OMV Group Report January – June and Q2 2018
Key Performance Indicators1
Group
- Clean CCS Operating Result increased by 10% to EUR 726 mn
- Clean CCS net income attributable to stockholders amounted to EUR 272 mn, clean CCS Earnings Per Share were EUR 0.83
- Positive organic free cash flow after dividends of EUR 88 mn
- High cash flow from operating activities of EUR 1.2 bn
- Clean CCS ROACE at 13%
Upstream
- Production rose by 81 kboe/d to 419 kboe/d
Production cost decreased by 13% to USD 7.6/boe
Downstream
- OMV indicator refining margin stood at USD 5.2/bbl
- Natural gas sales slightly decreased to 24.8 TWh
Key Events
- On April 29, 2018, OMV signed a concession agreement for the acquisition of a 20% stake in two oil fields in Abu Dhabi from ADNOC. The concession area consists of two offshore fields under development, Umm Lulu and Satah Al Razboot (SARB), as well as two satellite fields, Bin Nasher and Al Bateel. The agreed participation fee amounts to USD 1.5 bn and the duration of the contract is 40 years. The concession will be retroactively effective as of March 9, 2018.
- On May 30, 2018, OMV reached an agreement to sell its gas fired power plant in Turkey, OMV Samsun Elektrik Üretim Sanayi ve Ticaret A.Ş., to Yapisan Elektrik Üretim A.Ş., a subsidiary of Bilgin Enerji, based in Ankara. The parties have agreed not to disclose the consideration. The transaction is subject to the approval of the Turkish competition council and other Turkish authorities. Closing is expected in Q4/18 at the latest.
- On June 28, 2018, OMV closed the sale of its Upstream companies active in Pakistan to Dragon Prime Hong Kong Limited. The divestment represents a further step in optimizing OMV’s Upstream portfolio. The purchase price is approximately
EUR 158 mn.
1 Figures reflect the Q2/18 period; all comparisons described relate to the same quarter in the previous year except where mentioned otherwise
Background information:
OMV Aktiengesellschaft
OMV is producing and marketing oil and gas, innovative energy and high-end petrochemical solutions – in a responsible way. With Group sales of EUR 20 bn and a workforce of around 20,700 employees in 2017, OMV Aktiengesellschaft is one of Austria’s largest listed industrial companies. In Upstream, OMV has a strong base in Romania and Austria and a balanced international portfolio, with the North Sea, the Middle East & Africa and Russia as further core regions. 2017 daily production stood at approximately 348,000 boe/d. In Downstream, OMV operates three refineries with a total annual processing capacity of 17.8 mn tonnes and more than 2,000 filling stations in ten countries as of year-end 2017. OMV operates a gas pipeline network in Austria and gas storage facilities in Austria and Germany. In 2017, gas sales volumes amounted to 113 TWh.