Omv Petrom Sa · BVB:SNP
Omv Petrom Sa — Investor Presentation (October 2024)
73 slides from Omv Petrom Sa's investor presentation, October 2024
Slide 1: Capital Market Story
Capital Market Story October 2024
Slide 2: Disclaimer
Disclaimer This presentation does not, and is not intended to, constitute or form part of, and None of the future projections, expectations, estimates or prospects in this should not be construed as, constituting or forming part of, any actual offer to sell presentation, including (without being lim
Slide 3: Contents
Contents 1 | Investment proposition 2 | Strategy 2030 3 | Q2/24 results 4 | Outlook 5 | FY23 results 6 | Appendix All figures throughout this presentation refer to OMV Petrom Group (hereinafter also referred to as “the Group”), unless otherwise stated; figures are rounded, and they may not add up. T
Slide 4: Sustainable growth in energy, value and dividends
OMV Petrom strong investment proposition Sustainable growth in energy, value and dividends Integrated energy Growing cash flows Highly competitive Transforming company developing and maintaining dividend for a lower largest offshore gas strong profitability distributions3 carbon future resource1 in
Slide 5: Highly competitive dividends
Stronger commitment to shareholders Highly competitive dividends Dividend Policy Strong commitment by 2030 Base dividend Total dividends Paying progressive base dividend, (base and special) in line with financial performance and investment needs, considering the long-term financial health of the Com
Slide 6: Dividend distributions at highly competitive levels
Living up to our promises Dividend distributions at highly competitive levels Progressive base dividends Competitive among our peers Dividend per share breakdown Total distributions1, 2, 3 RON/share Distributions 36% 45% 39% 44% share in OCF 0.0791 0.0825 0.0713 Total distribution 19.6 yields, % 0.0
Slide 7: Largest integrated energy producer in South-Eastern Europe
Our business model Largest integrated energy producer in South-Eastern Europe Moldova Ukraine Romania 69 Moldova Romania 163 48% 49% Production 1P reserves Black Sea 41 mn boe 424 mn boe 392 Refinery Serbia 52% 51% Gas-fired power plant Gas Oil 63 93 Bulgaria Bulgaria - Han Asparuh Bulgaria Refining
Slide 8: Shareholder structure and capital market environment
Shareholder structure and capital market environment In top 3 of BSE listed companies by market capitalization OMV Petrom S.A. shareholder structure1 Share price performance4 % Index Dec 2021 = 100 180 170 160 150 28% 51% 140 130 120 110 100 90 21% 80 May-23 Apr-22 May-22 Apr-23 Jul-23 Oct-23 Apr-24
Slide 9: Contents
Contents 1 | Investment proposition 2 | Strategy 2030 • Overview & delivery • Energy context • Transition to low & zero carbon • Grow regional gas • Optimize traditional business • Financial frame 3 | Q2/24 results 4 | Outlook 5 | FY23 results 6 | Appendix 9 OMV Petrom Capital Market Story – October
Slide 10: Transforming for a lower carbon future
OMV Petrom Strategy 2030 Transforming for a lower carbon future Strong capital discipline & dividend policy Transition to low and zero carbon Energy transition leader for Romania and SEE Optimize traditional Grow regional business gas Innovation & People & Responsible Digitalization Communities oper
Slide 11: Building a diversified, integrated energy transition business
OMV Petrom Strategy 2030 Building a diversified, integrated energy transition business OMV Petrom portfolio 2030 Clean CCS EBIT CAPEX % % > EUR 1.5 bn ~ EUR 11 bn 7 15 6 35 Renewable power Gas Biofuels 35 Gas based Alternative 20 power mobility 100 87 Blue & Fuels green H2 Adding 50 45 5 low carbon
Slide 12: Enabling our transformation
Digitalization and People Enabling our transformation Digitalization with impact People make it happen Leveraging digitalization to accelerate transformation Excellence in business operations via simplification, standardization & automation care Outstanding customer experience curious via mobile and
Slide 13: Delivering on our Strategy 2030
OMV Petrom Strategy 2030 Delivering on our Strategy 2030 Strategy 2030 Underway Double digit Strong financial Experienced proven resilient with Neptun Deep returns on framework and management team against backdrop development – investments in low peer leading with proven ability of significantly ons
Slide 14: Significant milestones achieved since 2021
Strategy 2030 execution Significant milestones achieved since 2021 ✓ Optimize ✓ Grow ✓ Low ✓ GHG traditional regional and zero reduction business gas carbon ● Near field discoveries ● Neptun Deep ● Strong portfolio of renewable ● Scope 1-2 emissions: projects - 22%3 ● Petrobrazi refinery: ● FID1 tak
Slide 15: Continue to deliver on our sustainability targets
Sustainability highlights Continue to deliver on our sustainability targets Clear support for Paris Improved and increased Sustainability Report Climate Agreement number of ESG ratings Medium risk -11% -72% 2022: Medium Carbon intensity, Methane intensity E Scope 1&21 in E&P1 A- 3 2022: same 30% 41m
Slide 16: Contents
Contents 1 | Investment proposition 2 | Strategy 2030 • Overview & delivery • Energy context • Transition to low & zero carbon • Grow regional gas • Optimize traditional business • Financial frame 3 | Q2/24 results 4 | Outlook 5 | FY23 results 6 | Appendix 16 OMV Petrom Capital Market Story – Octobe
Slide 17: Romania: the fastest growing economy in the EU
Energy context Romania: the fastest growing economy in the EU Romanian GDP per capita Demand2 in Romania 2030 vs 2023 2040 vs 2030 set to grow1 Gasoline +5% -30% CAGR % Diesel +5% -30% 4.2 Jet +25% +5% 2.7 Gas +25% -30% 1.8 Power +15% +20% thereof renewable3 +140% +100% thereof EV (TWh) +14 +5 2023-
Slide 18: Contents
Contents 1 | Investment proposition 2 | Strategy 2030 • Overview & delivery • Energy context • Transition to low & zero carbon • Grow regional gas • Optimize traditional business • Financial frame 3 | Q2/24 results 4 | Outlook 5 | FY23 results 6 | Appendix 18 OMV Petrom Capital Market Story – Octobe
Slide 19: Key directions
Decarbonization strategy Key directions Decarbonize current operations Expand lower carbon gas business Pursue new low and zero carbon business opportunities 19 OMV Petrom Capital Market Story – October 2024
Slide 20: Leading the energy transition in Romania and SE Europe
Decarbonization strategy Leading the energy transition in Romania and SE Europe We are enabling: Scope 1 – 2 GHG emissions mn t CO2 eq ● Neptun Deep - largest gas resource in the EU -30% 4.5 -22% ● Largest new solar and wind power portfolio 3.5 2030 Scope in Romania 1-2 Intensity -30% ● Largest inve
Slide 21: Largest new solar and wind power portfolio in Romania
Increased and accelerated plans in renewable power Largest new solar and wind power portfolio in Romania Key figures by 2030 We built a strong portfolio… Increased targets enabled by partnerships ● Profitable mix between M&A and and CAPEX ~2.5 GW organic projects capacity (GW)1 target capacity insta
Slide 22: Becoming the first major producer of renewable fuels in SE Europe
Decarbonizing customers’ transportation: SAF/HVO Becoming the first major producer of renewable fuels in SE Europe FID taken for: CAPEX for FID-ed units Our new targets by 2030 EUR mn 250 kta SAF/HVO and 750 Biofuels ~8 kta green H2 kta production 250 2 300 SAF/HVO (prev. 600) Increasing biofuels de
Slide 23: Consolidating our position as 1st choice mobility provider in Romania
Decarbonizing customers’ transportation: E-mobility Consolidating our position as 1st choice mobility provider in Romania >5,000 CPs1 CAPEX for 2024-2030 Our increased target EUR mn No. of CPs Increased 2030 target ~160 ~270 ~1,000 >5,000 Capture early mover (prev. 500) advantage and increasing dema
Slide 24: Unique opportunities beyond renewable power, biofuels, e-mobility
New energy technologies Unique opportunities beyond renewable power, biofuels, e-mobility CCS Other high potential technologies Competitive advantages in CO2 storage ● Potential for strong demand for lower H2 and zero-carbon H2 ● In-depth knowledge of geological structures ● Exploring integrated H2
Slide 25: Investing to 2030 in projects with double-digit returns
Increase our low and zero carbon businesses Investing to 2030 in projects with double-digit returns HVO/SAF, Biofuels Green and blue H2 ~EUR 0.9 bn ~EUR 0.4 bn Capex1 ~30% ~EUR 3.7 bn New technologies FID-ed IRR ~EUR 1.2 bn 10-15% Renewable power and Energy storage Alternative / e-mobility ~EUR 1.0
Slide 26: Contents
Contents 1 | Investment proposition 2 | Strategy 2030 • Overview & delivery • Energy context • Transition to low & zero carbon • Grow regional gas • Optimize traditional business • Financial frame 3 | Q2/24 results 4 | Outlook 5 | FY23 results 6 | Appendix 26 OMV Petrom Capital Market Story – Octobe
Slide 27: Black Sea – a unique opportunity for OMV Petrom and the region
Grow regional gas Black Sea – a unique opportunity for OMV Petrom and the region Black Sea – a stepping-stone to greater energy security in South-East Europe OMV Petrom – Operator of two deep offshore neighboring blocks, leveraging Neptun Deep strong experience OMV Petrom - Operator ● Neptun Deep –
Slide 28: A game-changer project – set for success
Neptun Deep A game-changer project – set for success Strong team capabilities Robust project fundamentals Proven development concept Novel technology ● International team with extensive Project view (100% interest) Domino: to produce via two ● Fully remotely operated experience in delivering global
Slide 29: Very low carbon intensity operations by industry standards
Neptun Deep Very low carbon intensity operations by industry standards Direct GHG emissions per unit of hydrocarbon production kg CO2 per boe Neptun Deep will significantly contribute to ✓ the > 70% reduction target of the Scope 1-2 E&P carbon intensity 2 16.6 ✓ Depletion Driven Concept – The natura
Slide 30: On track to deliver first gas in 2027, on budget
Neptun Deep On track to deliver first gas in 2027, on budget Exploration Exploration&&Appraisal Appraisal Development Development 2008-2022 2023 2024 2025 2026 2027 OMVP became FDP approval by Drilling and Permitting & operator of ND FID NAMR construction Approvals Aug 2022 Jun 2023 Aug 2023 permitt
Slide 31: Contents
Contents 1 | Investment proposition 2 | Strategy 2030 • Overview & delivery • Energy context • Transition to low & zero carbon • Grow regional gas • Optimize traditional business • Financial frame 3 | Q2/24 results 4 | Outlook 5 | FY23 results 6 | Appendix 31 OMV Petrom Capital Market Story – Octobe
Slide 32: Integrated E&P assets: maximize value
Operational excellence in traditional business Integrated E&P assets: maximize value CAPEX1 up to EUR Value over volume and strict cost 2023 2030 400 mn / management: year Workovers ~500 >400 p.a. ● Maximize economic recovery (unchanged) New wells 45 ~50 IRR ● Focusing on near field opportunities p.
Slide 33: Transforming while delivering strong cash flows
E&P business highly cash generative Transforming while delivering strong cash flows Hydrocarbon production1 Production cost Operating cash flow kboe/d USD/boe USD/boe -50% >40% 16 ~16 > 160 28 138 11 113 ~100 54% 70% ~8 52% 50% 11 46% 48% 50% 30% 2020 2023 2025 2030 2020 2023 2025 2030 2020 2023 202
Slide 34: High performing refinery with above average utilization
Petrobrazi refinery High performing refinery with above average utilization Production mn t/year Up > 10% 2022 1 2030 4.2 (targets unchanged) 0.2 Refinery utilization4 95% >95%5 2.0 Traditional Expand aromatics _ +50 products kt/year 2025 portfolio 1.3 Bottom of the barrel upgrade6 _ 0.1 ~200 0.6 kt
Slide 35: Dual brand strategy to further drive value increase
Our Retail proposition Dual brand strategy to further drive value increase 2023 2030 (targets unchanged) Profitability +16% +20% per filling station1,4 Non-fuel business margin1 +58% +100% Throughput +14% +20% per filling station2 5.7 mn l ~ 6 mn l Customers‘ first choice Number of services 28 +8 vs
Slide 36: Leading integrated gas and power supplier
Redesigned gas and power business capturing market trends Leading integrated gas and power supplier Gas customers: Maximize returns from integrated Equity & ● End users 3rd party gas optimization of our gas and power ● Wholesales portfolios 2023 2030 ● Internal consumption ● Strong supply portfolio
Slide 37: Contents
Contents 1 | Investment proposition 2 | Strategy 2030 • Overview & delivery • Energy context • Transition to low & zero carbon • Grow regional gas • Optimize traditional business • Financial frame 3 | Q2/24 results 4 | Outlook 5 | FY23 results 6 | Appendix 37 OMV Petrom Capital Market Story – Octobe
Slide 38: 2022-2023: Resilient financial frame despite market upheaval
Market context 2022-2023: Resilient financial frame despite market upheaval Base case prices revised upwards1 2025 – 2030 Brent oil ~80 USD/bbl ● Changes to supply chains Indicator refining margin 8 – 10 ● Increased geopolitical and regulatory risks USD/bbl Gas hub price ● Higher and more volatile c
Slide 39: Profitable investments drive strong financial performance
Financial frame Profitable investments drive strong financial performance Rigorous capital Strong financial Attractive returns discipline performance to shareholders ● CAPEX1 of ~EUR 11 bn ● 2030 Clean CCS EBIT of ● 5%-10% p.a. dividend ● CAPEX1 of ~EUR 3.7 bn >EUR 1.5 bn growth for low & zero carbo
Slide 40: Company’s transformation supports higher shareholder returns
Capital allocation Company’s transformation supports higher shareholder returns 1 Organic CAPEX 2 Progressive base dividends 3 Inorganic CAPEX 4 Special dividends ● Further invest in the ● Committed to a ● Selective M&A ● Special dividends profitable traditional competitive transactions to help pote
Slide 41: Rigorous capital discipline underpins strategy
Financial Frame Rigorous capital discipline underpins strategy Average annual CAPEX per Average annual CAPEX per strategic pillar business segment EUR bn % Double digit ~1.7 returns 15 ~1.0 25 IRR > 10% (prev. > 9%) 5 0.8 2 35 IRR >12% 28 IRR > 12% 70 60 60 2019-2023 2024-2026 2027-2030 2019-2023 20
Slide 42: Delivering strong financial performance across the business
Financial Frame Delivering strong financial performance across the business Clean CCS EBIT Clean CCS EBIT Clean CCS ROACE per strategic pillar1 per business segment1 % EUR bn % ~1.4 ~15 1.2 20 ~1.1 20 15 ~12 35 7 30 40 45 50 45 2019-2023 2024-2026 2027-2030 2019-2023 2024-2026 2027-2030 2020 2025 20
Slide 43: Still strong financial position
Resilience under downside-price scenario1 Still strong financial position Clean CCS EBIT EUR bn Base case Downside scenario Under downside price scenario: 1.7 1.7 ● Commitment to pay progressive base >1.5 dividends maintained ● CAPEX plans largely unchanged by 2030 ● Gearing ratio below 20% througho
Slide 44: Contents
Contents 1 | Investment proposition 2 | Strategy 2030 3 | Q2/24 results 4 | Outlook 5 | FY23 results 6 | Appendix All figures throughout this presentation refer to OMV Petrom Group (hereinafter also referred to as “the Group”), unless otherwise stated; figures are rounded, and they may not add up. T
Slide 45: 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 4.9 5.0 5.0 5.0 16.8 4.5 4.5 4.6 4.6 4.6 12.6 11.2 10.8 9.7 78 87 84 83 85 Q2/23 Q3/23 Q4/23 Q1/24 Q2/24 Q2/23 Q3/23 Q4/23 Q1/24 Q2/24 Avg USD/RON Avg EUR/RON Avg Bren
Slide 46: Mixed demand for our products
Romanian environment Mixed demand for our products GDP 2.1% 0.8% 2.8% Growth expected 20231 Q2/241 2024e2 Inflation (CPI) 6.6% 5.1% 4.0% On a downward trend Dec 23/Dec 22 Aug 24/Aug 233 2024e3 Romania maintained at investment grade by major rating agencies4 Demand Q2/24 yoy 6m/24 yoy 2023 yoy Fuels5
Slide 47: First steps towards deregulation of gas and power sector
Romanian regulatory framework First steps towards deregulation of gas and power sector New regulations applicable in Q2/24 Highly regulated gas sales portfolio GEO 32/2024 amends GEO 27/2022 Q2/24 Q1/24 15% ● Applicability: starting April 2024 14% ● Main provisions: 71% 61% 14% Gas: ● reduced the ga
Slide 48: Continued to deliver on our Strategy 2030
Key messages Q2/24 Continued to deliver on our Strategy 2030 Good financial performance Clean CCS Operating result Operating Cash Flow Clean CCS ROACE -15% yoy +156% yoy -7.8 pp yoy RON 1.4 bn RON 1.1 bn 23.5% Operational performance Strategic focus ● Hydrocarbon production -3% yoy, good ● Neptun De
Slide 49: 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 -3% -3% +67 pp -18% 114 113 110 112 110 95 95 93 98 11.7 12.5 12.6 55 54 54 54 53 9.5 7.8 31 59 59 56 58 58 Q2
Slide 50: Entered the most investment intensive period in our history
CAPEX Entered the most investment intensive period in our history Group CAPEX1 RON bn per business segment <8 <8 6m/24 2024E ● RON 2.4 bn: ● RON < 8 bn: 4.7 ● Neptun Deep project ● Neptun Deep project ● 14 new wells and sidetracks; ● Wells and sidetracks: 3.6 ~40; up to 500 workovers ~270 workovers
Slide 51: Robust results
Income Statement Robust results Clean CCS Operating Result RON bn -15% -15% ● Q2/24 Clean CCS Operating Result reflects: 1.6 3.7 1.4 0.5 1.2 3.1 ● Lower refining margin, but higher sales channels’ margins 0.1 0.7 0.4 0.8 1.2 ● Lower gas and power margins 1.2 0.8 2.1 1.6 -0.2 -0.1 -0.1 -0.4 0.0 ● Hig
Slide 52: Solid Operating Results
Clean CCS Operating Result Solid Operating Results E&P RON mn ● Lower E&P taxation ● Realized crude price +11% 1,152 -54 -275 823 ● Lower realized gas price ● Hydrocarbon sales -3% ● Higher depreciation and exploration costs Q2/23 Market effects1 Operational effects Q2/24 R&M and G&P ● Refined produ
Slide 53: Strong cash generation
Cash flow Strong cash generation Cash Flow from Operating Activities RON bn +156% -20% 5.1 ● Q2/24 Cash Flow from Operating Activities: 1.1 4.0 0.4 4.3 1.4 1.9 4.8 ● Higher cash generated from operating activities before NWC 0.5 0.4 2.2 movements -1.5 -1.2 0.5 -1.5 -1.2 ● Positive NWC Q2/23 Q2/24 6m
Slide 54: Contents
Contents 1 | Investment proposition 2 | Strategy 2030 3 | Q2/24 results 4 | Outlook 5 | FY23 results 6 | Appendix All figures throughout this presentation refer to OMV Petrom Group (hereinafter also referred to as “the Group”), unless otherwise stated; figures are rounded, and they may not add up. T
Slide 55: Outlook
Outlook 2024-2026 Indicators Actual Assumptions / Targets Assumptions / Targets 6m/2024 2024 2025-2026 averages Brent oil price USD 84/bbl USD ~85/bbl USD ~80/bbl Production1 111 kboe/d >106 kboe/d ~100 kboe/d Refining margin USD 11/bbl USD ~10/bbl USD ~10/bbl CAPEX RON 2.4 bn up to RON 8 bn RON >8.
Slide 56: 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 56 OMV Petrom Capital Market Story – October 2024
Slide 57: Contents
Contents 1 | Investment proposition 2 | Strategy 2030 3 | Q2/24 results 4 | Outlook 5 | FY23 results 6 | Appendix All figures throughout this presentation refer to OMV Petrom Group (hereinafter also referred to as “the Group”), unless otherwise stated; figures are rounded, and they may not add up. T
Slide 58: Solid results in all business segments
Clean CCS Operating Results Solid results in all business segments E&P RON mn ● Realized crude price -18% 5,433 ● Lower gas price, partially offset by lower royalties and gas -217 -1,039 4,177 over-taxation ● Higher production costs, +21% ● Hydrocarbon sales -5% ● Unfavourable FX 2022 Market effects
Slide 59: Exploration & Production
Operational KPIs Exploration & Production Production cost USD/boe +21% Key drivers 2023 vs. 2022 15.97 ● Lower production available for sale 12.73 13.15 10.90 10.88 ● Increased overall costs ● Positive one-off in Q2/22 ● Unfavourable FX 2019 2020 2021 2022 2023 Hydrocarbon production kboe/d 152 -5%
Slide 60: Refining & Marketing
Operational KPIs Refining & Marketing OMV Petrom Indicator refining margin USD/bbl Key drivers 2023 vs. 2022 -16% 16.59 13.96 ● Weaker spreads for diesel and jet 4.67 5.47 2.89 2019 2020 2021 2022 2023 Retail sales volumes (mn t) and Retail Operating Result per filling station (trend) ● Retail sales
Slide 61: Gas & Power
Operational KPIs Gas & Power Gas sales volumes TWh Key drivers 2023 vs. 2022 57.0 +1% +1% 54.8 ● Higher sales to end users and regulated customers 48.9 46.1 46.8 ● Expanded regional sales ● Lower equity gas quantities available 2019 2020 2021 2022 2023 Brazi net electrical output TWh -17% ● Capped g
Slide 62: Contents
Contents 1 | Investment proposition 2 | Strategy 2030 3 | Q2/24 results 4 | Outlook 5 | FY23 results 6 | Appendix All figures throughout this presentation refer to OMV Petrom Group (hereinafter also referred to as “the Group”), unless otherwise stated; figures are rounded, and they may not add up. T
Slide 63: Exploration and Production map
Regional footprint Exploration and Production map All data refers to 2023; Georgia exit decision announced in April 2024 63 OMV Petrom Capital Market Story – October 2024
Slide 64: Neptun Deep gas to have access to Romania and other potential gas markets
Accessibility and optionality Neptun Deep gas to have access to Romania and other potential gas markets EU 1 Hungary1 Moldova1 ~315 bcm ~8 bcm ~1 bcm Romania1 ~10 bcm Market demand 2023 Bulgaria1 Interconnecting Capacities in place ~2 bcm 1 Net importer 64 OMV Petrom Capital Market Story – October 2
Slide 65: Romanian oil market
Romanian oil market 2023 overview Crude Supply Refineries Distribution Production: Refineries Petrobrazi combined nameplate capacity ~13 mn tpa 27% Processed crude oil1 Transportation: Conpet ~10.2 mn t pa of which ~ 7.5 mn t from import Rompetrol (Petromidia, Vega) Imports: various 58% Lukoil (Petr
Slide 66: 780 filling stations at end 2023
OMV Petrom Group 780 filling stations at end 2023 Retail fuel sales mn l Moldova 3,074 3,160 3,176 2,798 2,922 2,746 69 117 120 97 101 129 142 2018 2019 2020 2021 2022 2023 2018 2019 2020 2021 2022 2023 Romania 171 175 147 177 185 186 392 163 Black Sea 2018 2019 2020 2021 2022 2023 Bulgaria 63 Serbi
Slide 67: Romanian gas market
Romanian gas market 2023 overview Regulatory Supply Distribution Demand Regulatory Production: Storage: Supply: Heat & Power incl. Body Romgaz, Depomures Romanian Romgaz, Energy BSOG,… Industry/ Regulatory Commercial Authority Romgaz, Distrigaz Sud (ANRE) Engie Romania, (Engie), 95% E.ON Energie Del
Slide 68: Romanian power market
Romanian power market 2023 overview Regulatory Supply Market(s) Distribution Demand Regulatory Production: Mid/long term fwd Body contract market(s) Coal 14% (OPCOM / bilateral) Romanian Energy Spot (DAM / ID) Internal market Regulatory Gas 17% Transport & market (OPCOM) Authority Distribution Distr
Slide 69: Cash flow Statement
Financial performance Cash flow Statement RON mn 2019 2020 2021 2022 2023 Cash flow from operating activities (CFO) 6,803 5,556 6,997 11,337 10,114 Thereof, Change in net working capital (NWC) -256 964 -433 -3,544 1,915 Cash flow from investing activities (CFI) -3,556 -3,163 -2,253 -3,104 -5,730 Cas
Slide 70: Income Statement
Financial performance Income Statement RON mn 2019 2020 2021 2022 2023 Sales 25,485 19,717 26,011 61,344 38,808 Clean CCS Operating Result 4,573 2,287 4,346 12,198 8,482 Thereof Exploration & Production 2,845 7 1,814 5,433 4,177 Refining & Marketing 1,501 1,454 2,041 4,019 2,480 Gas & Power 282 718
Slide 71: Operating Result
Financial performance Operating Result RON mn 2019 2020 2021 2022 2023 Clean CCS Operating Result 4,573 2,287 4,346 12,198 8,482 Thereof Exploration & Production 2,845 7 1,814 5,433 4,177 Refining & Marketing 1,501 1,454 2,041 4,019 2,480 Gas & Power 282 718 781 2,942 2,145 Corporate and Other -89 -
Slide 72: Key indicators
Financial performance Key indicators in RON mn 2019 2020 2021 2022 2023 Q1/22 Q2/22 Q3/22 Q4/22 Q1/23 Q2/23 Q3/23 Q4/23 Q1/24 Q2/24 Sales 25,485 19,717 26,011 61,344 38,808 11,898 13,683 18,667 17,096 9,473 8,391 10,662 10,282 8,544 8,704 Clean CCS Operating Result 4,573 2,287 4,346 12,198 8,482 2,2
Slide 73: Contact
Contact OMV Petrom Investor Relations OMV Petrom S.A. investor.relations.petrom@petrom.com 22 Coralilor St, District 1, www.omvpetrom.com Petrom City, Bucharest Tel: +40 372 161 930 Financial calendar 2024 October 29: Q3 2024 results 73 OMV Petrom Capital Market Story – October 2024