Slide 1: Q2 2020 Results Conference Call
Q2 2020 Results Conference Call Rainer Seele Chairman of the Executive Board and CEO July 29, 2020 OMV Aktiengesellschaft
Slide 2: Disclaimer
Disclaimer This report contains forward-looking statements. Forward-looking statements may be identified by the use of terms such as “outlook,” “expect,” “anticipate,” “target,” “estimate,” “goal,” “plan,” “intend,” “may,” “objective,” “will”, and similar terms or by their context. These forward-loo
Slide 3: Macro environment – all indicators down significantly
Macro environment – all indicators down significantly Oil prices USD/bbl OMV indicator refining margin USD/bbl 69 70 62 63 6 5.5 5.0 4.9 60 66 50 5 59 61 50 4 3.2 40 47 30 3 2.3 30 Average Brent price 20 2 Average realized crude price 26 10 1 0 0 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q2/19 Q3/19 Q4/19 Q1/20
Slide 4: Key messages
Key messages FINANCIAL STRONG DELIVERING THE PERFORMANCE OPERATIONS STRATEGY Clean CCS Operating Result of Quarterly production of Signed MoU with Lafarge, EUR 145 mn (–86% y-o-y) with a 464 kboe/d VERBUND and Borealis to substantial deterioration in capture and utilize CO2 on an Production cost Ups
Slide 5: Clean CCS Operating Result substantially impacted by lower oil and gas prices and reduced demand
Clean CCS Operating Result substantially impacted by lower oil and gas prices and reduced demand Clean CCS Operating Result Clean CCS net income attributable Clean CCS Earnings Per Share EUR mn to stockholders EUR Upstream Corporate & Other, Consolidation EUR mn Downstream 1,047 1.56 510 650 699 137
Slide 6: Upstream – significantly weaker oil and gas market environment and no sales in Libya
Upstream – significantly weaker oil and gas market environment and no sales in Libya Clean Operating Result Q2/20 vs. Q2/19 EUR mn Significantly weaker market environment Average realized oil price decreased by 61% (802) -123% Average realized gas price decreased by 32% 650 Positive FX impac
Slide 7: Downstream – significantly weaker market environment, partially offset by positive hedging impact and higher gas contribution
Downstream – significantly weaker market environment, partially offset by positive hedging impact and higher gas contribution Clean CCS Operating Result Q2/20 vs. Q2/19 EUR mn Weaker market environment (118) Refining indicator margin at USD 2.3/bbl (-29%) 428 Ethylene/propylene net margins at
Slide 8: Cash flow from operating activities excluding net working capital effects of EUR 1.3 bn in first six months of 2020
Cash flow from operating activities excluding net working capital effects of EUR 1.3 bn in first six months of 2020 Organic cash flow 6m/20 Cash flows 6m/20 vs. 6m/19 EUR bn Decrease of EUR 966 in cash flow from operating activities excl. net working capital change 2.2 Net working capital effect
Slide 9: Healthy balance sheet
Healthy balance sheet Net debt excluding leases, Gearing ratio excluding leases EUR bn, % 26% End of June 2020 In Q2/20 issued senior bonds, OMV cash position in particular for financing the 22% Borealis deal 1 21% 19% EUR 5.8 bn EUR 3.25 bn 19% End of June 2020 OMV Remaining OMV undrawn committed c
Slide 10: Borealis deal and divestment projects progressing well
Borealis deal and divestment projects progressing well Acquisition of controlling interest in Borealis Regulatory approvals on track Joint project to identify synergies underway Closing expected by year-end Divestment of share in Gas Connect Austria Binding offer received from VERBUND Ongo
Slide 11: Updated outlook 2020
Updated outlook 2020 2019 Outlook 2020 Brent oil price (USD/bbl) 64 40 Average realized gas price (EUR/MWh) 11.9 <10 (previously ~10) 450–470 Total hydrocarbon production (kboe/d) 487 (previously 440–470 1) OMV European indicator refining margin (USD/bbl) 4.4 ~3.0 (previously ~4.0) Ethylene/propylen
Slide 12: OMV sets new, more ambitious emissions targets for 2025
OMV sets new, more ambitious emissions targets for 2025 SCOPE 1 – target 2025 (vs. 2010) SCOPE 3 – target 2025 (vs. 2010) Reduce the carbon intensity of operations 1 by Reduce the carbon intensity of product portfolio 2 by ≥30% (previously 19%) >6% (previously 4%) ≥60% share of low and zero carbon
Slide 13: Net-zero Emissions in Our Operations by 2050
Net-zero Emissions in Our Operations by 2050 13 | OMV Group, Q2 2020 Conference Call, July 29, 2020
Slide 14: BACKUP
BACKUP OMV Aktiengesellschaft
Slide 15: Upstream – significantly weaker market environment partially offset by lower exploration expenses
Upstream – significantly weaker market environment partially offset by lower exploration expenses Clean Operating Result Q2/20 vs. Q1/20 EUR mn Significantly weaker market environment (289) Realized oil price decreased by 45% 137 Realized gas price decreased by 25% Production of 464 kboe/d (
Slide 16: Downstream – lower earnings due to a significant lower refining margin and reduced demand
Downstream – lower earnings due to a significant lower refining margin and reduced demand Clean CCS Operating Result Q2/20 vs. Q1/20 EUR mn Weaker market environment (192) Significantly lower refining margin at USD 2.3/bbl (-54%) 501 Lower ethylene/propylene net margin (-14%) Borealis & ADNOC
Slide 17: Operational KPIs
Operational KPIs Hydrocarbon production Refined product sales Retail sales kboe/d mn t mn t 490 472 464 5.38 1.63 4.60 1.44 4.16 1.23 Q2/19 Q1/20 Q2/20 Q2/19 Q1/20 Q2/20 Q2/19 Q1/20 Q2/20 Hydrocarbon sales Refinery utilization rate Natural gas sales kboe/d % TWh 484 96 94 48.0 446 434 79 235 182 173
Slide 18: Strong balance sheet
Strong balance sheet Balance sheet June 30, 2020 vs. March 31, 2020 EUR bn 42.3 42.9 42.9 42.3 Stockholders’ equity 12.7 12.9 Retail network in Germany reclassified to assets Tangible & 19.0 intangible assets 19.2 held for sale in Q2/20 Non-controlling interests 3.7 3.9 Trade payables 2.4 3.5 Bo
Slide 19: OMV Aktiengesellschaft
OV OMV OMV Aktiengesellschaft ouv OMV