ZF English

MOL boasts 38.5% surge in turnover

14.11.2006, 19:36 8

MOL Romania, the local branch of Hungarian petroleum group MOL, reported a 38.5% surge in sales over the first nine months against the corresponding period of last year.
"This rise in sales was prompted by the expansion of our distribution network, the acquisition of Shell, as well as by an increase in fuel sales posted by each petrol station," the MOL representatives said, after the group announced its nine-month worldwide results.
The company increased its market share to 14% over the 9 months, up 1% against initial forecasts of 13%. Presently, MOL has the second-largest market share among local players in its field, according to the company's own estimates.
MOL Romania's officials made no comment on the nine-month financial results by edition close.
The Hungarian-owned group currently has 139 filling stations on the domestic market, which ranks as the third-largest in MOL's portfolio, after the networks in Hungary and Slovakia. The company announced it would make a 12 million-euro investment to expand and improve its network next year.
MOL's network expansion also accounts for the 33.5% surge in sales reported by the stores within the MOL Romania filling stations.
The company estimates turnover will exceed half a billion euros by the end of the year, up 23% against the corresponding period of last year.
The main factors responsible for the company's growth, besides the takeover of Shell network, are the surges in diesel oil sales as well as the launch of new products introduced last year, which contribute towards this year's financial results.
The fact that petroleum companies usually derive most sales during the second half of the year has also played a part in the upturn of sales derived by MOL. The company's sales amounted to 263 million euros in Q1, rising by 60% against the corresponding period of last year.
Company officials have recently stated that the non-oil segment (food, beverages and other products sold through the filling stations' stores) will become highly profitable. Although fast-food products currently account for only 5% of the total sales reported by their outlets, this share is predicted to increase significantly, say the company's representatives.

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