MOL Romania sees profit up 45pc and turnover down 23

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MOL Romania, the local subsidiary of Hungarian petroleum group MOL, one of the leading players on the Romanian fuel distribution market, posted an over 45 pecent profit rise last year against 2008 despite an almost 25 percent lower turnover, the Ziarul fianciar daily informs on Tuesday.

MOL holds a chain of 126 petrol stations on the Romanian market. The main factors behind the company’s turnover decline were the depreciation of the Romanian against the European currency, and the decline in Company’s fuel sales.
The economic crisis resulted in a decline by 5-10 percent in the petroleum and the diesel oil sold on the overall market, with the biggest decline recorded by the corporate segment, i.e. sales to big companies such as the transportation ones, the same newspaper reads on.

“Despite the difficult economic environment, MOL Romania preserved its market share at 11 percent, in 2009. On the other hand, the sales fell by 5 percent, while the Company’s turnover amounted to around 450 million euros, down 23 percent against 2008,” the daily concluded, quoting MOL Romania officials as saying.

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