Markets in Romania and Croatia were weak in terms of sales, as these countries raised fuel excises at the end of the first quarter last year, the group said.
Diesel fuel sales declined 1% last year, from 365,000 tons in 2013 to 363,000 tons, while gasoline sales dropped 3%, from 133,000 tons to 129,000 tons.
In the fourth quarter of 2014, MOL’s total fuel sales in Romania dropped 2%, to 128,000 tons from 130.000 tons in the last quarter of 2013. Diesel fuel sales declined 2% in the fourth quarter, to 92,000 tons from 94,000 tons, while gasoline sales dropped 3%, from 34,000 tons to 33,000 tons.
MOL’s net sales revenue dropped 13%, to $20.97 billion in 2014, from $24.14 billion in 2013, while its EBITDA (earnings before interest, tax, depreciation and amortization) declined 24%, to $1.77 billion from $2.32 billion, the group said in its earnings report.
In local currency, sales revenues declined 10%, to HUF4.869 bilion, and the group’s EBITDA declined 21%, to HUF409 billion.
At the end of last year, MOL had 159 filling stations in Romania. Early February, the Hungarian group completed its takeover of 42 gas stations from ENI Romania, owned by Italy’s Eni.