MOL Romania sees profit up 45% and turnover down 23%

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% profit rise last year against 2008 despite an almost 25% lower turnover. 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 RON against the European currency, and the decline in fuel volumes sold by the company. The economic crisis resulted in a decline by 5-10% in the volumes of petroleum and of diesel oil sold on the overall market, with the biggest decline recorded by the corporate segment, i.e. sales to big companies such as transportation ones. "Despite the difficult economic environment, MOL Romania preserved its market share in 2009, 11%. On the other hand, volume sales fell by 5%. The company's turnover amounted to around 450 million euros, down 23% against 2008(...)," said MOL Romania representatives.