Omv Ag · VIE:OMV
Omv — OMV Aktiengesellschaft — Q3 2023 Earnings Presentation
26 slides from Omv's earnings presentation, Oct 31, 2023
Slide 1: OMV Q3 2023 Results Conference Call
OMV Q3 2023 Results Conference Call October 31, 2023 OMV Aktiengesellschaft Alfred Stern Chairman of the Executive Board and CEO The spoken word applies 1/26 | OMV Group
Slide 2: OMV Q3 2023 Results Conference Call, October 31, 2023 2/26 | OMV Group
OMV Q3 2023 Results Conference Call, October 31, 2023 2/26 | OMV Group
Slide 3: Macro environment – Oil and gas prices below prior-year quarter
OMV Q3 2023 Results Conference Call, October 31, 2023 Slide 3: Macro environment – Oil and gas prices below prior-year quarter, strong refining margins, and weak chemical market environment Ladies and gentlemen, good morning and thank you for joining us. The third quarter of 2023 was characterized b
Slide 4: OMV Q3 2023 Results Conference Call, October 31, 2023 4/26 | OMV Group
OMV Q3 2023 Results Conference Call, October 31, 2023 4/26 | OMV Group
Slide 5: Key messages
OMV Q3 2023 Results Conference Call, October 31, 2023 Slide 4: Key messages At 1.3 billion euros, the clean CCS Operating Result was 13 percent higher than in the second quarter but dropped significantly from the exceptionally high level of the prior-year quarter. Cash flow from operating activities
Slide 6: Page left intentionally blank
OMV Q3 2023 Results Conference Call, October 31, 2023 Page left intentionally blank 6/26 | OMV Group
Slide 7: Joint venture with Interzero for sorting plant in Walldürn
OMV Q3 2023 Results Conference Call, October 31, 2023 And, this morning, we announced that we have joined forces with Interzero to build an innovative sorting plant with an annual processing capacity of up to 260 thousand tons in Walldürn, Germany. Interzero, formerly called Alba Recycling, is one o
Slide 8: OMV Q3 2023 Results Conference Call, October 31, 2023 8/26 | OMV Group
OMV Q3 2023 Results Conference Call, October 31, 2023 8/26 | OMV Group
Slide 9: Start-up of new Baystar polyethylene plant in Texas, USA
OMV Q3 2023 Results Conference Call, October 31, 2023 Slide 5: Start-up of new Baystar polyethylene plant in Texas, USA At the beginning of October, we announced the start-up of the third polyethylene plant at our Baystar JV in the US. The new PE unit has a capacity of 625 thousand tons per year, mo
Slide 10: OMV Q3 2023 Results Conference Call, October 31, 2023 10/26 | OMV Group
OMV Q3 2023 Results Conference Call, October 31, 2023 10/26 | OMV Group
Slide 11: Clean CCS Earnings – Performance impacted by declining oil and gas prices
OMV Q3 2023 Results Conference Call, October 31, 2023 Slide 6: Clean CCS Earnings – Performance impacted by declining oil and gas prices, partially offset by stronger refining earnings Let’s now turn to the financial performance in the third quarter of 2023. Our clean CCS Operating Result improved b
Slide 12: OMV Q3 2023 Results Conference Call, October 31, 2023 12/26 | OMV Group
OMV Q3 2023 Results Conference Call, October 31, 2023 12/26 | OMV Group
Slide 13: Chemicals & Materials – Substantially weaker margins
OMV Q3 2023 Results Conference Call, October 31, 2023 Slide 7: Chemicals & Materials – Substantially weaker margins and missing contribution of the Nitro business, partially offset by higher inventory valuation effects Let me now come to the performance of our business segments. Compared to the thir
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OMV Q3 2023 Results Conference Call, October 31, 2023 Page left intentionally blank 14/26 | OMV Group
Slide 15: Chemicals & Materials polyolefins and JV performance
OMV Q3 2023 Results Conference Call, October 31, 2023 In polyolefins, the sales volumes in Europe rose compared to the prior-year quarter, when they were impacted by the reduced feedstock availability in Schwechat. However, the increase was seen mostly in Consumer Products, where margins are current
Slide 16: OMV Q3 2023 Results Conference Call, October 31, 2023 16/26 | OMV Group
OMV Q3 2023 Results Conference Call, October 31, 2023 16/26 | OMV Group
Slide 17: Fuels & Feedstock – Significantly stronger refining operations
OMV Q3 2023 Results Conference Call, October 31, 2023 Slide 8: Fuels & Feedstock – Significantly stronger refining operations and commercial performance The clean CCS Operating Result in Fuels & Feedstock increased by 79 to 418 million euros thanks to a significant recovery in the operational activi
Slide 18: OMV Q3 2023 Results Conference Call, October 31, 2023 18/26 | OMV Group
OMV Q3 2023 Results Conference Call, October 31, 2023 18/26 | OMV Group
Slide 19: Energy – Sharp commodity price drop from exceptionally strong level
OMV Q3 2023 Results Conference Call, October 31, 2023 Slide 9: Energy – Sharp commodity price drop from exceptionally strong level of Q3/22 and decreased sales volumes mainly due to lifting schedule The clean Operating Result of Energy dropped considerably to 942 million euros from the extraordinari
Slide 20: OMV Q3 2023 Results Conference Call, October 31, 2023 20/26 | OMV Group
OMV Q3 2023 Results Conference Call, October 31, 2023 20/26 | OMV Group
Slide 21: Cash flow – Organic free cash flow before dividends
OMV Q3 2023 Results Conference Call, October 31, 2023 Slide 10: Cash flow – Organic free cash flow before dividends at EUR 2.1 bn for 9m/23 Turning to cash flow, our third-quarter operating cash flow – excluding net working capital effects – amounted to around 1.9 billion euros, a decrease of 35 per
Slide 22: OMV Q3 2023 Results Conference Call, October 31, 2023 22/26 | OMV Group
OMV Q3 2023 Results Conference Call, October 31, 2023 22/26 | OMV Group
Slide 23: Strong balance sheet – Very low leverage ratio and high cash position
OMV Q3 2023 Results Conference Call, October 31, 2023 Slide 11: Strong balance sheet – Very low leverage ratio and high cash position Moving on to the balance sheet, we reduced our net debt to 1.7 billion euros and our leverage ratio at the end of September decreased to 6 percent. This reduction was
Slide 24: OMV Q3 2023 Results Conference Call, October 31, 2023 24/26 | OMV Group
OMV Q3 2023 Results Conference Call, October 31, 2023 24/26 | OMV Group
Slide 25: Updated outlook 2023
OMV Q3 2023 Results Conference Call, October 31, 2023 Slide 12: Updated outlook 2023 Let me conclude with an updated outlook for this year. As usual, we will present our outlook for next year with our fourth quarter earnings in February. We now expect the Brent oil price in 2023 to average above 80
Slide 26: Thank you / questions
OMV Q3 2023 Results Conference Call, October 31, 2023 understanding, these new rates apply prospectively to the future concession agreements, thus we expect no impact on short term. Thank you for your attention. Reinhard and I will now be happy to take your questions. 26/26 | OMV Group
OMV Aktiengesellschaft — Q3 2023 Earnings Presentation on 6ix