• Slovnaft shareholders approve two euros per share dividend at their annual meeting
• Total EUR 41.25 million to be paid out as dividends
• 2014 loss to be covered by retained earnings

BRATISLAVA, 15 April 2015 – Shareholders at SLOVNAFT a.s. decided today at their annual meeting to have the company pay out dividends of two euros per share from the company’s retained earnings. The total amount to be paid out by the company in dividends is EUR 41.25 million.

A dividend will be paid out to any individual or legal entity recorded by the Central Securities Depository of the Slovak Republic (CDCP) as holding shares in SLOVNAFT, a.s. as of 22 April 2015 (the decisive date for determining entitlement to dividends) or that has established on or before that day a holding account in accordance with Sec. 105a of Act 566/2001 Coll. on Securities, as amended. A dividend is payable within 60 days of the decisive date for determining entitlement to a dividend, which in this case is 22 April 2015. In the event that a shareholder fails to claim the dividend as provided in policies for the payout of dividends, the unpaid dividend will be deposited into the account of SLOVNAFT, a.s. and retained for four years.

Shareholders also discussed today the annual report of SLOVNAFT, a.s. approving both the company’s separate and consolidated financial statements for 2014. The reported loss in 2014 will be covered from its retained earnings.

Gabriel Szabó and Vladimír Kestler were re-elected at the annual shareholders' meeting to serve as members of the executive board. Members of the company’s executive board serve five-year terms.

Slovnaft’s majority shareholder is MOL, an international oil and gas company that owns 98.4% of Slovnaft, with others holding the remaining 1.6% of shares.

Press Contact:
Anton Molnár
Spokesperson and Director of Corporate and Marketing Communications SLOVNAFT, a.s.
Tel: +421 905 393 161
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

• results for the first nine months of the year remain under the influence of adverse developments in the external environment and overhauls at refinery
• the network of Slovnaft petrol stations was extended by two new retail stores, the total number of petrol stations increased to 214
• the volume of investments by end-September rose more than threefold to €147 million

BRATISLAVA, 6 November 2014 – The SLOVNAFT Group completed the first three quarters of this year with a slight loss of one million euros. Results from January to the end of September were adversely affected by overhauls, for which the volume of production and sale of petroleum products decreased this year, as well as adverse developments in the external environment. Net revenues of the SLOVNAFT Group at the end of the third quarter decreased year on year by 16 percent to 3.03 billion euros. On the contrary, the volume of investments that the company has made within the overhauls, the reconstruction of production units and the ongoing construction of a new production line for polyethylene LDPE4 more than tripled to 147 million euros.

"In the coming period, we expect a more complicated situation in the area of ​​revenue creation, as the following months bring a traditionally lower demand for oil products, as well as worsening movement of the products prices and crude oil prices on international commodity exchanges. The potential negative change of the security situation in Ukraine can make the situation even more complicated, which could result in a steeper rise in energy prices, which are the most important refinery cost items in addition to crude oil," said Chairman and CEO of SLOVNAFT, a.s., Oszkár Világi.

In the first nine months of this year, Slovnaft processed 3.81 million tons of crude oil in the Bratislava refinery, which was 14 percent less than the same period in 2013 due to overhauls. Year-on-year motor gasoline production in the three quarters of the year fell by 23 percent to 840,000 tons. The production of diesel fuel was also reduced to 1.78 million tons. Conversely, a modest 1 percent increase to 245,000 tons was evidenced in the production of petrochemicals.

Sales of SLOVNAFT Group's petroleum products from January to the end of September fell year on year by 13 percent to 3.97 million tons. From this volume, almost three quarters were directed for export. However, the actual sales on foreign markets decreased, while domestic sales increased by 2 percent to 1.12 million tons.

At the end of September, the company operated 214 petrol stations in Slovakia. In the third quarter, the company opened the Štrba motorway pertrol station and one petrol station in Bratislava. Within the MOL Group, Slovnaft also ensured the operation of almost 150 petrol stations in the Czech Republic under the names of PAP OIL and Slovnaft.

• The two companies made a non-binding joint bid to purchase 66% of SE shares owned by ENEL
• The partnership would strengthen the security of supply in the CEE region
• A successful bid would open-up new export opportunities
• The transaction is in line with the EU’s single energy market plans

Bratislava, SLOVAKIA - 20th November 2014 – Slovnaft (a member of the MOL Group) and the MVM Group made a joint non-binding bid for the purchase of 66% of the Slovakian Slovenské elektrárne (SE) a.s shares, currently owned by ENEL SpA.

The bid is in-line with Slovnaft’s overall long-term business strategy to maintain and further strengthen its positions in the regional energy market by diversifying its oil and gas portfolio.

With this regional partnership the vertically integrated energy company MVM Group aims to develop further and expand its business portfolio in the CEE region. MVM Group has also more than 30 years of experience in nuclear power plant operation.

Both Slovnaft and MVM Group see great potential in managing SE’s nuclear and water plant capacities as both companies aim to provide emission-free energy to regional markets.

Acquiring the stake in SE would strengthen the security of supply of the CEE region both in the field of electricity and natural gas contributing to the development of the EU's single energy market.

A successful bid would also open-up new export opportunities to regional markets and would also facilitate the creation of additional working places in the mid-term.

About Slovnaft

SLOVNAFT Group is an integrated refinery-petrochemical group. It´s key company is SLOVNAFT, a.s. dealing mainly with refining in one of the most complex European refineries and with the wholesale and retail sale of motor fuels. Slovnaft operates the largest network of filling stations in Slovakia. The company is a leader in Slovakia in the field of CSR and corporate philanthropy, significantly supports sport, culture, education, youth and revitalizing of environment. SLOVNAFT Group is a member of international MOL Group.

About MVM Group

The MVM Group is a vertically integrated regional player with more than 50 years of energy industry experience. Its strategic mission is to guarantee the security of energy supply to the CEE Region and at the same time - due to its significant system balancing reserves - to ensure the stability of the regional power system and the maintenance of its capacities. The MVM Group’s portfolio covers electricity production, trade and transmission and also natural gas trade and storage services. MVM has the know-how of building, operating and developing (uprating) nuclear power plants. The company is currently managing a lifetime extension program to extend the operational life of its four nuclear units in Paks which are similar to the units operated by SE. MVM Group´s annual revenues reach over EUR 3 billion and with total assets roughly around EUR 4.7 billion.

About SE

With a market share of appr. 80%, SE is the leading power generator in Slovakia with a total installed capacity of 5,740MW and a balanced generation mix comprising nuclear, hydroelectric, conventional thermal facilities and photovoltaic plants.

Press contact

Judit Németh
MOL Group International Communications Expert
m: +36 20 254 5169 | @: This email address is being protected from spambots. You need JavaScript enabled to view it.

Tamás Berzi
MOL Group International Communications Expert
m: +36 20 409 7632| @: This email address is being protected from spambots. You need JavaScript enabled to view it.

• Capital investments in the petrochemical segment and to raise production efficiency and quality as part of a general overhaul
• Refinery performance affected mainly by turnarounds, profits hit by worsening pricing conditions in commodity markets
• Petroleum product sales and production fall, while exports to foreign markets dominate

BRATISLAVA, 1 August 2014 - SLOVANAFT continued its strong investment in the first half of 2014, with capital expenditures reaching EUR 99 million. More than threefold year-to-year growth has been supported by investments in the petrochemical segment, especially into the construction of the new LDPE 4 polyethylene production plant and spending on planned turnarounds to increase production efficiency and quality and maintain operational reliability. An extensive shutdown of production units led to a drop in production volume and consequently also petroleum product sales, resulting in a 19% decline in first half sales revenue at the SLOVNAFT Group to EUR 1.89 billion. A loss was reported in the first six months of this year of EUR 18 million.

“Slovnaft’s refinery performance in the second quarter was affected by planned turnarounds carried out on key production units in the company,” said SLOVNAFT, a.s. Chairman and CEO Oszkár Világi. As a result, crude oil processing reduced and as a consequence both production and sales of finished products decreased, which was partially compensated by higher sale of inventories. Besides operation, our financial performance was influenced by shrinking difference between the quoted price of diesel, which represents half of the Bratislava refinery's production, and the price of crude oil on international commodity exchanges.”

In the first six months of this year, Slovnaft’s Bratislava refinery processed 2.37 million tonnes of crude oil, a 17% drop compared to the same period in 2013 and caused by the general overhaul. Automotive diesel production in the first half fell to 538 thousand tonnes, a 22% drop compared to the same time last year. Production of diesel fuel fell 17% year-to-year to 1.25 million tonnes, while a 5% decline was also reported in production of petrochemical products, to 148 thousand tonnes.

SLOVNAFT Group's sales of petroleum products for the period from January to the end of June decreased 15% year-to-year to 2.48 tonnes. Of this volume, nearly three-quarters was destined for export. There was a drop in foreign market sales, while domestic sales rose 4% to 707,000 tonnes.

Almost half of total investment volume went to the refinery segment. “The successfully finished plant overhaul, as well as further investments upgrade of one of our key production units, additionally created a space for SLOVNAFT to operate at full capacity in the upcoming period,” added SLOVNAFT, a.s. Chairman and CEO Oszkár Világi.

At the end of June, the company was operating 212 service stations in Slovakia. The first half of the year saw the completion of a new motorway service station, which is expected to open in the third quarter. As part of the MOL Group, Slovnaft also operates almost 150 petrol stations in the Czech Republic under the PAP OIL and Slovnaft brands.

About SLOVNAFT Group

SLOVNAFT Group is an integrated refinery-petrochemical group. It´s key company is SLOVNAFT, a.s. dealing mainly with refining in one of the most complex European refineries and with the wholesale and retail sale of motor fuels. Other members of the Group are SLOVNAFT MONTÁŽE A OPRAVY a.s., SLOVNAFT TRANS a.s., VÚRUP, a.s., CM European Power Slovakia, s.r.o. and other companies. Slovnaft operates the largest network of filling stations in Slovakia. The company is a leader in Slovakia in the field of CSR and corporate philanthropy, significantly supports sport, culture, education, youth and revitalizing of environment. SLOVNAFT Group is a member of international MOL Group. Further information available at www.slovnaft.sk

Press Contact:
Anton Molnár
Spokesperson and Director of Corporate and Marketing Communications
cell: +421 905 393 161