50- percent rise in the number of applicants in 2009 from 2008. Despite the not so favourable economic conditions, the company continued its investment projects in 2009, opening four new filling stations, modernising the logistics of its fuel storage facility at Tileagd and finalising the implementation of the latest visual standard of the Mol Group at 20 stations.

The company says it is planning to upgrade 50 of its local filling stations to the new visual standard by the end of 2010. ‘The results so far of MOL Romania provide a solid basis for future sustainable development. We are working on a medium-term strategy for our Romanian branch that will run through 2015 and will consider efficient opportunities that may generate added value on the local market.
We are also looking into the possibility of expanding the business portfolio and at the same time strengthening the MOL branded offerings for Romanian consumers,’ says MOL Romania Country Chairman Szabolcs Ferencz. MOL is operating 126 filling stations in Romania.

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