Omv Ag · VIE:OMV

Omv — OMV Aktiengesellschaft — Q3 2021 Earnings Presentation

19 slides from Omv's earnings presentation, Oct 29, 2021

  1. Slide 1: Q3 2021 Results Conference Call

    Q3 2021 Results Conference Call Alfred Stern Chairman of the Executive Board and CEO October 29, 2021 OMV Aktiengesellschaft

  2. 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

  3. Slide 3: Macro environment – strong prices and margins across all commodities

    Macro environment – strong prices and margins across all commodities Oil prices & Refining indicator margin Europe Olefin indicator margins Europe 2 USD/bbl EUR/t Average Brent price Average realized crude price 70 80 5 700 OMV Refining Indicator Margin Ethylene Propylene 60 4 600 60 480 489 55 4.4

  4. Slide 4: Key messages

    Key messages FINANCIAL STRONG DELIVERING THE PERFORMANCE OPERATIONS STRATEGY Clean CCS Operating Result of Quarterly production of Signed divestment of 25% share in EUR 1.8 bn 470 kboe/d Wisting oil field, Norway 5.6x y-o-y Production cost at USD 6.7/boe Quarterly cash flow from operating activities

  5. Slide 5: Clean CCS Operating Result – strong market environment and improved operational performance

    Clean CCS Operating Result – strong market environment and improved operational performance Clean CCS Operating Result Clean CCS net income attributable Clean CCS Earnings Per Share EUR mn to stockholders EUR Exploration & Production Corporate & Other EUR mn Refining & Marketing Chemicals & Material

  6. Slide 6: Exploration & Production – considerably higher realized oil and gas prices, increased sales volumes

    Exploration & Production – considerably higher realized oil and gas prices, increased sales volumes Clean Operating Result Q3/21 vs. Q3/20 EUR mn  Significantly stronger market environment  Average realized crude oil price increased by 86% +840  Average realized natural gas price increased by 116

  7. Slide 7: Refining & Marketing – stronger refining margins, higher sales volumes and positive ADNOC contribution

    Refining & Marketing – stronger refining margins, higher sales volumes and positive ADNOC Refining & Trading contribution Clean CCS Operating Result EUR mn Q3/21 vs. Q3/20 +125 +53%  Stronger market environment 361  Significantly higher refining indicator margin Europe (USD 4.4./bbl vs USD 0.9/bbl

  8. Slide 8: Chemicals & Materials – continued strong performance of Borealis

    Chemicals & Materials – continued strong performance of Borealis, underpinned by attractive market environment Clean Operating Result Q3/21 vs. Q3/20 EUR mn  Significantly stronger market environment  Higher ethylene and propylene indicator margins (+22%, +41%) +524  Strong European PE and PP ind

  9. Slide 9: Record cash flow from operating activities excluding net working capital effects of EUR 5.4 bn in 9m/21

    Record cash flow from operating activities excluding net working capital effects of EUR 5.4 bn in 9m/21 Cash flow 9m/21 vs. 9m/20 EUR bn  Increase of EUR 3.5 bn in cash flow from operating activities excluding net working capital effects 5.4  Net working capital effects of EUR (1.2) bn (9m/20: EUR

  10. Slide 10: Further progress on deleveraging, gearing ratio excluding leases below 30%

    Further progress on deleveraging, gearing ratio excluding leases below 30% Gearing ratio excluding leases Gearing ratio excluding leases considering divestments signed Net debt excluding leases in EUR bn 8.1 7.9 7.1 End of September 2021 41% 6.2 OMV cash position 37% Signed 34% divestments 28% EUR 4

  11. Slide 11: Original target for the divestment program will be clearly exceeded

    Original target of EUR 2 bn for the divestment program will be clearly exceeded CLOSED  51% share in Gas Connect Austria  E&P operations in Kazakhstan  Four oil fields in Malaysia  OMV retail network in Germany  Net debt reduction of ~ EUR 500 mn Ongoing  Closing expected in Q4 2021H2 2021  O

  12. Slide 12: Updated outlook 2021

    Updated outlook 2021 2020 9m/2021 Outlook FY 2021 Brent oil price (USD/bbl) 42 68 ~70 (previously 65–70) Average realized gas price (EUR/MWh) 8.9 13 >15 (previously >12) Total hydrocarbon production (kboe/d) 463 485 >480 (previously ~480) OMV indicator refining margin Europe (USD/bbl) 2.4 2.80 ~3.5

  13. Slide 13: BACKUP

    BACKUP OMV Aktiengesellschaft

  14. Slide 14: Exploration & Production – favorable market environment and higher sales, partly offset by hedging losses

    Exploration & Production – favorable market environment and higher sales, partly offset by hedging losses Clean Operating Result EUR mn Q3/21 vs. Q2/21  Improved market environment +318  Realized oil price increased by 16% 34 816 108  Realized gas price increased by 28%  Realized hedging loss of

  15. Slide 15: Refining & Marketing – stronger market environment and higher sales in retail and commercial

    Refining & Marketing – stronger market environment and higher sales in retail and commercial Clean CCS Operating Result EUR mn Q3/21 vs. Q2/21 +180 +99% 361  Significantly higher refining indicator margin 41  Refining indicator margin Europe at USD 4.4/bbl (+101%) 121  Operational performance  H

  16. Slide 16: Chemicals & Materials – lower polyolefin market environment, slightly offset by higher inventory valuation effects

    Chemicals & Materials – lower polyolefin market environment, slightly offset by higher inventory valuation effects Clean Operating Result EUR mn Q3/21 vs. Q2/21 (24)  Market environment 647 6 623  Higher ethylene and propylene indicator margins (+2%, +7%) 85 71  Lower European PE and PP indicator

  17. Slide 17: Strong balance sheet

    Strong balance sheet Balance sheet September 30, 2021 vs. June 30, 2021 EUR bn 56.6 56.6 55.0 55.0  Increase of equity mainly related to strong result 14.9 as well as positive FX effects Stockholders’ equity Tangible & and hybrid capital 15.5 21.6 intangible assets 21.7 6.1 Non-controlling interest

  18. Slide 18: Sensitivities of the OMV Group results in 2021

    Sensitivities of the OMV Group results in 2021 Annual impact excl. hedging Clean CCS Operating Operating cash flow in EUR mn Result Brent oil price (USD +1/bbl) +60 +25 Realized gas price (EUR +1/MWh) +150 +100 OMV indicator refining margin Europe (USD +1/bbl) +110 +85 Ethylene indicator margin Euro

  19. Slide 19: OMV Aktiengesellschaft

    OV OMV OMV Aktiengesellschaft ouv OMV

OMV Aktiengesellschaft — Q3 2021 Earnings Presentation on 6ix