MOL Group reported a pre-tax profit of 1.3 billion dollars for 2025, representing an 11% year-on-year increase, as stronger downstream and retail performances helped offset weaker upstream conditions in a volatile global environment.
The company noted that lower oil and gas prices weighed on its exploration and production segment despite solid output levels. In contrast, refining and consumer services played a pivotal role in supporting profitability, benefiting from favorable market dynamics and improved operational efficiency.
Chairman-CEO Zsolt Hernádi stated that the group preserved operational stability despite supply chain disruptions, geopolitical tensions and technical setbacks. In the final quarter of 2025, MOL completed several strategic steps, including transitioning to a holding structure, expanding its renewable energy portfolio in Hungary and increasing hydrocarbon production to nearly 100,000 barrels of oil equivalent per day.
He also pointed out that recent incidents — including a fire at the Danube Refinery and recurring disruptions along the Druzhba pipeline — highlighted the vulnerability of landlocked countries to supply shocks and reinforced the importance of diversified crude sources and transport routes.
In the downstream division, refining margins exceeded expectations, supported by favorable external conditions, more than compensating for lower throughput and weaker year-on-year petrochemical results. Upstream performance, however, remained under pressure from softer commodity prices, although higher production volumes in Central and Eastern Europe and the Kurdistan region of Iraq helped stabilize overall output.
Fourth-quarter hydrocarbon production reached over 99.4 million barrels of oil equivalent, while the full-year average stood at 94.7 million — above the company’s guidance range of 92–94 million barrels. For 2026, MOL projects production between 95 and 97 million barrels of oil equivalent.
The consumer services segment continued to expand, driven by growth in both fuel and non-fuel activities. Strong fuel margins, particularly in Croatia and Romania, combined with improving non-fuel performance in the fourth quarter. The Fresh Corner retail concept expanded to 1,409 locations by year-end, marking quarterly growth of 2.7% and a 6% increase compared to 2024. Non-fuel activities accounted for 35.6% of total retail margins in the fourth quarter.
Gas midstream performance remained broadly stable year-on-year. Increased transmission demand was largely offset by lower regulated prices, while transported volumes stayed resilient despite somewhat less favorable market conditions.
Overall, MOL emphasized that its integrated business model enabled it to navigate market volatility, sustain profitability and continue advancing its strategic priorities.
