Mol Sees Retail Adding to Profitability in Shift From Fuel Focus
- Consumer business Ebitda may grow 12% to $400 million in 2018
- Company looking to further expand service-station network
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Mol Nyrt.’s consumer services division’s underlying profit is set to jump 12 percent this year as the Hungarian oil company boosts non-fuel revenue sources including its Fresh Corner markets, car-sharing and water bottling, Chief Operating Officer Peter Ratatics said.
Regional oil companies need to reposition themselves as a future of electric mobility and driverless technology alters the demand for fuel. Mol’s expanding in new business areas after reaping mixed results from some of its more traditional hydrocarbon ventures from the North Sea to Syria.