Finance Ministry data show the 2017 revenue is 15% higher than in 2016. MOL operates in Romania via a 213 gas station network, which accounts for 18% of the fuel retail market.
“The 2017 figures are the result of the investments made in the previous years in order to increase the number of stations, turn the stations into services centers and in the development of the Fresh Corner concept. These results show sound growth,” MOL Romania officials said.
The company ended last year with 213 filling stations, 7 more than at the beginning of the year, according to the reports of the group.
MOL Romania implemented the Fresh Corner concept in 96 of its 213 stations, an idea launched in 2015. Fresh Corner sells food and various types of coffee.
One of the most important phases in MOL’s expansion in Romania was the acquisition of the 42 Agip stations Italy’s ENI had in the country as part of a regional deal in the first half of 2014. ENI left Romania in the wake of the deal, while MOL became the third leading fuel retailer also because of its greenfield expansion investments.
The company officials say the merger was finalized on December 15, last year.
Finance Ministry data also show that MOL Romania ended last year with RON183 million net profit, 19% higher than in 2016.
Besides traditional fuel retail, MOL started expansion with electric vehicle charging stations. It announced opening of the first such stations inside its Nicolae Caranfil Street gas station in Bucharest at the beginning of this year.
MOL is also working with Germany’s E.ON and a number of carmakers on a regional project that will see 250 stations installed in six European countries by 2020, 40 of which due to be installed in Romania. The project has already received EUR18.84 million EU funding and MOL expects 14 of the electric vehicle charging stations planned for Romania to be completed by yearend.
(English version by Loredana Fratila-Cristescu)