Omv Petrom Sa · BVB:SNP
Omv Petrom Sa — Q1 2024 Earnings Presentation
30 slides from Omv Petrom Sa's earnings presentation, Apr 30, 2024
Slide 1: OMV Petrom Q1/24 Results Conference Call, April 30, 2024
OMV Petrom Q1/24 Results Conference Call, April 30, 2024 Christina Verchere Chief Executive Officer and President of the Executive Board Alina Popa Chief Financial Officer The spoken word applies. Check against delivery. Page 1 of 30
Slide 2: Slide 1 – Intro
OMV Petrom Q1/24 Results Conference Call, April 30, 2024 Christina Verchere – OMV Petrom – CEO Slide 1 – Intro Good afternoon, ladies and gentlemen, and a warm welcome from my side. Thank you for joining our call. It is a real pleasure to present our performance for the first quarter of 2024. Page 2
Slide 3: Slide 2 – Legal Disclaimer
OMV Petrom Q1/24 Results Conference Call, April 30, 2024 Slide 2 – Legal Disclaimer Please let me first draw your attention to our Legal Disclaimer, which you can read in detail on slide 2. Page 3 of 30
Slide 4: OMV Petrom Q1/24 Results Conference Call, April 30, 2024
OMV Petrom Q1/24 Results Conference Call, April 30, 2024 Page 4 of 30
Slide 5: Slide 3 – Commodity prices – Volatile market environment
OMV Petrom Q1/24 Results Conference Call, April 30, 2024 Slide 3 – Commodity prices – Volatile market environment Let me start by taking a look at the evolution of commodity prices in the first quarter of 2024. Brent price increased by 12 percent during the quarter to around 87 dollars per barrel. T
Slide 6: OMV Petrom Q1/24 Results Conference Call, April 30, 2024
OMV Petrom Q1/24 Results Conference Call, April 30, 2024 Page 6 of 30
Slide 7: Slide 4 – Romanian environment: Growth in demand for all our products returning
OMV Petrom Q1/24 Results Conference Call, April 30, 2024 Slide 4 – Romanian environment: Growth in demand for all our products returning Moving to the Romanian macroeconomic environment, the latest available data shows that, in the fourth quarter of 2023, GDP increased by 1.1 percent year-on-year. A
Slide 8: OMV Petrom Q1/24 Results Conference Call, April 30, 2024
OMV Petrom Q1/24 Results Conference Call, April 30, 2024 Page 8 of 30
Slide 9: Slide 5 – Romanian regulatory framework – First steps towards deregulation of gas and power sector
OMV Petrom Q1/24 Results Conference Call, April 30, 2024 Slide 5 – Romanian regulatory framework – First steps towards deregulation of gas and power sector It’s been two years since the Romanian Government implemented measures to address the high gas and power prices at that time. In March 2024, in
Slide 10: OMV Petrom Q1/24 Results Conference Call, April 30, 2024
OMV Petrom Q1/24 Results Conference Call, April 30, 2024 Page 10 of 30
Slide 11: Slide 6 – Key messages Q1/24 – Continued to deliver on our Strategy 2030
OMV Petrom Q1/24 Results Conference Call, April 30, 2024 Slide 6 – Key messages Q1/24 – Continued to deliver on our Strategy 2030 On slide 6, we present the key highlights for the quarter, when we had robust performance in the context of weaker market fundamentals compared to the first quarter of 20
Slide 12: 2023 – March 2024 was 0.4.
OMV Petrom Q1/24 Results Conference Call, April 30, 2024 In the first quarter, we also received the green light from the Romanian authorities to proceed with the announced acquisition of the 50 percent stake in Respira Verde, the leading company in the collection of used cooking oil in Romania. Thus
Slide 13: This page was left blank intentionally
OMV Petrom Q1/24 Results Conference Call, April 30, 2024 This page was left blank intentionally. Page 13 of 30
Slide 14: OMV Petrom Q1/24 Results Conference Call, April 30, 2024
OMV Petrom Q1/24 Results Conference Call, April 30, 2024 Page 14 of 30
Slide 15: Slide 7 – Operational performance – Resilient performance
OMV Petrom Q1/24 Results Conference Call, April 30, 2024 Slide 7 – Operational performance – Resilient performance On slide 7, I would like to present our operational performance and I will start with Exploration and Production. Hydrocarbon production decreased by 4 percent, reflecting the natural d
Slide 16: OMV Petrom Q1/24 Results Conference Call, April 30, 2024
OMV Petrom Q1/24 Results Conference Call, April 30, 2024 Page 16 of 30
Slide 17: Slide 8 – CAPEX – Entered the most investment intensive period in our history
OMV Petrom Q1/24 Results Conference Call, April 30, 2024 Slide 8 – CAPEX – Entered the most investment intensive period in our history Moving now to slide 8, total CAPEX in the first quarter of 2024 slightly increased year-on-year to 972 million RON. In Exploration and Production, we increased inves
Slide 18: OMV Petrom Q1/24 Results Conference Call, April 30, 2024
OMV Petrom Q1/24 Results Conference Call, April 30, 2024 Page 18 of 30
Slide 19: Slide 9 – Continue to deliver on our sustainability targets
OMV Petrom Q1/24 Results Conference Call, April 30, 2024 Slide 9 – Continue to deliver on our sustainability targets Yesterday we published our Sustainability Report for 2023 and I am happy to share with you our progress in terms of sustainability. Our Sustainability framework is built around three
Slide 20: OMV Petrom Q1/24 Results Conference Call, April 30, 2024
OMV Petrom Q1/24 Results Conference Call, April 30, 2024 Page 20 of 30
Slide 21: Slide 11 – Income Statement – Robust results
OMV Petrom Q1/24 Results Conference Call, April 30, 2024 Slide 11 – Income Statement – Robust results Thank you, Christina, and good afternoon also from my side. I will continue the presentation with slide 11, starting with some highlights on the Income Statement, with focus on the developments of t
Slide 22: OMV Petrom Q1/24 Results Conference Call, April 30, 2024
OMV Petrom Q1/24 Results Conference Call, April 30, 2024 Page 22 of 30
Slide 23: Slide 12 – Clean CCS Operating Result – Solid Operating Results
OMV Petrom Q1/24 Results Conference Call, April 30, 2024 Slide 12 – Clean CCS Operating Result – Solid Operating Results Let me go on to slide 12, which shows the major building blocks for the development of the Clean CCS Operating Result. I will start with Exploration and Production. The market eff
Slide 24: OMV Petrom Q1/24 Results Conference Call, April 30, 2024
OMV Petrom Q1/24 Results Conference Call, April 30, 2024 Page 24 of 30
Slide 25: Slide 13 – Cash flow – Strong cash generation
OMV Petrom Q1/24 Results Conference Call, April 30, 2024 Slide 13 – Cash flow – Strong cash generation On slide 13, I would like to continue with the highlights regarding our cash flow statement. In the first quarter of 2024, the cash generated from operating activities before net working capital mo
Slide 26: OMV Petrom Q1/24 Results Conference Call, April 30, 2024
OMV Petrom Q1/24 Results Conference Call, April 30, 2024 Page 26 of 30
Slide 27: Slide 14 – Outlook – 2024-2026
OMV Petrom Q1/24 Results Conference Call, April 30, 2024 Slide 14 – Outlook – 2024-2026 Let me conclude our presentation with the Outlook, on slide 14. And I will refer only to the guidance for this year, as commodity prices for 2025-2026 are currently under review. We expect Brent oil price in 2024
Slide 28: We are now available for your questions
OMV Petrom Q1/24 Results Conference Call, April 30, 2024 We are now available for your questions. Page 28 of 30
Slide 29: OMV Petrom Q1/24 Results Conference Call, April 30, 2024
OMV Petrom Q1/24 Results Conference Call, April 30, 2024 Page 29 of 30
Slide 30: OMV Petrom Q1/24 Results Conference Call, April 30, 2024
OMV Petrom Q1/24 Results Conference Call, April 30, 2024 Page 30 of 30