Slide 1: OMV Petrom Q3/24 Results
OMV Petrom Q3/24 Results Christina Verchere, CEO October 29, 2024 Picture: state-of-the-art automated drilling rig used by OMV Petrom
Slide 2: Legal Disclaimer
Legal Disclaimer This presentation does not, and is not intended to, constitute or form part of, and should not be construed as, constituting or forming part of, any actual offer to sell or issue, or any solicitation of any offer to purchase or subscribe for, any shares issued by the Company or any
Slide 3: Commodity prices: Volatile market environment
Commodity prices Volatile market environment Oil prices FX OMV Petrom indicator refining margin USD/bbl RON/USD, RON/EUR USD/bbl 4.9 5.0 5.0 5.0 5.0 16.8 4.5 4.6 4.6 4.6 4.5 12.6 10.8 9.7 87 84 83 85 80 7.1 Q3/23 Q4/23 Q1/24 Q2/24 Q3/24 Q3/23 Q4/23 Q1/24 Q2/24 Q3/24 Avg USD/RON Avg EUR/RON Avg Brent
Slide 4: Increasing demand for our products
Romanian environment Increasing demand for our products GDP 2.1% 0.8% 2.8% Growth expected 20231 Q2/241 2024e2 Inflation (CPI) 6.6% 4.6% 4.0% On a downward trend Dec 23/Dec 22 Sep 24/Sep 233 2024e3 Romania maintained at investment grade by major rating agencies4 Demand Q3/24 yoy 9m/24 yoy 2023 yoy F
Slide 5: Gas and power sector remains highly regulated
Romanian regulatory framework Gas and power sector remains highly regulated G&P regulations applicable in Q3/24 Highly regulated gas sales portfolio GEO 32/2024 amends GEO 27/2022 Q3/24 Q2/24 ● Applicability: starting April 2024 until end Q1/25 14% 15% ● Main provisions: 14% Gas: 57% 71% ● reduced t
Slide 6: Continued to deliver on our Strategy 2030
Key messages Q3/24 Continued to deliver on our Strategy 2030 Good financial performance Clean CCS Operating result Operating Cash Flow Clean CCS ROACE -36% yoy -36% yoy -4.6 pp yoy RON 1.6 bn RON 1.9 bn 20.6% Operational performance Strategic focus ● Neptun Deep: progressed according to plan; 1st st
Slide 7: Resilient performance
Operational performance Resilient performance Exploration and Production Refining and Marketing Gas and Power Hydrocarbon production Refinery utilization rate Gas sales volumes kboe/d % TWh -6% -6% +4 pp -12% 113 95 95 93 98 99 110 112 110 107 11.7 12.5 12.6 10.2 54 54 54 53 52 7.8 59 56 58 58 55 Q3
Slide 8: Engaged in the most investment intensive period in our history
CAPEX Engaged in the most investment intensive period in our history Group CAPEX1 RON bn per business segment ~7.5 ~7.5 9m/24 2024E ● RON 4.8 bn: ● RON ~7.5 bn: 4.7 ● Neptun Deep project ● Neptun Deep project ● 26 new wells and sidetracks; ● Wells and sidetracks: 3.6 ~40; up to 500 workovers >400 wo
Slide 9: OMV Petrom Q3/24 Results
OMV Petrom Q3/24 Results Alina Popa, CFO October 29, 2024
Slide 10: Robust results
Income Statement Robust results Clean CCS Operating Result RON bn -36% -23% 2.5 6.2 0.4 1.6 4.8 ● Q3/24 Clean CCS Operating Result reflects: 1.6 1.0 0.0 1.8 0.4 0.8 2.0 ● Lower refining margin with higher sales channels’ margins 1.1 3.3 2.4 ● Lower gas and power margins 0.9 0.0 -0.1 -0.4 -0.1 ● High
Slide 11: Solid Operating Results
Clean CCS Operating Result Solid Operating Results E&P RON mn 1,131 -32 ● Realized crude price -7%; lower realized gas price -223 876 ● Hydrocarbon sales -4% ● Lower E&P taxation Q3/23 Market effects1 Operational effects Q3/24 ● Lower depreciation R&M and G&P RON mn ● Refining margin -58% ● Addition
Slide 12: Strong cash generation
Cash flow Strong cash generation Cash Flow from Operating Activities RON bn -36% -26% 3.0 8.1 ● Q3/24 Cash Flow from Operating Activities: 1.9 6.0 3.0 7.4 ● Lower cash generated from operating activities before NWC 2.4 7.2 movements 2.2 0.0 -0.4 -1.5 -1.2 0.1 ● Negative NWC Q3/23 Q3/24 9m/23 9m/24 1
Slide 13: 2024 Outlook; Guidance for 2025-2026 under review
Outlook 2024 Outlook; Guidance for 2025-2026 under review Indicators Actual Assumptions / Targets Assumptions / Targets 9m/2024 2024 2025-2026 averages 2 Brent oil price USD 83/bbl USD 80-85/bbl USD ~80/bbl (previously USD ~85/bbl) Production1 110 kboe/d ~108 kboe/d ~100 kboe/d (previously >106 kboe
Slide 14: Q&A
Q&A October 29, 2024 © OMV Petrom
Slide 15: Back-up
Back-up October 29, 2024 © OMV Petrom
Slide 16: Sensitivities: EBIT impact in 2024
Sensitivities EBIT impact in 2024 2024 sensitivities Change EBIT impact Brent oil price USD +1/bbl ~EUR +15 mn OMV Petrom indicator refining margin USD +1/bbl ~EUR +30 mn Exchange rates EUR/USD USD appreciation by 5 USD cents ~EUR +50 mn 16 OMV Petrom Q3/24 Results
Slide 17: @ OMV Petrom
@ OMV Petrom