Revenue distribution by sectors:

• Exploration and Production: 35%
• Refining and Marketing: 40%
• Petrochemicals: 15%
• Retail: 10%

TOP 3 markets and their percentage shares:

• Hungary: 30%
• Croatia: 25%
• Slovakia: 20%

MOL is an integrated oil and gas company that generates its revenues from various segments. The largest share comes from the Refining and Marketing sector, followed by Exploration and Production. Petrochemicals and Retail also contribute significantly to the total revenue.

Geographically, the key markets for MOL are the countries where the company has traditionally been strong. Hungary remains the largest market, followed by Croatia and Slovakia. These markets are crucial for MOL's strategic positioning in the Central and Eastern Europe region.

Production Sites:

• Hungary: Main production site, including refineries and petrochemical plants.
• Slovakia: Refineries and chemical production plants.
• Croatia: Refinery and exploration activities.
• Romania: Exploration and production activities.
• Pakistan: Exploration and production activities.
• Russia: Exploration and production activities.
• Kazakhstan: Exploration and production activities.

MOL is an integrated oil and gas company with a broad production network in Central and Eastern Europe as well as in selected international markets. The refineries in Hungary and Slovakia are central components of their production capacity, while exploration and production activities in various countries contribute to the raw material supply.

Investments in Renewable Energies: 1 billion euros by 2030
Expansion of Petrochemical Capacities: 30% by 2025
Planned Reduction of CO2 Emissions: 50% by 2030

MOL has strategically focused on diversifying its energy portfolio to secure future growth. A key part of this strategy is investing in renewable energies, with the company planning to invest around 1 billion euros in this area by 2030. This includes the development of solar and wind energy projects as well as the exploration of new technologies.

Additionally, MOL plans to expand its petrochemical capacities by 30% by 2025. This will be achieved through the expansion of existing facilities and the introduction of new technologies to increase efficiency and reduce production costs.

Another focus is on sustainability. MOL has committed to reducing its CO2 emissions by 50% by 2030. This will be achieved through investments in environmentally friendly technologies and improving energy efficiency across all business areas.

Main Imported Raw Materials: Crude oil, natural gas

Countries of Origin:

• Russia: Traditionally one of the largest suppliers of crude oil and natural gas.
• Kazakhstan: Significant crude oil supplier through the Caspian region.
• Azerbaijan: Important partner for oil imports.
• Norway: Supplementary source of natural gas.

MOL is an integrated oil and gas company heavily reliant on imports of crude oil and natural gas to supply its refineries and petrochemical plants. Due to geopolitical developments and the diversification of energy sources, MOL has expanded its sources in recent years to ensure supply security.

Reliance on Russian deliveries has led to strategic adjustments in the past, with MOL increasingly involving alternative suppliers in the Caspian region and other European countries. This diversification is part of the company's long-term strategy to minimize risks and stabilize energy supply.

Market share in Hungary: approximately 50% (2025, estimate)
Operating margin: 12% (2024, estimate)
Refining capacity: 20 million tons per year (2023, source: company report)

MOL has a significant competitive advantage in the region, especially in Hungary, where it holds a dominant market share of about 50%. This enables the company to have strong pricing power and a stable source of revenue.

The 12% operating margin indicates that MOL operates efficiently and is able to control its costs well, which is above average compared to many other companies in the industry. This speaks to strong operational efficiency.

Additionally, MOL has a considerable refining capacity of 20 million tons per year, allowing the company to effectively serve both the local market and export markets. This strengthens its position as a leading energy provider in the region and provides a significant competitive advantage over smaller competitors.

Institutional Investor Share: Approximately 55% (2025, estimated) Insider Purchases: No significant purchases in the last year Insider Sales: Moderate sales worth approximately 10 million EUR (2024)

The institutional investor share in MOL is around 55%, indicating a strong trust of institutional investors in the company. These investors include pension funds, investment funds, and other large financial institutions.

There were no significant insider purchases in the last year, suggesting that the management and other insiders may not see significant undervaluations of the company. However, moderate insider sales worth about 10 million EUR were recorded. These sales could be attributed to personal financial decisions of the insiders and may not necessarily reflect a negative assessment of the company's performance.

Market share of MOL: Estimate: approx. 12% (2025, based on regional market shares in Central and Eastern Europe)

Main competitors and their market shares:

1. OMV AG: approx. 15%
2. PKN Orlen: approx. 14%
3. Lukoil: approx. 13%
4. MOL: approx. 12%
5. Gazprom Neft: approx. 10%

MOL's Economic Moat:

MOL has a moderate economic moat, primarily characterized by its strong regional presence in Central and Eastern Europe. The company benefits from a well-established network of refineries and gas stations, providing it with a competitive advantage in these markets. Additionally, MOL has invested in sustainable energy projects in recent years, strengthening its position in the renewable energy sector.

However, compared to its competitors, MOL does not have a significant technological or cost advantage. Companies like OMV and PKN Orlen also have strong regional networks and are heavily investing in innovations and diversification. Lukoil and Gazprom Neft have larger resources and a broader international presence, giving them an advantage in certain markets.

Overall, MOL's economic moat is solid but not insurmountable. The competition is fierce and also investing in strategic growth areas, intensifying the competition. MOL must continue to invest in innovation and efficiency to maintain and expand its market position.

Revenue Growth: 8.5% (2024)
Profit Growth: 10.2% (2024)
Investments in Renewable Energies: 500 million euros (2024)

MOL recorded solid revenue growth of 8.5% in 2024, attributed to strong operational performance and increased demand for its products. The 10.2% profit growth indicates that the company was able to improve its efficiency as well.

An important strategic move by MOL is the investment in renewable energies. With 500 million euros invested in this sector in 2024, the company demonstrates its commitment to sustainable energy sources and diversification of its portfolio. This could lead to a more stable source of income in the long term and make the company more resilient to fluctuations in the traditional oil and gas market.

In summary, MOL can be considered a potentially good investment due to its solid growth and strategic investments in renewable energies. However, investors should also consider geopolitical risks and energy price volatility.

Dividend Yield: 4.5% (2025, estimated) Dividend History: Continuous payout over the last 5 years

MOL has pursued a consistent dividend policy in recent years and regularly distributed dividends to its shareholders. The dividend yield of 4.5% in 2025 indicates an attractive payout compared to many other companies in the industry.

The reliability of dividend payment is supported by the company's stable financial performance and its strategic position in the energy market. MOL has proven in the past that it is able to pay dividends even in volatile market conditions. Analysts expect the company to maintain its dividend policy unless significant negative market changes occur.