Press Releases

Chairman of the Board of Directors and CEO of Slovnaft Oszkár Világi and CEO of Tatneft Nail Maganov signed a memorandum of cooperation during the Slovak business mission in Kazan (Tatar Republic of Russian Federation) on July 3, 2019. The signed document specifies the areas of possible joint projects - the production of biocomponents for motor fuels, modified bitumen and lubricants. The areas of partnership in the Downstream sector have been determined during the meeting of the TATNEFT management with representatives of the MOL Group (which includes Slovnaft) at the site of the TANECO Refinery and Petrochemical Plants Complex in January of the current year.

The signing of the memorandum took place on the occasion of the meeting of the President of the National Council of the Slovak Republic Andrej Danko with the President of the Republic of Tatar Rustam Minnichanov, who is also the Chairman of the Board of Directors of Tatneft. "Tatneft is a leading oil company in Russia. Cooperation with Slovnaft in the framework of the signed agreement has a number of directions, but we also have worked together in the past. This agreement, however, has given an official status to our cooperation and we welcome it," said Tatar President Rustam Minnichanov.

“The concrete result of the meeting is also a pilot project of our unique product – rubber bitumen. In the next few weeks, the selected section of the road in Kazan will be put on the rubber bitumen test and the partners can test it in reality. It is an innovative product that has been developed at MOL Group level. Rubber bitumen reduces road maintenance costs, increases road life and has an ecological dimension as it uses worn tires,” said Oszkar Világi, Chairman and CEO of Slovnaft and Group Chief Innovation Officer.

Tatneft is the sixth largest oil and gas company in the Russian Federation with activities on domestic and foreign markets. Its activities include exploration and production of hydrocarbons, crude oil processing, tire production, operating its own network of over 600 fuel stations, petrochemicals and banking services. One of the most significant projects of the company is currently the construction of the refinery and petrochemical complex TANEKO (NPiNHZ complex) in Nizhnekamsk with state-of-the-art oil processing technologies.

PHOTO: Chairman of the Board of Directors and CEO of Slovnaft Oszkár Világi (left) and CEO of Tatneft Nail Maganov

• Czech start-up Neuron soundware raised 5.75million Euros to further expand its business activities
• ČEZ Group and MOL Group through investment funds and Hungarian Eximbank acquired minority stake
• LEAD VENTURES and INVEN CAPITAL and strength their positions in CEE region start-ups environment

Prague, June 27th 2019

LEAD VENTURES, Budapest based venture capital firm, together with MOL Group, Hungarian Eximbank and INVEN CAPITAL, ČEZ Group investment fund, have acquired a minority interest in Neuron soundware, the Czech based market leader in industrial machine diagnostics based on acoustic analysis. The company develops and markets advanced hardware and software for predictive maintenance, enabling timely detection of failures and optimisation of operations. As a result of the transaction Neuron soundware raised 5.75million Euros to further expand its business activities. The former investor, J&T Ventures also joined the current investment.

Neuron soundware was founded in February 2016 in Prague. It currently employs twenty experts and its revenues amounted to almost half-million Euro last year. It delivers smart diagnostic solutions based on the acoustic analysis of machines in several industries including the energy sector. The solution uses artificial intelligence to recognise impending mechanical problems in machines, thereby preventing breakdowns of critical manufacturing equipment.

Today, systems supplied by Neuron soundware are being implemented into operations of several large global corporations, such as Daimler, BMW, Innogy, E.ON, Airbus, and LG. In the energy sector, Neuron soundware has a sizeable implementation with a fleet of more than 20 large combined heat and power units for several customers in the Czech Republic.

„We are passionate about the Neuron story and the team. Predictive maintenance is a hot topic for many complex industrial systems, however, practical solutions are still hard to find. The Neuron technology could be a game changer in this space, having substantial impact on industry efficiency across several verticals.” – says Abel Galacz, CEO of LEAD VENTURES.

„Neuron is one of a few companies in acoustic emission analysis which is able to compete with top class Israeli and US companies. During its short existence it has developed an unique database of sounds which are used for training of its proprietary neural networks,“ says Petr Míkovec, managing director of INVEN CAPITAL.

“We know exactly how pumps, gearboxes, cylinders, electromotors, or compressors should sound. The sounds of all regular components of a machine are stored in a database. But that is not enough, our artificial intelligence software is able to distinguish problem noises from regular process hum and surrounding sounds, giving the customer the certainty that the machine will not pull off any unpleasant surprises,” says Pavel Konečný, founder and CEO of Neuron soundware, revealing the secrets of his know-how.

Over its more than four years in business and investing in energy start-ups, INVEN CAPITAL has acquired the reputation of a qualified and capable investor that supports start-up companies in the smart energy sector. Great management team, the portfolio of its invested companies, the fund’s performance, and successful due diligence were behind the decision of the European Investment Bank (EIB) to form a joint investment structure with INVEN CAPITAL, in which EIB undertook to entrust EUR 50 million in INVEN CAPITAL’s management.

Lead Ventures, a Budapest-based venture capital firm, invests via its Enter Tomorrow Europe fund backed by MOL Group and Hungarian Eximbank. With EUR 100 million under its management Lead Ventures is actively seeking scale-up investment opportunities in the CEE region with unique stories having outstanding growth potential and global reach.

“Start-ups from Central Europe, which have already been tested, have great potential to break through in global markets. As part of our strategy, we are looking for innovative solutions that can increase effectivity of technical processes in industrial services. Like our recent entry into Slovak GA Drilling, our entry into Czech Neuron Soundware is an example of a successful connection of small start-ups with a strong international company for further growth,” said Oszkár Világi, MOL Group Chief Innovation Officer.

Neuron soundware is now focusing on scalability of successful use cases and deployment of pre-trained AI algorithms to monitor large quantities of machines like engines, compressors, pumps, turbines, robots etc. This strategy is supported by provision of easy-to-implement monitoring solution that can be up and running in just weeks and financed via an affordable monthly fee charged per machine, i.e., solution as a service. To maintain the international expansion, Neuron soundware is now hiring for a number of new positions for its Prague main office and it also expects the need for building sales and support business unit in Germany to serve better local major clients like Airbus, BMW or Siemens. Besides direct sales, Neuron soundware will continue to build its partnership network, in Europe, but also in the Middle East and Asia. Mainly due to Brexit, Neuron soundware has recently established a new business entity NeuronSW SE, headquartered in Prague, the Czech Republic, which will take over all business activities and liabilities and eventually fuse with the current major entity Neuron SW Ltd., headquartered in London, United Kingdom.

The Slovak Battery Alliance (SBaA) has been founded in Slovakia with intention to become really involved in the battery value chain in Europe and ensure that the batteries placed on the market are not only competitive, high-quality and safe, but also sustainable and recyclable.  Slovakia has hereby at the same time declared ambitions to develop a competitive battery ecosystem from research through manufacture to recycling. The SBaA Memorandum of Association was signed by nine entities. For Slovnaft, it was signed by CEO Gabriel Szabó. ”Slovnaft has been at the birth of the idea to establish  and views it as a platform that may be instrumental on the way of transformation. This initiative is at the same time in line with the MOL Group Strategy 2030 taking into account a gradually decreasing demand for traditional fossil fuels at the expense of alternative types of energy,“ said G. Szabó at a press conference.  According to experts` estimates, the battery market value as from 2025 will be up to €250 billion and will be rapidly growing. Also, batteries will be necessary goods for every economy and their manufacture in Europe will be necessary to cover the enormously growing demand and reduce the dependency on non-European production.

• National Bank of Slovakia has approved the proposal of MOL's offer for voluntary purchase of 1.44% of Slovnaft shares owned by minority shareholders on 3 May
• the purchase price per share is set at EUR 84, which is above the 12 month average stock prices for which the shares were traded on Bratislava Stock Exchange till the announcement of MOL’s voluntary bid intention
• the offer applies to all minority shareholders of Slovnaft, thus provides liquidity for a favorable exit
• the purchase offer is valid from today and lasts for 70 calendar days

Bratislava, May 10^th  2019 - MOL Group has received a notification from the National Bank of Slovakia approving the proposal for the offer to buy out shares of Slovnaft company. All minority shareholders thus have the possibility to sell their shares through one of the stock brokers who are members of the stock exchange as of today. If a natural or legal person holds shares in Slovnaft and would like to take advantage of this offer, they should contact their broker within the next 70 days.

Transactions concluded within this offer will be settled financially and materially upon the expiry of the term of the offer in accordance with the stock exchange rules and the operating rules of the Slovak Central Depository (Centrálny depozitár cenných papierov SR, a.s.).

The method of concluding the share purchase agreement will be made in accordance with the stock exchange rules.

Further information on the acceptance of this offer can also be obtained from the authorized securities broker, OTP Banka Slovensko, a.s., at ppoinfo@otpbanka.sk.

Currently, 98.56% of Slovnaft shares are controlled by MOL company. The remaining 1.44% of the shares are owned by minority shareholders, most of whom are private individuals. The aim of the offer is to provide minority shareholders with the possibility to obtain immediate liquidity for their shares at favorable terms and potentially increase MOL’s participation up to 100%.

About MOL Group

MOL Group is an integrated, international oil and gas company, headquartered in Budapest, Hungary. It is active in over 30 countries with a dynamic international workforce of 26,000 people and a track record of more than 100 years in the industry. MOL’s exploration and production activities are supported by more than 80 years’ experience in the hydrocarbon field and its diverse portfolio includes oil and gas presence in 13 countries, with production activity in 8 countries. MOL Group operates four refineries and two petrochemicals plants under integrated supply chain management in Hungary, Slovakia and Croatia, and owns a network of around 1,900 service stations across nine countries in Central & South Eastern Europe. MOL Group is a supplier of polymer products such as polypropylene, low-density and high-density polyethylene with more than 1,000 kt annual sales.

Contacts for media
@: anton.molnar@slovnaft.sk
T: +421905393161

• extensive inspection of the technical condition and maintenance have been planned in advance, they are not connected with current problems with crude oil supplies
• the maintenance will take about two months
• within the framework of the spring general reviews and technological breaks, Slovnaft is investing more than €67 million in its facilities

BRATISLAVA, 26 April 2019 – At the end of this week, Slovnaft will shut down some of its production facilities. The reason for this is the regular general maintenance and technological breaks that ensure the smooth operation of the technology. Together 21 production units will be shut down gradually. Their relaunch into full production is scheduled for the second half of June.

During the turnaround, there will be an extensive inspection of the technical condition and maintenance of the facilities, as well as their modernization. The goal is to reduce the energy intensity of oil products and increase safety and reliability. The total investment of Slovnaft in the framework of general reviews exceeds €67 million. In terms of costs, historically these are the biggest shutdowns in the Bratislava refinery.

Work during the general reviews may be accompanied by increased noise levels, odour and eventual burning on gas flares. The aim of Slovnaft is to reduce the negative impacts of activities reducing the comfort of the residents living near the refinery to the minimum necessary. Slovnaft will continuously report on the impact of the work on the comfort of the residents on the website www.slovnaft.sk/gr2019. Information for the public will be updated every week, the 24-hour infoline on 02/4055 8929  or e-mail gr2019@slovnaft.sk are available for questions.

The main supplier is the subsidiary Slovnaft Montáže a Opravy. During the turnaround, there will be around 1500 external employees working in Slovnaft.

Slovnaft customers were informed in advance about the turnaround of  part of the Bratislava refinery.

• The decision will help MOL simplify its ownership structure and decrease administrative burden
• Through the public offer minority shareholders will benefit from immediate liquidity of their shares at favorable terms
• The voluntary takeover bid is subject to approval of the Slovak National Bank

Bratislava, 12 April 2019 - Today, MOL Group announced its decision to make a voluntary public offer to the shareholders of SLOVNAFT, a.s. for all outstanding shares not yet held by MOL. Through this step, MOL aims to further simplify and streamline its ownership structure and decrease administrative burden connected to SLOVNAFT’s listing on the Bratislava Stock Exchange. Further details will be shared upon its approval by the Slovak National Bank.

Currently, 98.56% of Slovnaft shares are controlled by MOL. The remaining 1.44% of shares are owned by minority shareholders, a major part being private owners. Due to low trading volume of Slovnaft shares, through the voluntary public offer minority shareholders will be given the opportunity to benefit from immediate liquidity of their shares at favorable terms.

The takeover bid is subject to approval of the Slovak National Bank. The starting date of the voluntary public offer period will be communicated upon the approval of the Slovak National Bank.

• From 1 April, Slovnaft BAjk will offer a new portfolio of programs for bicycle sharing users in Bratislava
• The offer includes programs covering long-term and short-term use of the service

BRATISLAVA, 29 March 2019 – In the 2019 cycling season, the bicycle sharing service Slovnaft Bajk, available in Bratislava, will have a new price list. The offer will launch at the beginning of April and it includes passes covering long-term and short-term use, as well as student passes. There will be more bicycles available for users, and numerous initial bugs which were identified during the testing phase have been fixed to ensure a trouble-free new season.

In the new cycling season, users will be able to choose from three standard programs depending on how often they use the bicycle sharing service. The "KLASIK" program is ideal for those who use Slovnaft BAjk as a complementary means of transport along with public or individual transport. Users can choose an annual pass for EUR 29.40 or a monthly pass for EUR 9. Both passes cover an unlimited number of rides within a 30-minute period and with EUR 0.60 credit. Rides over 30 minutes are subject to a fee of 12 cents for each completed 6-minute ride and the final amount will be withdrawn from the user's credit. The credit needs to be topped up.

Users and tourists interested in a single use of the Slovnaft BAjk service can choose a one-day pass for EUR 6. In this case, users buy a PIN code valid for 24 hours, during which they can use the bicycle sharing service. Single-use passes require the user to pay a deposit of EUR 70 that will be blocked from their account. This program includes unlimited rides over a 12-hour period, after which the user will pay 12 cents for each completed 6-minute ride. The amount will be deducted from the deposit and the remaining amount will be returned to the user's account.

"PREMIUM" is a program ideal for frequent users of Bratislava's bicycle sharing service. The pass costs EUR 38.40 and covers all rides under 60 minutes and a credit of EUR 2.40. For rides over 60 minutes, the fees valid for other programs apply. Slovnaft BAjk also thinks about students, teachers and young people. If you are a holder of an ISIC, ITIC or EURO26 card, you are entitled to a discounted annual pass and you can rent yellow bikes for EUR 19.20.

All PIN codes purchased during the testing phase will remain valid until 30 April, and they can be used from May only when users prolong their promo program in their profile with one of the programs valid for the new cycling season. In such case, the users will not lose their unused credit from the testing phase, instead it will be added to the credit within the new selected service.

Students, teachers and young people cannot prolong their program. In this case it is necessary to purchase a new program using an ISIC, ITIC or EURO26 card number. They will not lose their unused credit from the testing period, since the provider is preparing a functionality ensuring credit transfer between respective programs in their profile on the service page or in the mobile application.

The new price-list reflects what was expected from the beginning: that, after the testing phase, during which users could use Slovnaft Bajk services just for €1, the fees for the service are reaching an adequate value.

Slovnaft BAjk has become a popular means of transport along with public and individual transport in the capital city. More than 41,000 users have registered since the launch of the service, making more than 220,000 rides in total. Shortly after the service's launch, a community of users formed which helps us to identify bikes or docking stations with malfunctions and actively suggests tips for improvement. It is also thanks to our users that we made the locking system easier, modified the bike's display information, made the information on the number of bikes on our website clearer, expanded the info line's competences, strengthened the smart locks and their reliability, installed seats for taller people and improved the user interface of online user profiles. The mobile application will be available to users from the second half of April. We initiated increasing the number of bicycles in the streets of Bratislava at the beginning of March. At that time there were 250 bicycles available and the number is still increasing. A fleet of 400 bicycles will be available during April. The highest number of bicycles is expected during the summer months. New docking stations will be added to 4 city districts in which the system is currently in operation. We have moved forward in removing the issue of “ghost bicycles”, which was a significant loss of reliability of this service from the point of view of users. The error rate of available bicycles indication has been decreased by approximately 50% and we expect that that percentile will increase even more rapidly in the coming months.

• Talented young people can also receive a grant in the field of art, science and sports this year
• Slovnaft and the Central European Foundation have redistributed 66,000 euros in the 12th year
• Within the program, over 350 young talents have been supported at almost 720,000 euros for 11 years

BRATISLAVA, 5 February 2019 - Talented children and young people can join the Talents of New Europe grant program by 25 February 2019. Slovnaft and the Central European Foundation are also re-distributing 66,000 euros among gifted talents.

The Talents of New Europe Grant Program is designed for everyone from 8 to 25 years of age, who excel in their talents and who want to continue in the field of art, science or sports. The financial support can be used to buy a musical instrument, sports equipment or scientific equipment or participate in competitions, workshops and courses where they represent not only themselves but also Slovakia. Many of these events are held abroad and for many families with gifted children participating in these events is financially demanding. For this reason, Slovnaft and the Central European Foundation see great importance in supporting talent who are already achieving excellent results.

In the 11th Talents of New Europe, 24-year-old Dominik Bari, whose Oymyakon documentary reached the top 80 best documentaries in the world, has been supported by the American Academy of Arts, and has qualified for the Oscar. He spent the week in the coldest place on our planet, where they measured the lowest temperature at -71.2 °C.

“It is very inspiring for us to see what these young people are capable of managing in fulfilling their visions. The fact that they are successful gives us the incentive to continue the program,” said Szilvia Czuczor, CEO of the Central European Foundation.

It also supported 16-year-old Ondrej Vrabel, who developed applications for children with special needs, and Pinf Games presented these at an international forum in Singapore. Currently, 23 games are available in 13 languages and are used in approximately 1,500 homes in Slovakia.

“Our long-term goal is to support those who have the chance of succeeding in international competitions as well. We know that it is demanding, as we are one of the top exporters in Slovakia. We believe that through the grants we contribute not only to the development of exceptional talent but also to the positive image of our country,” said Anton Molnár, spokesman and director of Slovnaft’s Corporate and Marketing Communication. 

Altogether, 350 young talents have been supported under the Talents of New Europe Grant Program, for which almost 720,000 euros has been redistributed. Last year, 54 children and young people out of 185 were supported, including 30 in sport and the remaining 24 in science and art.

For more information on Talents of New Europe, visit www.tne.sk

Bratislava, 30 November 2018 – Slovnaft is again the most trusted brand in the filling station segment. This has been decided by Slovak consumers in one of the most extensive surveys focused on customer trust. At the turn of September and October, 2,000 respondents became involved in the 3^rd annual marketing program to rate nearly 420 brands in 47 categories.  

A survey conducted by the research agency Nielsen has shown that Slovak consumers are relatively constant and loyal when it comes to trust. Out of 35 “traditional categories”, as many as 25 last year winners have defended their primacy. The filling stations category was included in the rating for the second time and Slovnaft was again its winner.

Slovnaft operates in the Slovak market the country´s biggest network of 253 filling stations. Modern Fresh Corner shops and cafes are located in the majority of them. In addition to fresh coffee, these also offer on-site baked sweet and salt pastry and fast snacks.

• on 6 January, Dakar Rally starts its 41st edition in Lima, Peru
• the expedition´s motorcycle and accompanying vehicles set sail to South America on 23. November, with SLOVNAFT Rally Team scheduled to fly to Peru in late December 2018.

The most successful Slovak motorcycle racer, triple European champion and a fresh 20-time endure and cross-country Slovak champion, Štefan Svitko, will be racing in the prestigious Dakar Rally once again in the colours of Slovnaft Rally Team.

This will be his jubilee tenth start in the world´s toughest motor race. The upcoming 41^st annual Dakar starts on 6 January in the Peruvian capital Lima, where the race is also slated to finish on 17 January 2019. This annual race will also be unique in that the entire rally will occur in Peruvian territory only. The route length is some 5,000 kilometres, of which as much as 70% are sandy roads.

In this race, Štefan Svitko will also seek to deliver the best possible result. Following his last year´s fall, he is already well health-wise and at the moment fully occupied with getting prepared. “I am planning on making best use of the end of the year to get prepared. I would like to fly to South America with a feeling that I am prepared in physical and mental terms alike. I had trained the sand dunes ahead of us in Peru in Morocco where I had been virtually during the whole of October. I do know what I am going to undergo, nevertheless the rough conditions may always take by surprise with something new, Accordingly, Dakar is always the biggest challenge.”

In August, Štefan defended his last year´s win in Serres Rally 2018 where he won on all of the seven competition days of this Greek adventure. The hot Peruvian Dakar will put through their paces not only Štefan´s fitness and riding skills but also the motorcycle whose flawless running will be provided by MOL Dynamic oils, including motor oils intended even for extreme operating conditions.

Svitko will start with number 11 on the latest KTM 450 Rally Replica with factory support from the motorcycle manufacturer outright at the Dakar. Within SLOVNAFT Rally Team, Štefan will be seconded at the Dakar by the well-proven pair - mechanic Zlatko Novosád and Martin Kubačka in charge of logistics and information transfers from the current event back to home in Slovakia. Other team members proven through last year´s Dakar will include Dominik Žažo and Dominik Guláš.

Since his 2010 Dakar premiere, Štefan Svitko has taken part in all the annual races with Slovnaft´s support. At his very first Dakar event, he came thirteenth in the motorcycle category, becoming the most successful newcomer. The following year, he failed to finish Stage 8 owing to a motorcycle breakdown and had to resign. Two years later, he had an unpleasant fall and dropped out of the race just three stages to go. In 2013, he came in ninth place yet in 2012 and 2015 he took the fifth rungs overall. In 2016, he triumphed in second place. Last year, he untimely called it a day at Dakar after a horrible fall in Stage 10 and for an arm injury.

The Slovak representative´s fans can watch the current goings-on throughout the race, including interesting behind-the-scenes information, at: www.facebook.com/StefanSvitkoFanklub.

Contact:

Anton Molnár
Head of Corporate and Marketing Communications
phone: +421 905 393 161