Slide 1: Q2 2022 Results Conference Call
Q2 2022 Results Conference Call Alfred Stern Chairman of the Executive Board and CEO July 28, 2022 © McDermott International 1 | Q2 2022 Conference Call, July 28, 2022 © OMV Group
Slide 2: Disclaimer
Q2 2022 Results conference call Disclaimer 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”, “target”, “objective”, “estimate”, “goal”, “may”, “will”, and sim
Slide 3: Macro environment: stronger oil and gas prices, rising refining margins
Macro environment Stronger oil and gas prices, rising refining margins, and healthy chemical margins Oil prices and refining indicator margin Europe Olefin indicator margins Europe3 USD/bbl EUR/t Ethylene Propylene 120 Average Brent price (left) 25 673 100 Average realized crude price (left) 20 OMV
Slide 4: Key messages
Q2 2022 Results conference call Key messages FINANCIAL OPERATIONS DELIVERING THE PERFORMANCE Q2/22 Q2/22 STRATEGY Clean CCS Operating Result of Polyolefin sales incl. JVs Successful listing of 10% of EUR 2.9 bn +2% y-o-y Borouge on ADX 2.3x y-o-y Total fuel sales Start-up of Baystar 1 mn t (5)% y-o-
Slide 5: Strong earnings in all three segments
Clean CCS Operating Result Strong earnings in all three segments Clean CCS Operating Result Clean CCS net income attributable to Clean CCS Earnings Per Share EUR mn stockholders EUR EUR mn Chemicals & Materials Refining & Marketing Exploration & Production 2,937 Corporate & Other 2,621 1,418 602 584
Slide 6: Chemicals & Materials: strong performance supported by nitrogen business and Borouge
Chemicals & Materials Continued strong performance supported by the nitrogen business and Borouge Clean Operating Result EUR mn ● Market environment ● Higher European ethylene and propylene indicator margins (+38%, +47%) ● Significantly lower European PE and PP indicator margins (-45%, -39%) (45) 64
Slide 7: Refining & Marketing: substantially stronger refining margins
Refining & Marketing Substantially stronger refining margins, improved contribution from Gas & Power Eastern Europe and from ADNOC Refining Clean CCS Operating Result EUR mn +579 ● Significantly higher refining indicator margin Europe (USD 20.5/bbl2 vs. 2.2/bbl3) 745 ● Operational performance ● Subs
Slide 8: Exploration & Production: higher oil and gas prices, lower volumes
Exploration & Production Substantially higher oil and gas prices, partly offset by lower volumes and a significantly weaker gas business result Clean Operating Result EUR mn ● Significantly stronger market environment ● Average realized crude oil price increased by 78% +1,105 ● Average realized natu
Slide 9: Cash flow from operating activities excluding NWC increased to EUR 5.7 bn
Cash Flow Cash flow from operating activities excluding net working capital effects in 6m/22 increased to EUR 5.7 bn Cash flow 6m/22 vs. 6m/21 EUR bn ● Increase of ~ EUR 2.3 bn in cash flow from operating activities excluding net working capital effects 6m/21 ● Net working capital effects of EUR (2.
Slide 10: Strong balance sheet: leverage ratio comfortably below 30%
Strong balance sheet Leverage ratio comfortably below 30% Leverage ratio Net debt in EUR bn 9.3 End of June 2022 32% OMV cash position 30 6.0 5.2 EUR 6.5 bn 4.7 4.6 22% 21% 18% End of June 2022 15% OMV undrawn committed credit facilities EUR 4.2 bn 2019 2020 2021 Q1/22 Q2/22 Note: Leverage ratio is
Slide 11: Updated outlook 2022
Q2 2022 Results Updated outlook 2022 2021 2022 Brent oil price (USD/bbl) 71 >100 (previous: ~95) Average realized gas price (EUR/MWh) 16.5 ~45 Europe ethylene indicator margin (EUR/t) 468 >468 (previous: prior-year level) Europe propylene indicator margin (EUR/t) 453 >453 (previous: prior-year level
Slide 12: Appendix
APPENDIX 12 | Q2 2022 Conference Call, July 28, 2022 © OMV Group
Slide 13: Chemicals & Materials: stronger monomer market environment, improved Borouge
Chemicals & Materials Stronger monomer market environment in Europe and improved Borouge performance Clean Operating Result EUR mn ● Market environment ● Higher ethylene and propylene indicator margins (+55%, +52%) ● Flat European PE indicator margin and lower PP indicator margin (-16%) +18 ● Lower
Slide 14: Refining & Marketing: stronger refining margins and ADNOC Refining
Refining & Marketing Substantially stronger refining margins and improved contribution from ADNOC Refining Clean CCS Operating Result EUR mn +388 +109% ● Significantly higher refining indicator margin Europe (USD 20.5/bbl2 vs. 745 9.8/bbl3) ● Operational performance 149 ● Substantially lower refiner
Slide 15: Exploration & Production: favorable market offset by Russian volumes exclusion
Exploration & Production Favorable market environment offset by exclusion of Russian volumes, planned maintenance and Gas Marketing result Clean Operating Result EUR mn (151) ● Improved market environment ● Realized oil price increased by 18% ● Realized gas price increased by 49% 513 674 ● Realized
Slide 16: Strong balance sheet
Balance sheet Strong balance sheet Balance sheet June 30, 2022 vs. March 31, 2022 EUR bn ● Assets and liabilities held for sale decreased due to 60.6 60.6 successful divestment of German retail network in Q2/22, 58.6 58.6 with offsetting effects from higher net assets value of the nitrogen business
Slide 17: Sensitivities of the OMV Group results in 2022
2022 Sensitivities Sensitivities of the OMV Group results in 2022 Annual impact excl. hedging Clean CCS Operating Operating cash flow in EUR mn Result Brent oil price (USD +1/bbl) +55 +25 Realized gas price (EUR +1/MWh) +85 +55 OMV indicator refining margin Europe (USD +1/bbl) +95 +75 Ethylene indic