Menu

Austria: OMV Group Posts Positive Q2 2017

Austria: OMV Group Posts Positive Q2 2017

Key Performance Indicators

 

Group

  • Clean CCS Operating Result doubled to EUR 662 mn
  • Clean CCS net income attributable to stockholders amounted to EUR 282 mn, clean CCS Earnings Per Share were EUR 0.86
  • Operating Result and net income were negatively impacted by recycling of FX losses following the divestment of OMV Petrol Ofisi
  • Strong free cash flow after dividend payments at EUR 747 mn
  • Strong operating cash flow generation in 6m/17 fully covering investments and increased dividend payments
  • Clean CCS ROACE at 11%

Upstream

  • Hydrocarbon production increased to a ten-year quarterly high of 339 kboe/d
  • Production cost decreased by 19% to USD 8.7/boe

Downstream

  • OMV indicator refining margin rose to USD 6.0/bbl
  •  Ethylene/propylene net margins strongly increased
  • Total natural gas sales improved to 26 TWh

Key Events

OMV closed the sale of its wholly owned subsidiary OMV Petrol Ofisi to VIP Turkey Enerji AS, a subsidiary of Vitol Investment Partnership Ltd., on June 13, 2017. The overall transaction value amounts to EUR 1.37 bn. The net cash impact on OMV was EUR 0.88 bn in Q2/17.

On May 25, 2017, OMV and ADNOC signed a Memorandum of Understanding for cooperating in a number of areas, including the evaluation of opportunities in downstream projects; the exchange of knowledge and experience in refining operations and refinery-petrochemical integration and optimization, and downstream technical and maintenance Support. PWKD11082017

Last modified onFriday, 11 August 2017 01:45
Login to post comments
back to top

Main Menu

News Menu

Company