DOCUMENTS FOR THE ANNUAL GENERAL MEETING
DOCUMENTS FOR THE ANNUAL GENERAL MEETING
DOCUMENTS FOR THE ANNUAL GENERAL MEETING
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MOL Plc. Annual General Meeting 2013 Documents<br />
…and increases in revenues<br />
of 30%<br />
Selective investments to<br />
strengthen captive markets<br />
Improve Croatian<br />
Downstream<br />
In our main growth markets, Serbia and Romania, we are extending<br />
our wholesale, retail and logistics presence in parallel. New<br />
initiatives were launched to increase sales of LPG, lubricants, fuel<br />
cards and implement the local market supply concept for further<br />
profit maximisation.<br />
Revision of our petrochemicals product portfolio resulted in new<br />
concepts in monomer and polymer sales. By making use of our<br />
production flexibility and marketing opportunities, we are aiming to<br />
achieve significant revenue growth for these product lines.<br />
Beside small and mid-scale projects in the New Downstream<br />
Program, MOL Group Downstream is committed to strategic<br />
investments in the region. Two projects were launched in 2012 by<br />
the Petrochemicals Division: a new butadiene extraction unit in<br />
Tiszaújváros with the strategic aim of improving olefin co-product<br />
value from 2015 onwards and the installation of a new LDPE unit by<br />
the end of 2015 in Bratislava, replacing three old, subscale units thus<br />
creating further benefits from Refining-Petrochemicals integration.<br />
We are also committed to further improving our retail network in<br />
the CEE region, with special focus on Romania, Serbia and the Czech<br />
Republic, to provide greater captive markets for our refineries.<br />
Secure sales are especially important in the oversupplied gasoline<br />
market, while higher margin contribution can improve Divisional<br />
profitability.<br />
Flexible operation of assets and short-term efficiency measures are<br />
aimed at improving Croatian downstream profitability. By<br />
implementing modernisation and efficiency improvement measures<br />
in the Logistics, Refining, Lubricants and Retail Divisions, INA is now a<br />
significant contributor to the MOL Group’s New Downstream<br />
Program.<br />
In the mid-term, a residue upgrade project is planned in the Rijeka<br />
refinery to increase the proportion of white product yield. A final<br />
investment decision is expected after basic design completion.<br />
GAS MIDSTREAM SEGMENT OVERVIEW<br />
The Division’s results decreased in full year 2012, since positive<br />
contributions from FGSZ and MMBF, on the back of increased<br />
international transit and commercial storage activities, were more<br />
than offset by increasing losses at our Croatian trading company,<br />
Prirodni Plin.<br />
FGSZ Ltd.<br />
FGSZ received an ITO licence<br />
- among the first in 2012<br />
In line with EU Directive 2009/73/EC, natural gas suppliers must<br />
operate independently of both holding companies and subsidiaries.<br />
FGSZ took the necessary measures to continue its system operations<br />
and gas transmission activities within the framework of the new legal<br />
23/94