Slide 1: OMV Q3 2021 Results Conference Call
OMV Q3 2021 Results Conference Call October 29, 2021 OMV Aktiengesellschaft Alfred Stern Chairman of the Executive Board and CEO The spoken word applies 1/23 | OMV Group
Slide 2: OMV Q3 2021 Results Conference Call, October 29, 2021 2/23 | OMV Group
OMV Q3 2021 Results Conference Call, October 29, 2021 2/23 | OMV Group
Slide 3: Opening remarks and introduction
OMV Q3 2021 Results Conference Call, October 29, 2021 Ladies and gentlemen, good morning and thank you for joining us. This is my first earnings call as CEO of OMV and I have the pleasure of presenting some fantastic financial results. Oil prices continued to rise, natural gas prices surged to a rec
Slide 4: OMV Q3 2021 Results Conference Call, October 29, 2021 4/23 | OMV Group
OMV Q3 2021 Results Conference Call, October 29, 2021 4/23 | OMV Group
Slide 5: Macro environment – strong prices and margins across all commodities
OMV Q3 2021 Results Conference Call, October 29, 2021 Slide 3: Macro environment – strong prices and margins across all commodities The third quarter of 2021 was the fifth consecutive quarter of sequential Brent price improvement. At 74 Dollars per barrel, Brent was up 7 percent quarter-on-quarter a
Slide 6: OMV Q3 2021 Results Conference Call, October 29, 2021 6/23 | OMV Group
OMV Q3 2021 Results Conference Call, October 29, 2021 6/23 | OMV Group
Slide 7: Key messages
OMV Q3 2021 Results Conference Call, October 29, 2021 Slide 4: Key messages At 1.8 billion Euros, our clean CCS Operating Result reached a new all-time high for the second consecutive quarter. The result further increased by almost half a billion Euros compared with the previous quarter and was roug
Slide 8: OMV Q3 2021 Results Conference Call, October 29, 2021 8/23 | OMV Group
OMV Q3 2021 Results Conference Call, October 29, 2021 8/23 | OMV Group
Slide 9: Clean CCS Operating Result – strong market environment and improved operational performance
OMV Q3 2021 Results Conference Call, October 29, 2021 Slide 5: Clean CCS Operating Result – strong market environment and improved operational performance Let’s now turn to our financial performance in the third quarter of 2021. Our clean CCS Operating Result rose sharply by almost 1.5 billion Euros
Slide 10: OMV Q3 2021 Results Conference Call, October 29, 2021 10/23 | OMV Group
OMV Q3 2021 Results Conference Call, October 29, 2021 10/23 | OMV Group
Slide 11: Exploration & Production – higher realized oil and gas prices, increased sales volumes
OMV Q3 2021 Results Conference Call, October 29, 2021 Slide 6: Exploration & Production – considerably higher realized oil and gas prices, increased sales volumes Let me now discuss the performance of our business segments. The Clean Operating Result of Exploration & Production rose considerably to
Slide 12: OMV Q3 2021 Results Conference Call, October 29, 2021 12/23 | OMV Group
OMV Q3 2021 Results Conference Call, October 29, 2021 12/23 | OMV Group
Slide 13: Refining & Marketing – stronger refining margins, higher sales volumes
OMV Q3 2021 Results Conference Call, October 29, 2021 Slide 7: Refining & Marketing – stronger refining margins, higher sales volumes and positive ADNOC Refining & Trading contribution The clean CCS Operating Result in Refining & Marketing grew by 53 percent year-on-year to 361 million Euros, due to
Slide 14: OMV Q3 2021 Results Conference Call, October 29, 2021 14/23 | OMV Group
OMV Q3 2021 Results Conference Call, October 29, 2021 xx 14/23 | OMV Group
Slide 15: Chemicals & Materials – continued strong performance of Borealis
OMV Q3 2021 Results Conference Call, October 29, 2021 Slide 8: Chemicals & Materials – continued strong performance of Borealis, underpinned by attractive market environment The clean Operating Result of Chemicals & Materials increased from 99 to 623 million Euros. This outstanding development was d
Slide 16: OMV Q3 2021 Results Conference Call, October 29, 2021 16/23 | OMV Group
OMV Q3 2021 Results Conference Call, October 29, 2021 16/23 | OMV Group
Slide 17: Record cash flow from operating activities excluding net working capital effects
OMV Q3 2021 Results Conference Call, October 29, 2021 Slide 9: Record cash flow from operating activities excluding net working capital effects of EUR 5.4 bn in 9m/21 Turning to cash flow, our third-quarter operating cash flow ─ excluding net working capital effects ─ reached a historical record of
Slide 18: OMV Q3 2021 Results Conference Call, October 29, 2021 18/23 | OMV Group
OMV Q3 2021 Results Conference Call, October 29, 2021 18/23 | OMV Group
Slide 19: Further progress on deleveraging, gearing ratio below 30%
OMV Q3 2021 Results Conference Call, October 29, 2021 Slide 10: Further progress on deleveraging, gearing ratio excluding leases below 30% Thanks to the outstanding cash generation and the progress with the disposal program, net debt excluding leases decreased by 934 million Euros to 6.2 billion Eur
Slide 20: OMV Q3 2021 Results Conference Call, October 29, 2021 20/23 | OMV Group
OMV Q3 2021 Results Conference Call, October 29, 2021 20/23 | OMV Group
Slide 21: Divestment program target of EUR 2 bn will be clearly exceeded
OMV Q3 2021 Results Conference Call, October 29, 2021 Slide 11: Original target of EUR 2 bn for the divestment program will be clearly exceeded Let me now give you an update on our divestment program. Since the announcement of the program last year in March, we have signed agreements resulting in a
Slide 22: OMV Q3 2021 Results Conference Call, October 29, 2021 22/23 | OMV Group
OMV Q3 2021 Results Conference Call, October 29, 2021 22/23 | OMV Group
Slide 23: Updated outlook 2021
OMV Q3 2021 Results Conference Call, October 29, 2021 Slide 12: Updated outlook 2021 Let me conclude with an update on our outlook for this year. Based on the developments we have seen so far, we now expect an average Brent price of around 70 Dollars per barrel for 2021 and an average realized gas p