Generating Value for Stakeholders

MOL Group generates a significant value in forms of revenues providing an outstanding return for its owners and shareholders. At the same time, MOL is one of the biggest tax-payer in Hungary and Slovakia, and distributes huge economic value to its suppliers, employees and other important members of the society.

The data presented here are reported based on GRI recommendations, consequently may differ from those published in the financial statements of the annual reports.

 

Revenues data (net sales plus revenues from financial investments and sales of assets) includes:

• Net sales (without VAT) equal gross sales from products and services minus returns, discounts, and allowances
• Revenue from financial investments includes cash received as interest on financial loans, as dividends from shareholdings, as royalties, and as direct income generated from assets (e.g., property rental)
• Revenues from sale of assets include physical assets (property, infrastructure, equipment) and intangibles (e.g., intellectual property rights, designs, and brand names)
• Gain on sales of subsidiaries
• Other operating income

Operating costs data (Payments to suppliers, non-strategic investments, royalties and facilitation payments) includes:

• Material type expenditure (material cost, material type services, cost of goods sold, inter-mediated services)
• Other operating expenses without tax type expenditures (mining royalty, taxes and contributions, crisis tax, penalty, environmental levy)
• Change in inventories of finished goods and work in progress;
• Work performed by the enterprise and capitalized.

Employee wages and benefits data (total monetary outflows for employees - current payments, not future commitments) includes:

• Wages and salaries
• Social security
• Other personnel expenses
• Pension costs and post-employment benefits
• Expense of share-based payments

Payments to capital investors (all financial payments made to the providers of the organization’s capital) include:

• Dividends to all shareholders
• Interest payments made to providers of loans
• Other foreign exchange loss
• Foreign exchange loss on borrowings

Payments to governments (all company taxes - corporate, income, property, etc. - and related penalties paid at the international, national and local level.) include:

• Corporate tax (excluded deferred income tax)
• Crisis tax (extra tax for Hungarian energy suppliers)
• Mining royalty
• Taxes and contributions
• Penalty
• Environmental levy

Economic value retained (profit for the future growth) includes:

• Depreciation, depletion, amortisation and impairment;
• Equity holders of parent;
• Others, the balance of those incomes and expenses that are not  part of the above mentioned items;

(VAT and excise duty are not included.)