Slide 1: Q3 2024 Results Conference Call
Q3 2024 Results Conference Call Alfred Stern Chairman of the Executive Board and CEO October 29, 2024
Slide 2: Disclaimer
Disclaimer © 2024 OMV Aktiengesellschaft, all rights reserved, no reproduction without our explicit consent. This presentation contains forward-looking statements. Forward-looking statements may be identified by the use of terms such as “outlook”, “believe”, “expect”, “anticipate”, “intend”, “plan”,
Slide 3: Macro environment
Macro environment Oil prices Gas prices USD/bbl EUR/MWh Q3 2024 vs. Q3 2023 Average Brent price Average realized crude price Trading Hub Europe (THE) Realized gas price 41 33 28 31 35 Brent oil –7% 87 84 85 26 27 25 83 80 22 23 81 82 79 81 78 THE gas price +6% Q3/23 Q4/23 Q1/24 Q2/24 Q3/24 Q3/23 Q4/
Slide 4: Overview Q3 2024
Overview Q3 2024 Operational performance Clean CCS Clean CCS EPS Cash flow from Q3 2024 vs. Q3 2023 Operating Result EUR operating activities EUR mn EUR mn Polyolefin sales volumes 1,334 -21% -20% 1.51 1,705 -17% +9% 1,232 1.32 418 114 1,421 1,051 Fuel sales volumes 1.06 1,182 +2% 308 135 204 942 81
Slide 5: Delivering the Strategy 2030
Delivering the Strategy 2030 Selected projects Energy • Gas discovery in the Norwegian Sea • OMV Petrom closed the acquisition of several photovoltaic projects from Jantzen Renewables and Picture related two renewable power deals (photovoltaic capacity to projects that and wind power) from Renovatio
Slide 6: Chemicals – substantially increased earnings driven by improved margins and higher sales volumes
Chemicals – substantially increased earnings driven by improved margins and higher sales volumes Clean Operating Result EUR mn • Market environment +146 − Higher olefin indicator margins (ethylene +15%, propylene 135 +23%) 19 − Higher polyolefin indicator margins (PE +45%, PP +23%) 15 • Operational
Slide 7: F&F – significantly lower refining margins, partially compensated by higher Marketing
F&F – significantly lower refining margins, partially compensated for by higher Marketing contribution Clean CCS Operating Result EUR mn –214 • Lower refining indicator margin by USD 9/bbl driven by 418 lower gasoline cracks and middle distillates cracks • Stable refinery utilization rate Europe (84
Slide 8: Energy – earnings decline mainly due to lower sales volumes caused by Libya outage
Energy – earnings decline mainly due to lower sales volumes caused by Libya outage Clean Operating Result EUR mn • Market environment • Lower realized crude oil price (–3%), lower realized natural gas –240 price (–3%) 942 20 8 • A decrease in the gas-related supplemental taxes in Romania 291 • Oil a
Slide 9: Cash flow from operating activities slightly below
Cash flow from operating activities slightly below 1–9/23 1-9/24 vs. 1-9/23 • Significant increase in cash flow from operating activities excluding net working capital effects to EUR 4.1 bn, supported by lower tax payments EUR bn in Norway 4.6 − Dividends received in 1-9/24 from Borouge of EUR 435 m
Slide 10: Maintaining a low leverage ratio and high cash position
Maintaining a low leverage ratio and high cash position Healthy balance sheet EUR bn, % End of Sept. 2024 9.3 OMV cash position1 EUR 5.9 bn 6.0 32% Net debt in EUR bn Leverage ratio End of Sept. 2024 21% 3.3 3.4 OMV undrawn committed 2.2 2.1 credit facilities 12% 12% 8% 8% 4% 1.2 EUR 4.2 bn 2020 202
Slide 11: OMV has successfully diversified its gas supply sources and is not dependent on Russian gas
OMV has successfully diversified its gas supply sources and is not dependent on Russian gas → Secured European transport capacities via Germany and Italy into Austria Gas from Norway • Fully covering OMV’s sales volumes in Austria (equity and third party) • Up to 40 TWh p.a. in 2024–2026 • Up to 27
Slide 12: Updated outlook 2024
Updated outlook 2024 2023 1–9/24 FY 2024 Brent oil price (USD/bbl) 83 83 80–85 (previous ~85) THE (Trading Hub Europe) gas price (EUR/MWh) 41 31.5 30–35 OMV average realized gas price (EUR/MWh) 29 23 ~25 MARKET Ethylene indicator margin Europe (EUR/t) 507 503 ~490 Propylene indicator margin Europe (
Slide 13: Appendix
OMV GROUP Appendix 13
Slide 14: Chemicals – increased contribution driven by better market environment and stronger JVs result
Chemicals – increased contribution driven by better market environment and stronger JVs result Clean Operating Result EUR mn +21 • Market environment 135 − Higher olefin indicator margins (ethylene +2%, propylene +2%) 12 24 17 − Stable polyolefin indicator margins (PE +2%, PP +0%) 114 17 • Operation
Slide 15: F&F – earnings impacted by a lower refining margin and higher crude differentials
F&F – earnings impacted by a lower refining margin and higher crude differentials Clean CCS Operating Result EUR mn –103 • Lower refining indicator margin by USD 2/bbl 308 • Lower refinery utilization rate Europe by 4 ppt, 55 impacted by the outage in Burghausen 32 • Unfavorable development of crude
Slide 16: Energy – earnings mainly impacted by Libya outage, partially offset by stronger Gas Marketing & Power
Energy – earnings mainly impacted by Libya outage, partially offset by stronger Gas Marketing & Power Clean Operating Result EUR mn • Lower realized crude oil price (–4%), higher gas price (+7%) –116 • Oil and gas production of 332 kboe/d (–6 kboe/d) 817 − Libya (–13 kboe/d) 1 17 − Malaysia (+8 kboe
Slide 17: Overview 1–9/2024
Overview 1–9/2024 Operational performance Clean CCS Clean CCS EPS Cash flow from 1–9/24 vs. 1–9/23 Operating Result EUR operating activities EUR bn EUR bn Polyolefin sales volumes 4.6 0.1 -18% 5.90 -20% 4.6 -4% 4.4 +8% 1.3 3.8 4.70 0.4 Fuel sales volumes 0.8 +1% 3.3 2.6 Hydrocarbon production 1–9/23
Slide 18: Strong balance sheet
Strong balance sheet Balance sheet September 30, 2024, vs. June 30, 2024 EUR bn 48.0 48.2 48.2 48.0 • Tangible & intangible assets increased due to the acquisition of filling station network in Stockholders’ equity 17.0 Austria and renewable energy projects in and hybrid capital 17.2 Tangible & 21.8
Slide 19: Sensitivities of OMV Group results in 2024
Sensitivities of OMV Group results in 2024 Annual impact excl. hedging Clean CCS Operating EUR mn Operating Result cash flow Brent oil price (USD +1/bbl) +55 +25 Realized gas price (EUR +1/MWh)1 +75 +40 OMV refining indicator margin Europe (USD +1/bbl) +115 +90 Ethylene indicator margin Europe (EUR
Slide 20: OMV GROUP
OMV GROUP