• MOL Group profit before tax reached USD 503 mn in the third quarter of 2025, remaining flat year-on-year.
• Upstream delivered stable results amidst a relatively stable external environment.
• Downstream’s performance marked an increase in the third quarter, mainly due to refining margins widening considerably.
• Consumer Services delivered growth, supported by a strong driving season with better price environment in Romania and Croatia.
• Seasonal factors weighed on the performance of Circular Economy Services, leading to negative results.

MOL Group announced its financial results for Q3 2025. The company delivered USD 503 mn profit before tax in the third quarter of 2025, remaining flat year-on-year. Refining strength and fuel retail growth resulted in a good EBITDA performance with Consumer Services remaining on high growth path and Upstream delivering stable results

Chairman-CEO Zsolt Hernádi commented on the results: 
"We are used to excitement, but even by our standards, we have had an eventful period behind us. Just think of the sanctions affecting the oil market, the fire in Százhalombatta, or the anomalies surrounding shipments on the Adria pipeline. It is a joy amid so much sorrow that even these challenges—which are demanding to manage—cannot divert MOL Group from its chosen path. Thanks to the commitment of our colleagues, our operational efficiency and our flexibility, we are staying on course, as we closed a strong quarter. However in the light of the new challenges ahead of us we had to review our guidance for this year.

In addition to all this, we are continuing to implement our transformation strategy, the most important milestone of which is currently to make our company's legal structure more efficient and to switch to a holding structure that is well established in the international oil industry. Our shareholders will decide on this at our extraordinary general meeting convened for November 27.

Amidst our many tasks, we must also take time to remember, as this year marks the 60th anniversary of the Danube Refinery and our Algyő oil and gas field, and there is also cause for celebration in our Consumer Services business. Ten years ago, we launched our Fresh Corner network, which has grown into the largest café chain in the region, with nearly 1,400 stores and more than 180 thousand cups of coffee sold every day on average. All this clearly shows that MOL is capable of growing and developing under any circumstances.”

Upstream delivered stable results amidst a relatively stable external environment. Production decreased to an average 92.3 mboepd in Q3 2025, near the bottom end of the annual guidance band of 92-94 mboepd, mainly due to temporary outages in Hungary. The short-term outlook points towards improvement as production increased to 98.4 mboepd in October. Meanwhile, crude exports from the Kurdistan Region of Iraq restarted to Turkey, and the ‘KM250’ gas expansion project was completed at the Khor Mor facility also in the Kurdistan Region of Iraq.

Downstream performance improved in Q3 2025 due to a favourable refining environment, mainly because refining margins widened by close to 6 dollars per barrel. Processed volumes were seasonally low due to regular annual maintenance scheduled for Q3, while sales volumes remained flat year-on-year. As the petrochemicals environment showed no improvement, the performance of petrochemicals still remained below breakeven. After the October fire incident in the Danube Refinery, units not affected in the fire have been successfully restarted and the damage assessment is still ongoing.

The Consumer Services segment delivered a positive performance in Q3 2025, remaining on a high growth path. Results were supported by a solid driving season and strong fuel sales, with fuel margins strengthening due to the better pricing environment in Croatia and Romania. The dynamics of non-fuel expansion is holding up well. Amid wage and inflationary pressure, OPEX growth weighed on the results, while a positive one-off effect year-on-year originated from the merger in fleet services.

Circular Economy Services reported negative performance impacted by strong seasonality in the third quarter of the year, due to extensive DRS redemption activity with lower revenues; and secondary raw material sales also decreased. The impact of positive regulatory changes in the EPR system along with efficiency improvement measures, is expected to gain traction in the coming quarters.

Gas Midstream results deteriorated compared to last year as a result of shifting macroeconomic factors and regulated tariff levels, despite the strong regional transmission demand.

KeyFacts Energy: MOL Group Hungary country profile