Mol Misses Forecasts as Earnings, Reserves Shrink

摘要

Hungary's Mol on Tuesday reported a decline in full-year earnings and a desperately poor reserves replacement for 2016 but still managed to boost production and cut costs. The Budapest-based company said its clean earnings before interest, tax, depreciation and amortization (Ebitda) fell to $2.15 billion in 2016, down 14 from $2.5 billion from a year earlier due to low oil and gas prices and missing analysts' expectations (IOD Feb.25'16).